BHP Billiton wins Trion farmout Mexico’s deepwater Gulf of Mexico oil and gas auction, Round 1.4, resulted in eight of the 10 deepwater blocks in the Gulf being awarded to bidders outside of Mexico—a first for a country that has been determined to successfully draw outside companies to help overhaul its energy sector. Mexico’s National Hydrocarbon’s Commission (CNH) said that
IFR jointly owned partner Tonalli shoots for first well on Tecoluta in 1H 2017 International Frontier Resources Corporation (ticker: IFR) has officially taken over operatorship of onshore oil and gas development block Tecolutla from state-owned PEMEX in Mexico. IFR’s jointly owned Mexican company Tonalli Energia has initiated oil field services contracting, and the company said it has found service providers
International Frontier Resources Corporation (“IFR” or the “Company”) (TSX VENTURE:IFR)(OTCQB:IFRTF) is pleased to announce that its jointly owned Mexican company Tonalli Energia (“Tonalli”) has identified high interest development targets at its onshore oil and gas development block, Tecolutla. Upon signing the License Contract on August 25th, 2016, Tonalli acquired additional 3-D seismic covering an extended area including and offsetting the Tecolutla
Mexico’s data room will become available to companies looking to bid in the second round starting December 15 Mexico has been taking large steps to liberalize its oil and gas industry since 2013 when the government decided to end the 77-year monopoly of state-owned PEMEX. Several rounds of bidding have taken place already, and the second round of onshore assets
President Elect’s Mexican Trade Policy Critical for Gas Exports Donald Trump’s electoral victory has raised many questions concerning his policies on trade and energy. For the U.S. natural gas industry, trade relations with Mexico will prove critical to balancing out the market and providing the demand necessary for domestic production to grow. Since 2010, Mexican natural gas production has been falling
Mexico’s midstream operator CENAGAS looking to invest more than $7.5 billion by 2020 Mexico’s deregulation of its oil and gas sector has many excited about the possibilities of new business coming down the pipes. A great deal of attention has been paid to exploration opportunities in the country, and Tuesday speakers from Mexico’s midstream operator CENAGAS and mid- and downstream
“Things are moving, and it is hard, but we are on the right track” – PEMEX CEO Jose Antonio Gonzalez Anaya During a conference call outlining the company’s five-year plan Wednesday, PEMEX CEO Jose Antonio Gonzalez Anaya said the company will meet its financial targets for the year, and that he believes they are on the right track to make
Former Enbridge CEO Daniel sees possible re-application for Keystone XL Former Enbridge CEO Patrick Daniel told BNN today that he is believes Donald Trump’s victory will be positive for cross-border energy pipeline projects, starting with the Keystone XL pipeline, the final application for which was turned down by the Obama administration a year ago after seven years of permitting activity.
A weak peso and increased interest expenses continue to hurt PEMEX Mexican state-owned oil major PEMEX reported its third quarter earnings Friday, showing a smaller net loss this quarter than last year. The company’s net income loss for the quarter was 118 billion pesos ($6.25 billion), according to the company’s quarterly materials, 29.4% less than in Q3 2015. According to
Steve Hanson appointed CEO of International Frontier Resources Calgary-based International Frontier Resources (ticker: IFR) announced today that its Board of Directors has approved a new management structure for the company. Under the new structure, President Steve Hanson has been appointed CEO, and Pat Boswell, previously CEO and Chairman of the Board, has transitioned to Chairman Emeritus. In his new role,
International Frontier Resources expects workovers to begin this year, with first horizontal well to be drilled in the first half of 2017 International Frontier Resources (ticker: IFR) released an update on its Mexican operations Monday as the company continues the transition period with Mexican national operator PEMEX. At the end of the 90-day transfer of onshore Block 24, known as
From BN Americas Mexico has published the definitive bidding rules and contract terms for the fourth auction of Round One, for deepwater fields, which is scheduled to take place on December 5. The energy ministry (Sener), hydrocarbons commission (CNH) and finance ministry (SHCP) have made modifications to the original rules and terms, based on best international practices and with the aim
