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Pemex reported results analysis


Pemex reported results analysis

Report summary

Foreign exchange gains helped Pemex to its first profit in over four years. However, net debt hit a record US$93 billion, and the operational outlook remains challenging, with production and reserves continuing to fall. Progress was made for the next batch of farm-outs, which will include a material deepwater opportunity in the Perdido. Furthermore, the company reached an agreement with the CNH to transfer one of its loss-making producing fields to a new set of fiscal terms, potentially opening the door for further contract conversions.

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Description

The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Reported Results Analysis report provides rapid response analysis on company quarterly results and strategy presentations. Use it to gain the upper hand with Wood Mackenzie's opinion on the latest corporate developments.

Widely used by both the energy and financial sectors, our report gives you a unique perspective on key strategic and financial challenges, as well as opportunities facing this oil and gas company.

Wood Mackenzie provides an independent evaluation and expert opinion on the operational performance, strategy and future of the world's top oil and gas companies. Our unique, objective analysis helps you understand, validate, compare and challenge market and corporate views so you can assess strategic opportunities.

  • Q1 2017
    • Overview
    • Strategy / investment
    • Operational performance
    • Financial performance
    • Exploration
  • Q4 2016
    • Overview
    • Strategy / investment
    • Operational performance
    • Financial performance
    • Exploration
    • M&A
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