Skip to content

Mexico To Start Fracking Next Year

September 26, 2016
tags:

By Paul Homewood 

 

image

http://mexiconewsdaily.com/news/fracking-expected-to-begin-next-year/

 

From Mexico News Daily:

 

Fracking in the shale oil fields of Mexico could begin next year, the Energy Secretary said at a meeting yesterday in Houston, Texas.

ADVERTISEMENT

Pedro Joaquín Coldwell was speaking to energy company executives and others at Rice University when he advised that “everything will be ready by March” to begin auctions for the untapped fields.

The Mexican government put a hold on inviting bids from shale drillers when prices plunged two years ago.

“We thought the industry wouldn’t be interested,” he said at the event, whose focus was Mexico’s energy reforms.

Two other factors were the lack of environmental regulations governing hydraulic fracturing and the pipelines needed to move natural gas, a byproduct of shale oil drilling.

Coldwell said the environmental regulations should be ready by March.

He also told the gathering that Mexico has attracted US $22.4 billion in energy investments from 59 different companies since the reforms, introduced by the administration of President Enrique Peña Nieto, went into effect.

The investments include $10 billion for 10,000 kilometers of pipelines, $7 billion in exploration and production and $2.5 billion for new seismic maps to track oil and gas reserves.

Mexico’s shale fields are located across the border from the highly productive Eagle Ford shale formation in Texas.

– See more at: http://mexiconewsdaily.com/news/fracking-expected-to-begin-next-year/#sthash.6vZ4hIdS.dpuf

Fracking in the shale oil fields of Mexico could begin next year, the Energy Secretary said at a meeting yesterday in Houston, Texas.

ADVERTISEMENT

Pedro Joaquín Coldwell was speaking to energy company executives and others at Rice University when he advised that “everything will be ready by March” to begin auctions for the untapped fields.

The Mexican government put a hold on inviting bids from shale drillers when prices plunged two years ago.

“We thought the industry wouldn’t be interested,” he said at the event, whose focus was Mexico’s energy reforms.

Two other factors were the lack of environmental regulations governing hydraulic fracturing and the pipelines needed to move natural gas, a byproduct of shale oil drilling.

Coldwell said the environmental regulations should be ready by March.

He also told the gathering that Mexico has attracted US $22.4 billion in energy investments from 59 different companies since the reforms, introduced by the administration of President Enrique Peña Nieto, went into effect.

The investments include $10 billion for 10,000 kilometers of pipelines, $7 billion in exploration and production and $2.5 billion for new seismic maps to track oil and gas reserves.

Mexico’s shale fields are located across the border from the highly productive Eagle Ford shale formation in Texas.

– See more at: http://mexiconewsdaily.com/news/fracking-expected-to-begin-next-year/#sthash.6vZ4hIdS.dpuf

Fracking in the shale oil fields of Mexico could begin next year, the Energy Secretary said at a meeting yesterday in Houston, Texas.

Pedro Joaquín Coldwell was speaking to energy company executives and others at Rice University when he advised that “everything will be ready by March” to begin auctions for the untapped fields.

The Mexican government put a hold on inviting bids from shale drillers when prices plunged two years ago.

“We thought the industry wouldn’t be interested,” he said at the event, whose focus was Mexico’s energy reforms.

Two other factors were the lack of environmental regulations governing hydraulic fracturing and the pipelines needed to move natural gas, a byproduct of shale oil drilling.

Coldwell said the environmental regulations should be ready by March.

He also told the gathering that Mexico has attracted US $22.4 billion in energy investments from 59 different companies since the reforms, introduced by the administration of President Enrique Peña Nieto, went into effect.

The investments include $10 billion for 10,000 kilometers of pipelines, $7 billion in exploration and production and $2.5 billion for new seismic maps to track oil and gas reserves.

Mexico’s shale fields are located across the border from the highly productive Eagle Ford shale formation in Texas.

http://mexiconewsdaily.com/news/fracking-expected-to-begin-next-year/

 

The idea that Mexico will leave these “stranded assets” in the ground is ridiculous.

 

Mexico pledged in its INDC to reduce GHG emissions by 22% of Business as Usual, by 2030. As with most of these promises, you have to watch the pea. In this case, Mexico’s pledge will actually mean GHG emissions are 7% higher than in 2006, when the last stocktake was done.

 

Mexico is almost totally dependent on fossil fuels and this won’t change in the foreseeable future.

 

image

BP Energy Review

 

 

It is also heavily reliant on the dollars that the export of oil brings in.

No amount of spin will change these facts.

3 Comments leave one →
  1. September 26, 2016 6:49 pm

    Mexico’s shale is essentially a southrn extension of south Texas’ Eagle Ford, a formation that has been significantly explored and fracked. So there is almost no exploration risk. They plan on having the regulatory framework in place by end 1Q17.

  2. tom0mason permalink
    September 27, 2016 9:21 am

    Well done Mexico.
    Please ensure that the money from this endeavour will be used wisely.

  3. Roy Hartwell permalink
    September 27, 2016 10:05 am

    Just as an aside, I heard on the BBC news today that the first tanker containing US sourced shale gas will be arriving in the UK soon. Ironic or what !!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: