ExxonMobil Corporation and Hunt Oil Company, a subsidiary of Hunt Consolidated Inc., recently passed the first hurdle in their quest to access the lucrative oil and gas reserves off the Mexican Coast.
The two Texas-based companies are among the 19 U.S. companies and seven groups approved by Mexico to bid on 14 shallow-water exploration blocks off the mainland in the Gulf of Mexico. Thirty-four companies applied to prequalify for the July 15 auction.
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