In an unprecedented act of cooperation in the energy sector, the US and Mexican governments signed an agreement establishing a framework for US energy companies to work jointly with the state run oil company PEMEX to develop oil and gas resources in the deep waters of the Gulf of Mexico. The agreement eases a dispute between Mexico and the US about ownership of reserves along a common boundary in the Gulf of Mexico, potentially opening more than 1 million acres to deepwater drilling. Mexico was extremely concerned that drilling by US companies could siphon off reserves on the Mexican side in what some described as the "efecto popote," or drinkingstraw effect.
SourceMex - Latin American Data Base
Navarro, Carlos. "Mexico, U.S. Reach Landmark Agreement on Deepwater Oil Exploration." (2012). http://digitalrepository.unm.edu/la_energy_notien/115