Eduardo Canales Quoted by Bloomberg News on Winning Bidder in Mexican Oilfield Auction
Eduardo Canales, an associate in the oil and gas practice at Akin Gump, was quoted in the Bloomberg News article “Mexico’s Only Oil Champs Backed by Riverstone, BlackRock Money.”
The article notes that Sierra Oil & Gas, which is backed by two U.S. private equity firms, was the only winning bidder in Mexico’s first oilfield auction since the country did away with a state monopoly. Speaking of Sierra, Canales said, “They have nice funding, and their team has great experience. They’ll be the ones to build relationships with the government and generally manage the project.”
Sierra won the oil blocks, just off the Gulf of Mexico coast, in a joint bid with London-based Premier Oil Plc and Houston-based Talos Energy.