User talk:Shawnbartholomae

Shawn Bartholomae and Prodigy Exploration Inc notes new oil and gas law in Mexico

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The CEO of Prodigy Exploration Inc.,

Shawn Bartholomae
Has stated that new developments in the laws pertaining to the petroleum industry in Mexico are well worth paying attention to. Legislative actions taking place in Mexico are getting a lot of  attention from the oil industry in Texas. Recent rulings have opened the door to revenue sharing where outside interests can now openly partnership with Mexican companies and own the oil and gas as a result.

This has been a difficult struggle for the lawmakers in Mexico. Mexico has passed a big hurdle to open its oil and gas fields to outside investor’s .The Mexican Senate passed the bill overwhelmingly by a vote of 90-27. The passing of this law clears the last major legal hurdle and ends on a note that is promising to end Mexico’s state monopoly on its oil and gas.

Government officials will consider major issues such as how much of the reserves will be open for bidding and how much  Mexico will   keep for themselves. This issue is likely to get a critical review by the potential investors. Investors are not likely to express much interest in left over “scraps” in shallow formations and aging mature fields. Considering that the Northern states in Mexico sit adjacent to very productive formations in Texas such as the Buda Shale and the Eagle Ford Shale, the interest among drillers and investors is running high.

Many Mexican citizens consider these oil fields to be their “sacred treasure” and are not anxious to share the oil with outside investors. About five hundred people had gathered outside of the Senate building in Mexico City with signs reading  “Mexico will not forgive you”. The issue however is a two edged sword. Pemex, the national oil company of Mexico has seen its oil production, and thus its revenue on the decline. The feeling among the engineers of Mexico is that they have a dire need for an influx of new technology, such as what has helped the booming fields of Texas.

The issues are driven by reality. Reality says that things have to change to avoid major social  and financial  calamities. Over the last decade, oil production by Pemex, has declined over 20% .This continuing decline bodes disaster for a government that gets roughly 35% of its operating revenue from  its petroleum production.

Further declines  loom in the future, as shallow and vertical  wells currently are  yielding the majority of Mexico’s production. These wells are maturing and  many of the wells are reaching depletion levels. Pemex will have to go after deeper and more sophisticated formations that will demand a higher level of technology. . Mexico, for a variety of reasons, has seen Pemex fail to keep up with major technological advances. Citizens can note that   right across the border, there is a boom going on. They see the drillers hitting bountiful formations like the Eagle Ford Shale and the Buda,  and  on up further North they are hitting the highly productive Permian basin wells. Their geologists are keenly aware of the fact that the same formations must lie under their soil. They have long made the point “These giant shale formations do not merely come to the border of Mexico and stop”

The prospect of having huge, as of yet, untapped formations equivalent to the Eagle Ford Shale and the Buda, the Cline and even the vast Bakken Shale’s is a tantalizing prospect for investors.

“ We will be watching the developments in Mexico closely.”States CEO of Prodigy Exploration Inc, Shawn Bartholomae. If Mexico were to develop the full potential of their petroleum, they would be joining with Canada and the United States to make the North American region the hub of the world’s oil production.

This combined production area would put North American oil production levels greater than that of OPEC. It has been decades since North America could make that claim.
 * Revision ends.


 * Previous Edition

Shawn Bartholomae talks on Texas petroleum and the water issues

The drought continues in Texas. As the concerned parties take stock of the situation, it becomes clear that the Texas petroleum business is doing and has done its part to help the state through its tough times.

Lawmakers in Texas had taken an unusual step in the passage of laws pertaining to  a major issue. Usually when a state or body of lawmakers tackle an issue, they lay the money on the table and then start the processes to determine how the money will be divided among the various entities. Shawn Bartholomae and Prodigy Oil and gas notices that.

Proposition 13, passed in Texas, reversed these steps. The laws, pertaining to water issues and how they might be best addressed and to what purposes the money will be spent was passed with no money in sight. A good sound body of laws that was far sighted enough to address the issues for decades was passed. Then came the money. Further stated by Shawn Bartholomae that during the regular session, the Legislature passed  several  bills. these were designed to tap  into surplus funds in what is called  the Rainy Day Fund. This plan not only funded the water but generated a surplus of $900,000,000 to fund the State Water Plan, as well as other road, port and rail infrastructure projects desperately needed. the State of Texas is adding an average of 1000 persons a day to its population through imigration. The oil and gas industry forms the basis and support for the state’s rapidly growing economy.

The State Water Implementation Fund (SWIFT) that will contain $2.5 billion to fund projects in the State Water Plan; Along with the funding of critical water projects, the industry is leading the way in innovation to preserve the water and to greately reduce the amounts of water needed for its own operations. You can learn more on this article and more from www.prodigyoilandgas.com

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