A focused area of low pressure was able to spin up in the Bay of Campeche over night. Satellite images at first light revealed a fairly impressive looking feature with thunderstorms wrapping all the way around a center of circulation. The Hurricane Center gave it a 50% chance of developing before it ran into Mexico.
It never did organize any better than that, and is breaking up over Mexico tonight. It should be able to hold just enough structure together for it to redevelop after moving into the Pacific .