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Renaissance Oil Prequalified for the Mature Field Auction In Mexico

Source: www.gulfoilandgas.com 12/2/2015, Location: South America

Renaissance Oil Corp. has received notification from the Comision Nacional de Hidrocarburos (CNH) of Mexico that the Company has been prequalified to participate in the Call 3 of Round 1 auction of 25 on-shore "Mature Field" petroleum blocks in Mexico. These blocks are located in the states of Chiapas, Nuevo Leon, Tabasco, Tamaulipas and Veracruz and contain extensive petroleum systems. Most of these blocks contain discovered fields with certifiable reserves, current or past production and existing infrastructure.

Craig Steinke, CEO of Renaissance, states, "Achieving prequalification to participate in the reform and privatization of the oil and gas industry in Mexico is a significant milestone for Renaissance. Our technical team has made extensive evaluations of the blocks available in the Mature Field Auction and has identified several attractive development and field optimization opportunities. We expect Renaissance to be an active participant in the Mature Field Auction and in the many additional bid rounds to come in Mexico."

Final bids for the Mature Field Auction are due by December 15, 2015.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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