White & Case Advises Pan American Energy on Mexico Hydrocarbons First Upstream Asset Swap

Global law firm White & Case LLP has advised Hokchi Energy, a subsidiary of Pan American Energy, on the first-ever combined transfer of the operatorship of a Mexican oil block approved by the National Hydrocarbons Commission (Comisión Nacional de Hidrocarburos (CNH)) in Mexico, with a transfer of interest in an Exploration and Extraction Contract.

Under the transaction, Hokchi Energy will acquire a 47.5 percent participating interest in Block 2 from Talos and Sierra, located in the Southeast Basin off the coast of Mexico. In exchange for the portion of the participating interest acquired from Talos, Hokchi Energy will transfer to Talos a 25 percent participating interest in Block 31, located just south of Block 2. Hokchi Energy will operate both Block 2 and Block 31 once the transaction closes.

Hokchi Energy and Pan American Energy are both Latin America–based oil & gas companies who focus on the exploration and extraction of oil & gas.

The White & Case team that advised on this matter was led by partners Carlos Viana in Miami, Saul Daniel in Houston and counsel Juan Ruenes in Mexico City. The team also includes associates Cristian Blumm and Shawn Beloin in Houston, and José Antonio Ruiz in Mexico City.

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