Using the economic and financial performance data of international companies for the exploration, and exploration-extraction (E&E) of oil, as well as the patterns of institutional situation and orientation with the government market and national oil companies or NOCs that receive project offers, we analyze the institutional development and behavior patterns by type of E&E contract, following the strategic actor approach, or the so-called agency theory. Additionally, in light of Mexico's energy reform being implemented between 2015 and 2019, we analyzed the types of license contracts compared to those for production and shared profit. Subsequently, it was determined-through panel data methods in the analysis of 17 companies between 2005 and 2015-that global companies present bigger yields and commitments compared to specialized companies, confirmed by their net income and returns on equity or ROE.
Disponible en www.sciencedirect.com www.cya.unam.mx/index.php/cya Contratos de riesgo de petróleo, patrones de conducta y desempeño de empresas: Análisis de panel de datos Oil risk contracts, business conduct and performance patterns: Data panel analysis
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