On the remote, jungle-hemmed beach of Tortuguero, south of Veracruz, a handful of Mexican and U.S. oil drillers slapped each other's backs and shouted with hoarse joy. A few weeks ago, boring at an angle to a depth of 6,000 feet under the warm waters of the Gulf of Mexico, their rig had tapped a pool of rich green-black petroleum. Last week Tortuguero No. 1 surged into test production at a steady 500 barrels a day.
Tortuguero was the first producing well to be explored and drilled in Mexico with U.S. capital since ex-President Lázaro Cárdenas expropriated foreign oil companies'...
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