Emphasizes Competition, Cooperation and CollaborationSAN ANTONIO – Texas Railroad Commission Chairman David Porter today said Mexico’s success in developing its energy resources will rely largely on its regulation. Porter spoke on a panel at the 2nd Mexico Gas Summit where the discussion focused on the challenges and opportunities for the shale gas industry in Texas and Mexico now that Mexico has opened its oil and gas sector to private investment.
“As Mexico moves forward with shale development, a consistent, competitive regulatory environment will be critical for maximizing its hydrocarbon potential, and there’s a lot of potential,” Porter said. “This is an incredibly exciting time for energy production, and once prices stabilize, Mexico will have an excellent opportunity to capitalize on its natural resources.”
Porter emphasized the importance of collaboration, and said Texas is happy to serve as resource as Mexico expands its energy industry and infrastructure.
“I’ve traveled to Mexico several times over the past couple of years to meet with energy and business officials because – having been through extensive shale development and management – Texas has gained some valuable insight over the past decade,” Porter said. “Cooperation will enhance the economic, geopolitical and environmental benefits for both of our countries.”
Panelists answered questions about near term potential for shale exploration in the Burgos Basin, infrastructure gaps to facilitate exploration and production in Mexico, and security and other operational concerns Mexico faces. Additional panelists included Bob Watson, CEO of Abraxas Petroleum; Glenn Hart, CEO of Laredo Energy; and Carlos Garcia, International Business Development Manager for Lewis Energy.
Texas Railroad Commission Chairman David Porter was elected statewide by the people of Texas to serve as a member of the Commission in November 2010. A Certified Public Accountant and successful small business owner, Chairman Porter has worked with oil and gas producers for nearly three decades providing strategic financial advice and tax counsel. He is the senior member of the Commission with a proven record of principle-driven, free market conservative leadership.