Today’s collapsing crude prices and the current shaky U.S. stock market are not slowing down Fieldwood Energy’s move to Mexico to seek oil and gas in the country’s shallow water fields. Looking for long-term opportunities versus a quick return on investment, Houston-based Fieldwood may well be the new face of the Texas energy sector.
According to a recent announcement, the company’s Mexican subsidiary, Fieldwood Energy E&P Mexico, recently locked into a production-sharing contract agreement for Area 4, which was awarded in the Round 1 Call 2 bid process with the Mexican government.
