Mexico Archives - Page 14 of 24 -

Strong Well Results in the Gulf: Talos Energy’s Zama-2 ST1 Appraisal Well Reinforces Zama Predictions

April 16, 2019

Well flow tested at 7,900 BOEPD, core sets Mexican offshore record with 714 feet of whole core Zama will ‘be impactful for the company and for the Mexican economy’ – Talos CEO Duncan Talos Energy Inc. (stock ticker: TALO, $TALO) reported good results for its Zama appraisal program in Block 7, located in the offshore portion of Mexico’s Sureste Basin in the Gulf

Oil Explorers Push Ahead in Mexico as AMLO Asks for More Output

March 29, 2019

From Bloomberg International oil companies including Malaysia’s Petronas, U.S. independent Murphy Oil Corp. and Spain’s Repsol SA are pushing ahead with plans to develop Mexico’s deep-water fields, as they face criticism from the government that they aren’t moving fast enough. “We’re not out there just sitting on acreage and waiting,’’ said Adam Seitchik, general manager of exploration and new ventures at Murphy Oil, speaking

Pemex Imports Crude in February, Despite President’s Aversion

March 27, 2019

From Reuters Mexican state oil company Pemex imported crude oil in February despite the new president’s sharp criticism of the previous government’s authorization of foreign oil shipments, official data showed on Tuesday. President Andres Manuel Lopez Obrador, who took office in December, promises to make Mexico energy independent over the next three years and has often blasted foreign imports as

Mexico’s Pemex Posts $7.6 Billion Loss In 2018 As Oil Output Dips

February 28, 2019

From Reuters Mexican state oil company Pemex said on Wednesday its losses narrowed in 2018, helped by currency exchange gains as crude production and refining rates continued to decline. Pemex, Mexico’s largest company, reported a loss of $7.6 billion in 2018, down by nearly half from losses of about $14.3 billion the previous year, according to a filing with the

How Pemex ‘Destroyed’ $1 Billion With Erratic Business Choices

February 22, 2019

From Reuters Mexico’s state-oil company Pemex burned through $665 million at its fertilizer unit, ignored consultants and made high-risk investments with no discernible business strategy, according to a devastating government audit of its 2017 operations. The report, published late on Wednesday, offers insight into how Pemex ended up creaking under $106 billion of debt during the six-year term of former

AMLO Sounds Death Knell for Oil Reforms With Pemex Farm-out Halt

February 21, 2019

From Bloomberg Mexico President Andres Manuel Lopez Obrador has suspended future Petroleos Mexicanos farm-out bids, putting one of the final nails in the coffin for the 2014 energy reforms that promised to reverse years of oil-production declines with private companies’ involvement. “What is already agreed will continue on course,” said Pemex Chief Executive Octavio Romero during the president’s morning conference. He also

Pemex Assistance Plan Fails to Impress Bondholders

February 15, 2019

From Bloomberg Mexico’s Petroleos Mexicanos, the world’s most indebted oil company, will refrain from issuing new bonds this year and begin prepaying existing liabilities as part of a broad turnaround plan. The peso and the company’s bonds fell on investor doubts that the steps will be enough. Pemex, as the company is known, will boost investment this year to 288.1 billion

Crude oil production from Mexico’s Pemex up slightly in December

January 28, 2019

From Reuters Crude production from state-owned oil company Pemex averaged 1.71 million barrels per day (bpd) in December, up 0.8 percent compared to output the previous month, according to company data published on Friday. Despite the monthly uptick, December production levels are among the lowest on record dating back several decades for the struggling Mexican oil giant. The firm’s crude

EnerCom Announces Companies Presenting at EnerCom Dallas Feb. 27- 28, 2019

January 24, 2019

Oil industry senior management teams will discuss 2019 drilling plans at the EnerCom Dallas investment conference EnerCom Dallas is a financial conference that allows institutional investors an opportunity to hear and meet with CEOs from leading independent E&Ps, including Permian, Eagle Ford, Marcellus, Haynesville, Gulf of Mexico, Latin American and Canadian producers plus leading oilfield service companies supporting them. Registration

Talos Energy’s Zama-2 Appraisal Well Logs 581 Feet of Gross TVD Oil Pay

January 23, 2019

Talos Energy Inc. (stock ticker: TALO) operator of Block 7 offshore Mexico in a consortium with its partners Sierra Oil and Gas S. de R.L. de C.V. and Premier Oil Plc reported results from its Zama-2 appraisal well, the first of three appraisal penetrations to define resource potential of the Zama discovery. Talos said the Zama-2 appraisal penetration was drilled

Mexico Pipeline Blast Risks Embroiling AMLO in Elusive Pemex Fix

January 21, 2019

From Bloomberg Mexico President Andres Manuel Lopez Obrador is doubling down on a controversial strategy to end fuel theft at Petroleos Mexicanos after a pipeline explosion caused by an illegal tap left at least 85 people dead and many more injured. He joins a long line of presidents who have tried to fix Mexico’s struggling state oil producer — with little to

Mexican Oil Theft Even Reached Drilling Rigs, President Says

January 16, 2019

From Reuters Mexican President Andres Manuel Lopez Obrador said on Tuesday that widespread fuel theft extended to oil drilling platforms and he pledged to take actions to alleviate shortages sparked by his crackdown on gasoline thieves. Lopez Obrador said there had been “acts of sabotage at crude oil drilling platforms,” without providing further details. “We have identified the problem and

Premium Content