US-Mexico Cross Border Energy Cooperation: a new era in the Gulf of Mexico

By
Duncan Wood

First in his series of Monthly Reports on PEMEX and U.S.-Mexico Energy Cooperation, this article explores the implications of the recently signed Transboundary Hydrocarbons Agreement, which resolves the question of what to do with potential oil reserves along the dividing line between Mexico and the United States in the Gulf of Mexico. Wood sees the agreement as "extremely good news," as it marks the "end of a decades-long process to try to determine oil rights in these two areas, opening the door to exploration and production that offers the prospect of exciting new modes of cooperation between Pemex and private oil companies."

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