[Industry insiders, including executives from Sierra O&G and Talos Energy, which this week announced an historic oil discovery, and heads of PEMEX’s divisions will discuss these results and more at the Mexico Oil & Gas Summit on July 18-19. Click for tickets.]

Jaguar Exploración y Producción emerged victorious from Mexico’s oil and gas bidding Round 2.3 on Wednesday, winning five of the 14 blocks.

The bidding process saw all the blocks assigned, with half settled through tie-breaking payments. Because of the long duration of the process, the official assignation of blocks won in Round 2.2 and 2.3 will be done live on July 14, 2017.

Jaguar, the big winner of the day, won blocks 5 and 9, paying US$26,100,000 and US$28,890,000, respectively. The company spent a total US$54,990,000 in Round 2.3.

Shandong in consortium with Sicoval and Nuevas Soluciones won three blocks. The consortium took block 6 after breaking a tie and offering US$2,179,000 as payment.

Carso Oil and Gas in consortium with Newpek and Verdad Exploration, and Iberoamericana in consortium with PJP4 each won two blocks.

Blocks 12 and 13 were won by Carso Oil and Gas after it offered US$6,182,000 and US$13,170,000, respectively, to break a tie.

Newpek in consortium with Verdad Exploration won blocks 2 and 3. Block 2 was awarded after the consortium offered US$2,980,002.2 as payment.

Finally, Iberoamericana in consortium with PJP4 offered US$4,237.264 to win block 1 and and took block 4.

In total, US$83,738,266.2 was offered in round 2.3. Of the 19 qualified bidders to participate, 11 qualified on an individual basis and eight as a consortium. Round 2.3 saw 17 of the qualified bidders compete for 14 onshore areas. Ten companies competed on an individual basis and seven bidders took part as consortiums.

On a press release related to both Round 2.2 and 2.3, CNH estimates that the assigned contracts mean an investment of approximately US$2 billion for the following 30 years. The prospective resources associated to those contracts represent 435 million barrels of oil equivalent.

Here are the complete results of Round 2.3:

Block 1:

Iberoamericana in consortium with PJP4 wins after its higher payment broke a tie with Shandong in consortium with Sicoval and Nuevas Soluciones. Iberoamericana’s bid consists of an additional royalty of 25 percent and a factor of 1.5 for additional investment. It offered US$4,237,264 as payment.

Shandong in consortium with Sicoval and Nuevas Soluciones finished second after offering the same additional royalty and investment factor but only US$3,193,000, as payment.

Block 2:

Newpek in consortium with Verdad Exploration wins after its higher payment broke a tie with Petrosynergy in consortium with Química Apollo. Newpek in consortium with Verdad Exploration bid consists of an additional royalty of 25 percent and a factor of 1.5 for additional investment. It offered US$2,980,002.02 as payment.

Petrosynergy in consortium with Química Apollo finished second after offering the same additional royalty and investment factor but only US$1,000,066.66 as payment.

Block 3:                                             

Newpek in consortium with Verdad Exploration wins. The bid consists of an additional royalty of 23.56 percent and a factor of 0 for additional investment.

Petrosynergy in consortium with Química Apollo comes in second after offering an additional royalty of 18.66 percent and a factor of 1.5 for additional investment.

Block 4:

Iberoamericana wins in consortium with PJP4. The bid consists of an additional royalty of 3.91 percent and a factor of 1 for additional investment.

Block 5:

Jaguar Exploración y Producción wins. The bid consists of an additional royalty of 40 percent and a factor of 1.5 for additional investment.

DEP PYG comes in second after offering an additional royalty of 40 percent and a factor of 1.5 for additional investment.

Block 6:

Shandong in consortium with Sicoval and Nuevas Soluciones wins after its higher payment broke a tie with Roma in consortium with Tubular, Suministros Marinos e Industriales and Golfo. Shandong in consortium with Sicoval and Nuevas Soluciones bid consists of an additional royalty of 40 percent and a factor of 1.5 for additional investment. It offered US$2,179,000 as payment.

Roma in consortium with Tubular, Suministros Marinos e Industriales and Golfo finished second after offering the same additional royalty and investment factor but only US$1,500,061 as payment.

Block 7:

Jaguar Exploración y Producción wins. The bid consists of an additional royalty of 40 percent and a factor of 1.5 for additional investment.

Petrosynergy in consortium with Química Apollo comes in second after offering an additional royalty of 25.66 percent and a factor of 1.5 for additional investment.

Block 8:

Jaguar Exploración y Producción wins. The bid consists of an additional royalty of 40 percent and a factor of 1.5 for additional investment.

Block 9:

Jaguar Exploración y Producción wins after its higher payment broke a tie with Promotora y Operadora de Infraestructura in consortium with Consorcio Petrolero 5M. Jaguar’s bid consists of an additional royalty of 45 percent and a factor of 1.5 for additional investment. It US$28,890,000 offered as payment.

Promotora y Operadora de Infraestructura in consortium with Consorcio Petrolero 5M finished second after offering the same additional royalty and investment factor but only US$10.117,000 as payment.

Block 10:

Shandong wins in consortium with Sicoval and Nuevas Soluciones. The bid consists of an additional royalty of 40 percent and a factor of 1.5 for additional investment.

DEP PYG comes in second after offering an additional royalty of 22.51 percent and a factor of 0 for additional investment.

Block 11:

Shandong in consortium with Sicoval and Nuevas Soluciones wins. The bid consists of an additional royalty of 45 percent and a factor of 1.5 for additional investment.

Tonally Energía comes in second after offering an additional royalty of 33.3 percent and a factor of 0 for additional investment.

Block 12:

Carso Oil and Gas wins after its higher payment broke a tie with Shandong in consortium with Sicoval and Nuevas Soluciones. Carso’s bid consists of an additional royalty of 45 percent and a factor of 1.5 for additional investment. It offered US$6,182,000 as payment.

Shandong in consortium with Sicoval and Nuevas Soluciones finished second after offering the same additional royalty and investment factor but only US$2,179,000 as payment.

Block 13:

Carso Oil and Gas wins after its higher payment broke a tie with Shandong in consortium with Sicoval and Nuevas Soluciones. Carso’s bid consists of an additional royalty of 40 percent and a factor of 1.5 for additional investment. It offered US$13,170,000 as payment.

Shandong in consortium with Sicoval and Nuevas Soluciones finished second after offering the same additional royalty and investment factor but only US$2,350,000 as payment.

Block 14:

Jaguar Exploración y Producción wins. The bid consists of an additional royalty of 40 percent and a factor of 1.5 for additional investment.

Perseus Exploración Terreste comes in second after offering an additional royalty of 40 percent and a factor of 1 for additional investment.

Table made with CNH information

Click for more information on the results and on the blocks. CNH’s list of winners can also be found here.

[For more information on the industry and the insiders’ perspective, check out Mexico Oil & Gas Review.]  

[For more articles on Mexico’s oil and gas industry, check out our blog here.]

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