Insight
Salinas-Sureste stars in Mexico's shallow water Round Three
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Mexico's shallow-water Round 3.1 closed with another impressive finish, awarding 16 of the 35 blocks on offer. The prolific Salinas-Sureste basin lived up to its expectations. All blocks received multiple bids, a stark contrast to the Tampico-Misantla-Veracruz and the Burgos regions where only one of eight awarded blocks was contested. Even in its third phase of rounds, Mexico continues to attract newcomers to its shores. Though the round competed globally with eleven other shallow-water offerings,. the results demonstrated that competitive fiscal terms and material opportunities can continue to attract leading players. The round also illustrated how quickly Mexico has been able to build on the success of earlier rounds and exploration, a positive sign for future shallow water offerings in Salinas-Sureste. Finally, the results underline a confidence in the processes and structure Mexico has put into place via the Energy Reform in light of the country's upcoming elections.
Table of contents
- Sharp contrast between Salinas-Sureste and other basins
- Prospectivity underlined a surge in bids in Salinas-Sureste
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Newcomers found foothold in Mexico while incumbents diversified positions
- New entrants CEPSA and Sapura made focused bids
- Pemex strengthened its position in shallow water despite budget constraints
- Repsol, the lone ranger
- DEA, Premier and Sapura pay to play
- Total's southern expansion, Shell bids selectively
- Explorers softened on well commitments
- Potential returns vary as bids were spread across a wide range
- Conclusion
- Appendix: Full results
Tables and charts
This report includes the following images and tables:
- Close proximity of bids in Salinas-Sureste highlights consensus among operators
- Tiebreaker cash payments in Salinas-Sureste raised US$124 million
- Post-tax IRR of a 50 mmboe oil find
- Round 3.1 results
- Offers per company and bidding approach
- Average wells committed per block awarded by round
- Bid sensitivity analysis
- Biddable variables
What's included
This report contains:
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