Client Alert: Energy Reform in Mexico: Round Three – Shallow Water Bid Round

On September 29, 2017, Mexico’s National Hydrocarbons Commission (the “CNH”) published bid guidelines (the “Guidelines”) pursuant to which 35 shallow water oil and gas exploration and production blocks will be tendered in March 2018.   The Round Three tender offers light crude and natural gas areas located in the Burgos, Tampico-Misantla-Veracruz, and Cuenca del Sureste basins in the Gulf of Mexico.  This Client Alert provides a brief summary of the key terms in the Guidelines and offers commentary regarding the tender’s significance in the overall context of Mexico’s growing oil and gas industry.