Who are the winners of the 1st phase of the Round One?

Who are the winners of the 1st phase of the Round One?

CNN Expansión – July 20, 2015

Sierra Oil & Gas, Talos Energy and Premier make up the winning consortium of two contract areas; in this call they were tendered 14 blocks, of which 12 were deserted


MEXICO CITY (CNNExpansión) – Sierra Oil & Gas and its partners is the first private company to exploit hydrocarbons in Mexico, after more than 70 years for Pemex retain a monopoly on the exploration, exploitation and distribution of oil and gas.

The Mexican firm that formed a consortium with US Talos Energy and Premier Oil gained two and seven blocks of the first tender call Round One.

The company has Institutional Infrastructure, Riverstone and EnCap as national and international sponsors who contribute capital, skills, experience and a network of over 300 companies in the portfolio of energy.

Sierra Oil & Gas has an initial capital of 525 million dollars and agreed terms for an additional $ 525 million.

“Sierra is focused on exploration and production opportunities arising from the energy reform. In addition, market-related infrastructure for the oil and gas sector activities will be considered, “the company says on its website.

The company is directed by Ivan Sandrea, who previously worked at Ernst & Young London, he served as vice president of global strategy at Statoil and worked at the Organization of Petroleum Exporting Countries (OPEC).

Talos Energy

Talos is focused on the exploration and production of oil and natural gas.

The American company, with experience in shallow and deep waters, has its main assets in the Gulf of Mexico and some areas south of Louisiana.

Talos Energy, directed and chaired by Timothy S. Duncan, reported a liquid capital of $ 130.4 million at the end of the first quarter of this year, according to the latest update to its report.

In the same period, the average daily net production was 22,100 barrels of oil equivalent, an increase of 38% annually.

Premier Oil

The British company Premier Oil participants: in the implementation and development of high quality projects oil and gas.

The company’s oil exploration and production, founded in 1934, is CEO Tony Durrant.

Premier produces about 60,000 barrels of oil equivalent per day, mainly in the UK, Indonesia and Vietnam, according to its website.

At the close of 2014, the UK reported a loss after tax of 210.3 million dollars, compared with a profit of 234 million in 2013.

The areas won in the Gulf

The consortium won the blocks 2 and 7 of the first call for hisdrocarburos exploration in shallow waters of the Gulf of Mexico.

The contractual area 2 with reserves of 341 million barrels of oil equivalent, has an area of ​​194 square kilometers, contains light oil, and is located off the coast of Veracruz.

For this block, the probability of success is geologic 40% and 20% commercial.

While the second tender won by the consortium has 465 kilometers off the coast of Tabasco, with the same hydrocarbon in block 2.

The area has reserves of 263 million barrels of oil equivalent.

The geological chance of success is 23% and 14% commercial.