Hogan Lovells and Thompson Knight ink first Pemex farm-out

Hogan Lovells BSTL has helped Mexican state oil company Pemex enter a hydrocarbon exploration joint venture with Australian miner BHP Billiton worth US$14 billion in its first ever farm-out.

Hogan Lovells and Thompson Knight ink first Pemex farm-out iStock.com/nielubieklonu

The JV will develop the Trion offshore hydrocarbon block, located 200 kilometres east of the coastal city of Matamoros. Pemex retains a 40% stake in the field, while BHP controls 60%.

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