Businesses of all types and sizes throughout the United States, Mexico and beyond bring their disputes to Gardere's litigation team and receive practical, responsive, boutique-style attention in return. Our clients have access to the firepower and value of a well-known and highly-regarded Firm's capabilities and interdisciplinary strengths.
Gardere has a national and international energy practice formed around our Energy Industry Team, which is a multidisciplinary group of approximately 80 attorneys with diverse backgrounds, experience and skills specific to the energy industry. Our team includes attorneys who have served as in-house counsel for major energy companies, providing a depth of insight into our clients' needs, issues and concerns. We understand and regularly practice in virtually every sector of the energy, and we represent a wide variety of industry participants from multinational corporations to individuals.
From our offices in the United States and Mexico, our International Practice helps clients operate in today’s global economy. We have more than 30 professionals operating as a boutique within an Am Law 200 law firm and are able to provide focused service with the resources of a large firm. We understand that clients who are engaged in the global marketplace need lawyers who can operate seamlessly across multiple jurisdictions. Our international experts are multi-lingual, are culturally fluent and intimately familiar with various legal systems across the world, especially those in Latin America. Whether you need help with commercial transactions, regulatory matters, customs and import regulations, immigration matters, M&A and joint ventures, international disputes, or international tax planning, Gardere’s international team is here to assist you.
We represent domestic and foreign private funds in all aspects of fund formation, fund operations, platform and add-on acquisitions, and portfolio company operations. Our team has a reputation for being the go-to-lawyers for private equity funds, hedge funds, venture capital funds and family offices. We are known for our vast deal experience, the efficient way we staff and manage our work, and the way we maintain our relationships. We get deals done with sophisticated, strategic, and practical advice tailored to the needs of our clients.
*Not admitted to practice law.
The Energy Reform resulting from the December 2013 amendment to the Mexican Constitution and that allows the participation of the private sector in the oil and gas market, once again changed the paradigm of the energy industry in Mexico. This is probably the most important reform to the industry since the 1938 expropriation by President Lázaro Cardenas.
The Mexican tax system was not designed to tax private companies engaged in the exploration and extraction of hydrocarbons. Since the principle that hydrocarbons obtained from Mexican soil are owned by the Mexican State remains, there was the need to create a regime requiring companies to make payments from revenue coming from the exploration and extraction of hydrocarbons. In addition, the onerous tax regime applicable to Pemex was in urgent need to be replaced with one that affords Pemex, now a State Productive Company, with the more flexible taxation applicable to the private sector.
THE HYDROCARBONS REVENUE LAW
To upgrade the Mexican tax regime and to address the issues previously described, on Aug. 11, 2014, the Hydrocarbons Revenue Law was published. Among other things, this new Law sets forth the rules under which the private sector and the State Productive Companies make payments to the Mexican federal government (conducted through the newly-formed Mexican Petroleum Fund) derived from revenues associated with contracts or assignments. These assignments shall only be granted to Pemex or other State Productive Companies. In general terms, holders of the new contracts allowed by the Energy Reform (exploration and production, license, profitsharing, production-sharing and service contracts), shall be required to pay the following types of payments to the government (payments may be different depending on the contract): (i) a signing bonus; (ii) a contractual quota for the exploratory phase; (iii) royalties; and (iv) a payment consisting of a percentage of the contract value of hydrocarbons produced. Assignment holders are also required to make other type of payments to the government.
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