Chevron Corporation CVX and TotalEnergies SE TTE have successfully commenced oil and gas production from the Ballymore project in the Gulf of America (formerly the U.S. Gulf of Mexico) within its stipulated time and anticipated budget. Ballymore is expected to deliver up to 75,000 gross barrels of oil per day and 50 million cubic feet of gas daily. The project is tied back to Chevron’s existing Blind Faith floating production unit, enabling cost-effective operations without the need for a new offshore platform. Ballymore is expected to deliver up to 75,000 gross barrels of oil per day and 50 million cubic feet of gas daily.
Chevron has set a strategic goal of producing 300,000 net barrels per day of oil equivalent from the Gulf in 2026 and the Ballymore project represents another step toward achieving. Since 2024, it has begun production from a lot of projects, taking its goal a step forward and Ballymore is the latest in that series.
In 2024, Chevron started production from its industry-first Anchor project in the Gulf of America. The Anchor project, which is notable for its technological advancement, allows it to access reservoirs located nearly 35,000 feet below the ocean’s surface. This project is also in collaboration with TotalEnergies, which holds a 37% stake in the project.
In January 2025, the company, in collaboration with Shell, also started production from its non-operated Whale project. The first phase of development for the Whale project is expected to involve up to 15 wells with an estimated peak production of 100,000 gross barrels of oil equivalent per day. In this project, Shell holds a 60% operating interest and Chevron holds the remaining 40% working interest.
Chevron, currently carrying a Zacks Rank #3 (Hold), also began water injection at its Tahiti and Jack/St. Malo facilities to boost output. The company expects that with the water injection facilities, about 175 million barrels of oil equivalent will be added to the St. Malo field’s gross ultimate recovery.
The Ballymore project holds an estimated 150 million barrels of oil equivalent in potentially recoverable resources over its lifespan. Located in the Mississippi Canyon area, the field sits approximately 160 miles southeast of New Orleans in water depths of about 6,600 feet. This marks Chevron’s first development within the Gulf’s Norphlet trend. The project utilizes standardized equipment and existing infrastructure, aligning with both companies’ focus on cost efficiency and emissions reduction.
Story Continues