In early May the University of Texas at San Antonio's (UTSA's) Institute for Economic Development partnered up with the U.S. Department of Commerce to host a series of sessions designed to help businesses tap into Mexico's newly reformed energy sector,which offers a wealth of new opportunities for companies in the U.S. and around the world.
“Speakers addressed such topics as the economic impact of shale oil and gas development in Texas,issues associated with legal and regulatory reform,as well as opportunities for small and medium-sized businesses,” writes the San Antonio Business Journal (SABJ). “Energy reform in Mexico presents opportunities for private companies all over the world,but particularly for those in Texas,as this is where shale oil-and-gas extraction techniques were first pioneered.”
In addition,the SABJ reports that San Antonio’s upcoming 4th Annual Eagle Ford Shale Consortium Conference,scheduled for May 27-29,will also focus heavily on the great promise brought about by energy reform in Mexico. In fact,the UTSA’s Institute for Economic Development will release a preliminary report at the event,laying out essential economic and legal aspects of oil and gas production in Mexico’s northern states of Coahuila,Nuevo Leon,Tamaulipas and Vera Cruz.
“Opportunities for unconventional or shale oil-and-gas production in Mexico are in the earliest stages of development,” writes the SABJ. “Due to its close proximity to major shale field development in the Eagle Ford and the Permian Basin,Mexico is particularly well positioned to take advantage of unconventional extraction techniques.”
According to the article,Mexico is sitting on at least 545 trillion cubic feet of shale natural gas reserves,along with trillions more of conventional reserves. In addition,estimates for unconventional oil reserves in Mexico have soared upwards of 13 billion barrels,and it currently appears that the majority of Mexico’s shale prospects are located in the north and northeastern sections of the country,where plans for new infrastructure are already in the works to make extraction go more smoothly.
What does all this mean for the future? For one thing,it means the importance of Mexico’s recent energy reforms can’t be overstated. Also,it’s important to note that Mexico’s reform agenda also includes electricity generation and distribution,along with telecommunications and tax reforms,which all together will transform the nation’s economy while creating a wealth of new opportunities for companies throughout the U.S. and Texas.
What does North American energy independence look like to you? Share your thoughts in the comments section below and join the discussion.