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Mexican service companies to get a peek at Eagle Ford “know how”


Written by Sergio Chapa

Click HERE to Read the Article by the Publisher.

With nine oil and gas leases coming up for bid just across the border from Texas, several Mexican companies will soon be arriving in the Lone Star State to get a peek at the technology and skills that made the Eagle Ford Shale one of the most prolific fields in the United States.

The San Antonio-based Eagle Ford Consortium is hosting a ” Texas-Mexico Business Forum” at the International Center for Trade in Eagle Pass on Sept. 22 and 23.

Organizer Jeff Labenz-Hough said the consortium teamed up with San Antonio’s Asociación de Empresarios Mexicanos Bi-National Energy Committee to create a regional event that will will serve as a platform for Mexican companies to meet their counterparts in Texas.

“We’re bringing Mexican service companies here to learn from what we’ve learned,” Labenz-Hough told the Business Journal.

Mexico passed sweeping legislative reforms in August 2014 opening its energy markets to foreign investment for the first time in more than 70 years. The reforms are being introduced in stages with lucrative oil and gas leases coming up for bid every few months.

Last week, Mexico’s Ministry of Energy, or SENER, put nine oil gas leasesfrom the border state of Tamaulipas up for bid. The leases, which are located in the Burgos Basin just across the border from McAllen and Brownsville, are believed to be prime candidates for hydraulic fracturing.

Under the historic energy reforms, companies from Mexico, the United States and elsewhere are eligible to file individual bids or they can work together in consortiums. Bids for the Tamaulipas blocks are due in March while winners will be announced in April.

As the bidding process moves forward, Labenz-Hough said the conference will benefit both emerging companies in Mexico and American companies looking to get a piece of the pie south of the border.

“We think that we can bring some value to them,” Labenz-Hough said.

Railroad Commission of Texas Commissioner Ryan Sitton has been invited to speak about the state’s oil and gas experience while Mexico’s National Hydrocarbons Commission Director Marco Cota was invited to speak about opportunities south of the border.

Darin Turner with the Dallas office of investment management firm Invesco has already been confirmed as a speaker. Meanwhile, organizers released a list of companies whose executives were invited to speak at the conference:

  • Lewis Energy (San Antonio)
  • HY-BON/EDI (Midland)
  • Strata BPS (San Antonio/Monterrey)
  • Compañia Mexicana de Exploraciones (Mexico City)
  • Nuvoil (Veracruz)
  • Geo-Estratos (Ciudad Madero, Tamaulipas)
  • Cluster Energía de Coahuila (Saltillo)

Two years into a commodity price downturn that has created a dramatic drop in new drilling activity, the Eagle Ford Consortium has moved away from holding a lavish annual conference along the River Walk to smaller, regional and more topical events spread out across the 26 counties of the Eagle Ford Shale.

“We are like everyone else, we’re shifting to what’s next,” Labenz-Hough said. “We’re putting a lot of emphasis on our regional meetings.”

Tags: oil, gas, energy

Written by Sergio Chapa

Click HERE to Read the Article by the Publisher.