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Shell takes center stage: Mexico's deepwater Round 2.4 closes strong

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01 February 2018

Shell takes center stage: Mexico's deepwater Round 2.4 closes strong

Report summary

Mexico’s second deepwater round was a major success, with 19 of 29 blocks on offer awarded. Shell won nine blocks, with other Majors and NOCs taking most of the rest. Competitive bidding was prevalent with 14 blocks receiving multiple bids. The result validates the Mexican government’s approach to setting competitive minimum bids, which promoted active bidding, and drove up the value of the acreage.

Table of contents

  • Twenty-three deepwater wells committed across the awarded areas
  • Bidding concentrated in Salinas Sureste and Perdido
  • Fiscal term adjustments prove successful
  • Perdido did not disappoint
  • Salinas Sureste: 9 of 10 blocks awarded
  • Cordillerasreceived less attention
    • Majors: Shell leads the way with aggressive bids
    • NOCs: Asian NOCs swoop in while Pemex reloads exploration portfolio
    • Independents: Repsol moves in on the Cordilleras
  • Mexico performs well in the face of mounting global exploration opportunities
  • Round Two finishes on a high note as presidential election approaches

Tables and charts

This report includes 13 images and tables including:

  • Perdido awarded blocks
  • Cordilleras and Salinas Sureste awarded blocks
  • Shell the most active bidder by far
  • Bids for Perdido blocks (Sabinas-Rio Grande basin)
  • Bids for Cordilleras blocks (Tampico-Misantla)
  • Bids for Salinas Sureste
  • Shell went strong in the Perdido area
  • Full-cycle IRR of a 200 mmbbl oil field in Perdido
  • Salinas Sureste received bids on all but one block
  • Full-cycle IRR of a 200 mmbbl oil field in Salinas Sureste area
  • Cordilleras Mexicanas (Tampico-Misantla) bids by block
  • Shell leaps to the forefront of Mexico acreage holders (excluding Pemex)

What's included

This report contains:

  • Document

    Mexico_Round_2_4_company_bids_deep_water.xls (5)

    XLS 374.50 KB

  • Document

    Shell takes center stage: Mexico's deepwater Round 2.4 closes strong

    PDF 875.78 KB

  • Document

    Shell takes center stage: Mexico's deepwater Round 2.4 closes strong

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