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JAGUAR

MEXICO - Energy & Mining

Warren Levy

CEO, Jaguar EP

Bio

Warren Levy is CEO of Jaguar E&P. He has extensive experience in developing natural resource companies, for more than 24 years, in more than 20 countries. He has contributed strategically to the economic growth and development of the industry in Latin America in executive positions in Estrella International Energy Services, Schlumberger, Pentanova Energy Corp, and President Petroleum. He has also been a board member of several oil operators and oil services companies such as Miramar Hydrocarbons, Montan Energy, and Quad Energy.

"Warren Levy is CEO of Jaguar E&P. He has extensive experience in developing natural resource companies, for more than 24 years, in more than 20 countries. He has contributed strategically to the economic growth and development of the industry in Latin America in executive positions in Estrella International Energy Services, Schlumberger, Pentanova Energy Corp, and President Petroleum. He has also been a board member of several oil operators and oil services companies such as Miramar Hydrocarbons, Montan Energy, and Quad Energy."
TBY talks to Warren Levy, CEO of Jaguar EP.
What is Jaguar EP’s commercial strategy in Mexico?

In the business of oil and gas, we have to be as cost competitive as the US, which is a challenge because the US has a more efficient regulatory regime and it does not face the same challenges that Mexico does; however, that being said, Mexico can still succeed because of the talent and willingness here to overcome those challenges. It would be beneficial if the country could come up with better systems to shorten timeframes; for example, instead of taking two to five years in Mexico to drill a well and get that gas out into the market, it would be significantly more advantageous to shorten it to about six to 12 months, similar to the US. One of the things we have been working on with the government is helping it understand that a gas producer should not be treated the same as a gas consumer in terms of regulations and so on. If it prioritized connections for producers, this would ensure greater gas supply. We all want Mexico to be a cost-effective place to do business, attract a large number of opportunities through nearshoring, and become the preferred destination for industrial investment for distribution around Latam. When investors see a three- or even five-year delay to get access to gas, they instead look for alternatives; we have heard of instances when manufacturing that was returning to this part of the world from Asia went to Canada over Mexico because of better access to cheaper power.

What are Jaguar’s long-term plans in terms of being both a producer and distributor?

We have 11 contracts with the government to produce gas and some oil, under which we will produce and process our own and distribute among the regional market; however, we do not plan to get involved in the domestic market as we do not have the expertise. We have a mix of projects under which we will sell to the regional grid and allow trading or distribution companies to buy and distribute the gas where they need to. We also have projects where we sell to end consumers, though they tend to be clustered together. It might be a power plant or an industrial consumer collocated by our operation where it makes sense to connect them directly. The final thing we are working on is virtual pipelines, where we compress to CNG and subsequently to LNG in order to sell directly to consumers.

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