Client Alert: Mexico Round 3.2 and Round 3.3 – Onshore Conventional and Unconventional

Mexico’s National Hydrocarbons Commission (the “CNH”) has announced terms and conditions to bid on 37 conventional onshore blocks with light crude oil and wet and dry gas (“Round 3.2”) and nine unconventional onshore blocks with wet and dry gas (“Round 3.3”). The Round 3.2 blocks on offer are located in the Burgos, Tampico-Misantla-Veracruz, and Southeast basins, as shown in Exhibit A, and the Round 3.3 blocks are located in the Burgos basin in northeast Mexico, as shown in Exhibit B. This Client Alert provides a brief summary of the key terms and offers commentary regarding the significance of the bid rounds in the overall context of Mexico’s growing oil and gas industry.