Texas Railroad Commissioner Christi Craddick has met representatives from the Mexican Energy and Finance Ministries to review best practices and regulations governing the state’s shale industry. Mexico is reviewing terms of an auction for shale reserves in the Burgos basin located near the Texas borders.
“We have been a resource for Mexico since their energy reform process began, and as Mexico initiates shale exploration and production, we welcome greater cross-border cooperation, collaboration and regional success,” Craddick said in a statement.
Mexican shale gas reserves are estimated at 545 Tcf, which is 10th worldwide in terms of technically recoverable reserves. Pemex began shale exploration in the Burgos basin just south of the U.S. border last year.
The Eagle Ford shale reserve area straddles the border with Mexico, where it’s known as the Boquillas formation. Technically recoverable reserves on the Mexican side of the border are estimated at 30 Tcf of gas and 6.3 billion barrels of oil.