Skip to comments.The fracking divide: Mexico’s oil frontier beckons U.S. drillers in wake of new law
Posted on 04/21/2014 6:07:43 AM PDT by thackney
The geological marvel known to Texas oilmen as the Eagle Ford Shale Play is buried deep underground, but at night you can see its outline from space in a twinkling arc that sweeps south of San Antonio toward the Rio Grande.
The light radiates from thousands of surface-level gas flares and drilling rigs. It is the glow of one of the most extravagant oil bonanzas in American history, the result of the drilling technique known as hydraulic fracturing, or fracking.
Curving south and west, the lights suddenly go black at Mexicos border, as if there were nothing on the other side.
This is a reflection of politics, not geology. The Eagle Ford shale formation is believed to continue hundreds of miles into Mexico, where it is known as the Burgos Basin. But while more than 5,400 wells have been sunk on the Texas side since 2008, Mexico has attempted fewer than 25.
A landmark energy bill approved by Mexicos Congress in December is aimed at correcting this disparity. It has opened the countrys oil industry to private and foreign investment for the first time in 75 years, with the goal of bringing in new technology, expertise and a risk-taking culture long missing at the state oil monopoly, Pemex.
Lawmakers will be hashing out the nuts and bolts of the law over the coming weeks, but expectations are that U.S. and other global companies will be able to bid on oil and gas projects by the end of this year, beckoning the fracking crews across the border into some of Mexicos most violent areas.
The United States and Canada are exploiting their shale resources on a massive scale, and were still in the prospecting stage, Gustavo Hernandez, the director of exploration and production at Pemex, said in an interview. But...
(Excerpt) Read more at washingtonpost.com ...
Let’s have the Gringos come in with their technology find the oil, get it flowing then we will nationalize everything for the benefit of the people of course.
Could be a economic magnet to pull illegals back to Mexico. Also, could create additional jobs for U.S. Citizens as well.
OPEC will not be amused.
Maybe some Gringos will illegally settle in Mexico.
Its exactly that kind of thinking that lost them the southwest.
Personally, I don't want any more of Mexico.
“This is a reflection of politics, not geology. The Eagle Ford shale formation is believed to continue hundreds of miles into Mexico, where it is known as the Burgos Basin. But while more than 5,400 wells have been sunk on the Texas side since 2008, Mexico has attempted fewer than 25. “
Sorta, kinda like Pennsylvania and NY.
BTW....with horizontal drilling, why can’t we just stay north of the Rio Grande and drink their milkshake?
We are talking about a lot more coverage than a few miles.
Like Mexico respects the border...
Really though...who in the industry is foolish enough to sink billion$ into that country?
It’s a great resource find, but unfortunately it will be plundered. Mexico is way ahead of us when it comes to governmental looting, but we’re doing our best to catch up.
^^^ This. ^^^
I noticed on your map that there was gas from the Utica formation up into Quebec. I wasn’t aware of that. I did a little reading and it sounds like they are having good success there so far. Since we are just south of Quebec it could be a real boon for us in VT.
And not a damn one in NY to compare to them
Yeah, pilots I believe but certainly no excuse not to pursue this in NY.
They could have a manufacturing/business renaissance in upstate areas.
That would mean people would be less dependent on government though.
“Maybe some Gringos will illegally settle in Mexico.”
LOL! Maybe so! However, I’m thinking that the only Gringos that would settle in Mexico would be those working. And, those who may choose to retire there. Actually, there is already quite a few American seniors down there - but, they’re paying their own way, not riding Mexican entitlements.