05/20/2025
Scott Strazik, CEO of GE Vernova, emphasized the historic scale of the c...
Comprehensive Energy Data Intelligence
Information About Energy Companies, Their Assets, Market Deals, Industry Documents and More...
Recent Articles
Archive
Chevron Aims for 300K Barrels/Day in Gulf – Ballymore Adds First 75K
05/05/2025
Chevron Corporation, one of the world’s leading integrated energy companies, has announced the start of oil and natural gas production from the Ballymore subsea tieback project, located in the deepwater Gulf of America. This development marks a significant step in Chevron’s strategic offshore growth and reinforces its broader production goals in one of its most prolific regions.
The Ballymore development is designed to produce up to 75,000 gross barrels of oil per day from three production wells, all connected via a subsea tieback to Chevron’s existing Blind Faith facility, located approximately three miles from the well site. By leveraging existing infrastructure, Chevron has significantly reduced both development costs and environmental footprint, underscoring its commitment to efficiency, capital discipline, and sustainability.
“Ballymore is an example of how we are leveraging technology and driving efficiencies to help produce affordable, reliable energy from the deepwater Gulf of America, one of the lowest carbon intensity oil and gas producing basins in the world,” said Brent Gros, Vice President of Chevron Gulf of America.
He continued, “Ballymore, which was completed on time and on budget, brings additional production online without building a new standalone offshore platform. This reduces our development costs and is expected to drive higher returns for shareholders.”
Strategic Importance of Ballymore
Chevron has long held a dominant position in the Gulf of America. Ballymore reinforces the company’s strategy to achieve 300,000 net barrels of oil equivalent per day (boepd) from the region by 2026. The field represents Chevron’s first development in the Norphlet geological trend, highlighting its expanding technical reach and exploration success in the region.
Located in the Mississippi Canyon area, Ballymore sits in approximately 6,600 feet (2,000 meters) of water and is about 160 miles (260 km) southeast of New Orleans. According to Chevron, the field is expected to recover an estimated 150 million barrels of oil equivalent (gross) over its lifetime — a sizable volume that contributes significantly to the company’s deepwater reserves and long-term output forecasts.
Partnership and Ownership
The project is operated by Chevron U.S.A. Inc., holding a 60% working interest, with TotalEnergies E&P USA, Inc. owning the remaining 40%. This partnership structure leverages the technical and operational expertise of both companies in one of the world’s most competitive offshore basins.
Capital Efficiency and Project Execution
Ballymore’s development represents a new wave of offshore efficiency. Instead of building a new offshore platform — a process that typically takes years and requires significant capital — Chevron opted for a subsea tieback strategy, connecting the new wells to the existing Blind Faith production facility.
This approach reduces both capital expenditures and carbon intensity by avoiding new surface infrastructure, a move aligned with Chevron’s strategy to improve capital returns while supporting emissions reduction goals.
Part of a Larger Offshore Growth Strategy
The Ballymore project is not an isolated initiative but part of Chevron’s broader strategy to expand its offshore portfolio in the Gulf of America— a basin known for high-margin, long-life assets with relatively low carbon intensity. Since mid-2024, the company has brought online several major assets:
- Anchor Project – Chevron’s industry-first high-pressure project, also in the deepwater Gulf
-
Whale Project – A non-operated deepwater development brought online successfully
- Tahiti and Jack/St. Malo – Water injection operations commenced to enhance oil recovery at Chevron-operated facilities
These projects contribute to Chevron’s ambitious 2026 production target and reflect a deliberate focus on capital-efficient development and resource maximization.
Gulf of America: A Key Region for Chevron
Chevron continues to view the Gulf of America as a cornerstone of its upstream strategy, offering several advantages:
- Stable regulatory environment
- High recovery factors
- Established infrastructure
- Favorable economics with strong returns
-
Low carbon intensity compared to other basins
The company is one of the largest leaseholders in the Gulf and continues to evaluate new exploration, development, and tieback opportunities.
About Chevron
Chevron is a globally recognized leader in energy production and innovation. The company produces crude oil and natural gas, manufactures transportation fuels, lubricants, and petrochemicals, and invests in low-carbon and emerging technologies such as:
- Carbon capture, utilization, and storage (CCUS)
- Hydrogen production
- Renewable fuels and power for data centers
-
Offset strategies
Chevron's long-term vision includes lowering the carbon intensity of its operations while maintaining reliable energy supply — a balance it strives to achieve through initiatives like Ballymore.
Article Tags
Related Articles
