Overview
- Chevron has commenced oil and gas production at the Ballymore project, located 160 miles southeast of New Orleans in the Gulf of Mexico.
- The project uses a subsea tieback to connect three wells to the existing Blind Faith platform, reducing costs and environmental impact.
- Ballymore is Chevron's first project in the Norphlet formation and holds an estimated 150 million barrels of recoverable oil equivalent.
- The $1.6 billion joint venture, with Chevron holding a 60% stake and TotalEnergies 40%, aligns with Chevron's goal of reaching 300,000 barrels per day in the Gulf by 2026.
- The Gulf of Mexico remains a critical energy hub, accounting for one-sixth of U.S. oil production, with Chevron planning further lease acquisitions this year.