Equity.Guru podcast: Renaissance Oil (ROE.V) partners with Russian giant in Mexico

Renaissance Oil (ROE.V) is developing a diversified shale and mature fields portfolio in Mexico.  The timing is fortuitous.

For 80 years, Mexico’s state-owned PEMEX was the only energy operator in Mexico. The country’s oil production fell for 15 years, declining from 3.4 million barrels a day (mb/d) in 2005 to 1.9 million (mb/d) now.

PEMEX lacks the technology and capital to unlock the value of shale.  It requires modern techniques to stimulate the gas bearing zones.  Pemex is now collaborating with international Oil & Gas companies.

Russian oil producer LUKOIL chose Renaissance as their partner to explore and develop the Amatitlán block in Mexico. LUKOIL has a market cap of $48 billion, a million of barrels of production and 100,000 employees in 40 countries around the world.

Craig Steinke, the CEO of Renaissance, spoke with Equity.Guru’s Guy Bennett about the opportunity in Mexico, significant 2018 revenues and the company’s international partnerships.