In the Headlines
September 30, 2015

Successful Auction for Oil Drilling Rights in Mexico Follows Weak Debut

The New York Times

Mexico's follow-up auction for leases to explore blocks in the Gulf of Mexico was successful, garnering several bids from investors attracted to more relaxed rules. The National Hydrocarbons Commission in Mexico gave companies advance notice of minimum prices for the blocks to allow them enough time to adjust their bids. The commission also extended what companies could do in the areas up for auction, such as explore for new oil or pump oil from existing reserves.

Attorney Jose Antonio Prado said, “I think it was another good sign that the government took the approach to fix what did not work in the first bid."

READ: Successful Auction for Oil Drilling Rights in Mexico Follows Weak Debut

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