DEA Deutsche Erdoel as agreed to become one of the first companies to drill in Mexico after it converted to foreign investment , creating a large tranche of exploration acreage in the country . DEA bought DE Oil & Gas from a group of private - equity investors . DEA did n’t disclose financial terms , but a person familiar with the negotiations estimated the value of the deal at around $ 500 m . The transaction is expected to become the largest upstream acquisition in Mexico since the liberalisation of its mining sector in 2013 .
DEA Deutsche Erdoel as agreed to buy one of the first companies to drill in Mexico after it opened to foreign investment, gaining a large tranche of exploration acreage in the country. DEA bought Sierra Oil & Gas from a group of private-equity owners. DEA didn’t disclose financial terms, but a person familiar with the negotiations put the value of the deal at around $500m. The transaction is set to become the largest upstream acquisition in Mexico since the liberalisation of its petroleum sector in 2013.