A PYMNTS Company

Germany: DEA to buy Mexico’s Sierra Oil & Gas

By  |  December 5, 2018

Germany’s Deutsche Erdoel (DEA) announced on Wednesday, December 5,  it plans to buy Mexican independent Sierra Oil & Gas in the largest such merger in Mexico since the historic 2014 energy reform that dismantled state-owned Pemex’s monopoly.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The purchase will “provide us with a high-quality exploration and appraisal portfolio in one of the world’s most sought-after offshore basins,” said DEA CEO Maria Moraeus.

    Sierra holds interests in six exploration and appraisal blocks in Mexico. These include the Zama discovery, one of the largest shallow water discoveries in the past 20 years globally. The exploration blocks cover around 9,400km2 in the core part of Mexico’s southeast basin, a proven hydrocarbon area.

    Full Content: Natural Gas World

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.