Chevron Corp. has sanctioned the Ballymore project in the deepwater U.S. Gulf of Mexico. The project, with a design capacity of 75,000 barrels of crude oil per day, will be developed as a three-mile subsea tieback to the existing Chevron-operated Blind Faith platform.
Steve Green, president of Chevron North America Exploration and Production, said: "Chevron's U.S. Gulf of Mexico production is some of the lowest carbon intensity production in our portfolio at around 6 kg CO2 equivalent per barrel of oil equivalent and is a fraction of the global industry average. Once complete, Ballymore is expected to add a reliable supply of U.S.-produced energy to help meet global demand. The project is designed to lower development costs by using a subsea tieback approach, standardized equipment and repeatable engineering solutions - leveraging existing operated infrastructure."
Ballymore will be Chevron's first development in the Norphlet trend of the U.S. gulf. The project will be in the Mississippi Canyon area in around 6,600 feet (2,000 m) of water, about 160 miles (260 km) southeast of New Orleans. Potentially recoverable oil-equivalent resources for Ballymore are estimated at more than 150 million barrels.
The project, which involves three production wells tied back via one flowline to the nearby Blind Faith facility, will require an investment of approximately $1.6 billion. Oil and natural gas production will be transported via existing infrastructure. First oil is expected in 2025.
Chevron subsidiary Chevron U.S.A. Inc. is the operator of the Ballymore project with a 60 percent working interest. Co-owner TotalEnergies E&P USA, Inc. has a 40 percent interest.
Category | 2023 | 2024Est. Initial | Updated 2024 Guidance | %Difference (2023 vs 2024) |
Total Capital Expenditure($mm) |
Production Daily Equivalent(boe/d) |
Related Categories :
Field Development
More Field Development News
-
Silverbow Resources Touts New "Dorado Play" in Webb County, TX
-
Shell to Move Forward with Jackdaw Gas Field Project in UK North Sea
-
PDC Energy's 69-Well Kenosha Project Approved by COGCC
-
Exxon, Hess to Proceed with Yellowtail Development Offshore Guyana
-
Leucrotta Preps to Drill First Wells at Montney Mica Project
Gulf of Mexico News >>>
-
APA Corporation First Quarter 2023 Results -
-
Evolution Petroleum Corporation Fiscal Third Quarter 2023 Results
-
W&T Offshore, Inc., First Quarter 2023 Results
-
Talos Energy Inc. First Quarter 2023 Results -
-
Kosmos Energy Ltd. First Quarter 2023 Results