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Title : Mexico Cancels GOM Project -- Blame It On Brazil -- December 11, 2017
link : Mexico Cancels GOM Project -- Blame It On Brazil -- December 11, 2017

Mexico Cancels GOM Project -- Blame It On Brazil -- December 11, 2017

From Reuters via Rigzone, data points:

• the Nobilis-Maximino project, a joint venture with Pemex, scuttled
• potentially lucrative deepwater GOM project
• reserves estimated to be 500 million bbls, mostly crude (less than two years of Bakken production)
• lack of interest by investors
• Mexico blames it on "low oil prices" and recent Brazil auction
• recent Brazil auction: six of eight blocks in Brazil were award to majors in late October
• huge setback for Mexico (see article)

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