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Harver Group Identifies Oil Opportunity in Mexico - Mexico is soon set to open to foreign oil drillers, after being closed for the last 75 years. Analysts at Harver Group believe this is a stellar opportunity for American firms to profit and are recommending an immediate buy of Exxon and Noble Corp.
Harver Group Identifies Oil Opportunity in Mexico

 

NewswireToday - /newswire/ - Tokyo, Japan, 2013/10/10 - Mexico is soon set to open to foreign oil drillers, after being closed for the last 75 years. Analysts at Harver Group believe this is a stellar opportunity for American firms to profit and are recommending an immediate buy of Exxon and Noble Corp..

   
 
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For the last 75 years, Mexico has restricted drilling for oil in their country to domestic firms; but this might change, which will provide a huge opportunity for major oil producers according to analysts at Harver Group. They also cited the country's free trade agreements, low wages, and neighbouring massive oil consumer the United States, as all drivers of growth. Over the last 10 years Mexican oil production has declined by more than 20%; new technologies and drilling techniques are required to maintain production. Mexico's new President Peña Nieto, has stated that foreign investment is required to increase oil production.

Analysts at Harver Group (harvergroup.com) believe that Exxon Mobile has the advantage of being the first mover on the new opportunity. Exxon has made multiple deals with state owned oil producer, PEMEX. The most recent is a 5 year agreement, in which the two firms will collaborate on drilling technologies and human resources training. Exxon is already one the biggest drillers in the Gulf of Mexico, so drilling beyond the US boarder, in Mexican waters seems to make sense. Exxon has the best drilling technologies in the world, which will be important in tapping into hard to reach reverses in Mexico.

Noble Corp. is an offshore oil driller, that will have huge opportunities in Mexico. Noble is currently the biggest offshore driller in the country; having already struck a deal with PEMEX, Noble has 11 oil platforms operating in the Bay of Campeche. In the last 10 years, 552 sites have been drilled in the Gulf of Mexico in Mexican waters, compared with 4,600 in American waters. The geological features are the same in the two regions, leading many industry exports to believe there are many untapped resources in the gulf.

 
 
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Written by / Agency / Source: Harver Group

 
 

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Harver Group Identifies Oil Opportunity in Mexico

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Publisher Contact: Edward Harrington - HarverGroup.com 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Harver Group securities in any jurisdiction including any other companies listed or named in this release.

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