Category Archives: Featured

Pemex Migration Regime: Discretionality vs. Market Solution

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Pemex Migration Regime: Discretionality vs. Market Solution This report, MEI 827, describes the Pemex Migration Regime, its purposes, limitations, time-line and peculiar lexicon. The report reconstructs the time-line in 14 steps, each with its own technical vocabulary — much of which consists of neologisms like “migración” that have no prior usage in Mexican legislation or Continue Reading

Inter-American Regulators Conference: Inventory of Issues

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Inter-American Regulators Conference: Inventory of Issues This report identifies themes and topics pertaining to hydrocarbon regulation that arose in presentations and discussions in the Hydrocarbon Regulator Conference, which was held at the University of Houston (UH) on Oct. 7, 2016. The report draws on panels on Brazil, Mexico and Colombia, also on the remarks of Continue Reading

Trion Farmout Analogy: A farmout and the Trion auction are alike in just two respects

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Trion Farmout Analogy: A farmout and the Trion auction are alike in just two respects Industry observers and their lawyers who are familiar with farmout agreements in jurisdictions outside Mexico have been puzzled by the government’s use of “farmout” for a contract model that lacks the essential elements of this kind of agreement. A farmout Continue Reading

Deconstructing Minister Coldwell

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Deconstructing Minister Coldwell MEI 819 (HOUSTON) — Pedro Joaquin Caldwell, 66, Mexico’s energy minister since 2012, was the keynote speaker at the conference on Mexico’s Energy Reform at Rice University’s Baker Institute on September 23, 2016. His presentation, delivered in Spanish and with slides in English, offered an overview of the new oil and power Continue Reading

Trión Deal: Farmout or PSC?

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Trión Deal: Farmout or PSC? — The deal being offered to prospective bidders is not yet clear. The winner is required to spend US$464 million, but is this an Earning Event in a farmout, or Carried Interest in a Production Sharing Contract?

Energy Reform As PRI Franchise

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Energy Reform As PRI Franchise: Looking for the long term Major changes in energy policy in Mexico have always taken place during PRI administrations. This report asks about how the energy reform package of 2013-15 may be understood as a PRI work-product, that is, as measures that are influenced by PRI’s ideology and seven-decade experience Continue Reading

MEI 809.1 — Seeking Synergy in Perdido: Pemex offers too little, too late

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MEI 809.1 — Seeking Synergy in Perdido: Pemex offers too little, too late This report (MEI 809) was finished on June 5. Its purpose was to identify contract models that could serve for IOC partnerships in Pemex’s blocks, with special reference to blocks that might auctioned in tandem with those in Round 1.4, scheduled for Continue Reading