Egypt’s Cheiron Holdings Ltd. won the rights to partner with Mexican national oil company Pemex on its onshore Cardenas-Mora project, the industry regulator said Oct. 4.
The tie-up marks only the second joint venture between the Pemex and an equity partner since an energy opening finalized in 2014 ended the company’s decades-long monopoly and allowed it to develop projects with private and foreign oil companies.
Cardenas-Mora is a 168-sq-km (65-sq-mile) field located in Tabasco state that is believed to contain 93 million barrels of oil equivalent in proven, probable and possible reserves.
Recommended Reading
CorEnergy Infrastructure to Reorganize in Pre-packaged Bankruptcy
2024-02-26 - CorEnergy, coming off a January sale of its MoGas and Omega pipeline and gathering systems, filed for bankruptcy protect after reaching an agreement with most of its debtors.
From Restructuring to Reinvention, Weatherford Upbeat on Upcycle
2024-02-11 - Weatherford CEO Girish Saligram charts course for growth as the company looks to enter the third year of what appears to be a long upcycle.
Buffett: ‘No Interest’ in Occidental Takeover, Praises 'Hallelujah!' Shale
2024-02-27 - Berkshire Hathaway’s Warren Buffett added that the U.S. electric power situation is “ominous.”
Petrie Partners: A Small Wonder
2024-02-01 - Petrie Partners may not be the biggest or flashiest investment bank on the block, but after over two decades, its executives have been around the block more than most.
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.