Is the Bay of Campeche in Mexican waters? I believe Mexico's constitution does not allow foreign companies to drill in their water. Trueheart is quite knowledgeable on the drilling situation in Mexico, I bet he can enlighten us.
Littlejohn, the Bay of Campeche is 100% Mexican water, and is the site of the massive but declining Canterelli field. It is owned and operated by Pemex, Mexico's government O&G company.
I will check to see if there are any foreign companies helping Pemex in the bay.
Mexico Constitutionally cannot have a percentage participant in its oil production.