Just looking at the simple math of the matter, Mexico’s recent second attempt to solicit winning bids for its oil blocks was much more successful than its disappointing first foray into the world of auctioning oil blocks. When the first round of bidding was held back in July 2015, the Mexican government offered 14 oil blocks for sale and only had two blocks auctioned off. In contrast, at the recent auction five areas of oil and gas reserves were offered and there were three winning bids.
Houston-based Fieldwood Energy and its partner Petrobal were one of three successful bidders in the recent auction put on by the Mexican government. The auctions began after Mexico opened its oil and gas industry to foreign and private investors. [See "Mexico's Oil Auction Creates Jobs for Attorneys," Texas Lawyer, Sept. 28, 2015.]
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