Mexican independent exploration and production company Citla Energy, which is backed by US-based private equity firm ACON Investments, has won its fourth hydrocarbon exploration and production contract in Mexican shallow waters.
(Press Release) Mexico City, April 9, 2018. Citla Energy, SAPI de CV (“Citla” or the “Company”), an independent Mexican hydrocarbon exploration and production company, is pleased to announce that it has won its fourth production-sharing contract as part of Round 3.1 of the Mexican Energy Reform. The newly won contract is associated with “Block 15,” a geographic area located in the Tampico Misantla basin of the Gulf of Mexico, covering about 962 km2. With the addition of “Block 15,” Citla’s portfolio has abundant prospective resources throughout an area of 2,581 km2 and geologic diversification across the two most important and prolific basins in the country – the South East and Tampico-Misantla basins. Citla has obtained this award in a 50/50 consortium with Cairn Energy PLC as operator.
Citla’s success in Round 3.1 is another important step in the Company’s strategy to build a strong portfolio of carefully selected assets in Mexico, through active participation in the Mexican Energy Reform, both independently and in partnership with other participants.
Citla is an independent Mexican oil company founded in 2015, with a strong institutional investor base that includes international and local funds managed by affiliates of ACON Investments, L.L.C. (“ACON”), including capital from some of the largest Mexican pension funds, as well as other institutional investors.
Alberto Galvis, CEO of Citla, commented: “The award of this contract is another milestone in our growth and diversification strategy, and one that consolidates Citla’s platform as one of the few leading Mexican companies in the nascent oil and gas sector in the country.”
Citla Energy is a Mexican independent exploration and production company. With offices in Mexico City and Houston, Citla is an active participant in the opening of Mexico’s oil & gas sector, where it is building a portfolio of selected onshore and offshore assets both independently and in partnership with other industry participants. For more information, visit wwwcitlaenergy.com.
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States and Latin America. Founded in 1996, ACON has responsibility for managing approximately $5.5 billion of capital. ACON has professionals in Washington, DC, Los Angeles, Mexico City, São Paulo and Bogotá. For more information, visit www.aconinvestments.com.