Texas headquartered petroleum titan Chevron, recently announced it has initiated natural gas and oil production from its deep water project in the Gulf of America called “Ballymore”.
The new endeavour from the US multinational and owner of the Texaco lubricant brand is the latest step in a number of projects to get started within the past 12 months. It represents a move towards Chevron’s current goal to generate 300,000 barrels of oil a day from the Gulf next year. Ballymore’s expected output is approximately 75,000 gross barrels a day via three tied back wells that are three miles from the Blind Faith facility operated by Chevron.
Vice president for Chevron’s operation in the Gulf of America, Brent Gros, said that the Ballymore was a demonstration of the company driving efficiencies and using technology to support production of affordable and dependable energy coming from the Gulf. He commented:
“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.”
Now one of the lead leaseholders in the deep water Gulf of America, Chevron continues its active pursuit of fresh opportunities for expansion in the area. Last year, the company began its production from the industry-first project called “Anchor” and its non-operated project “Whale” and started leveraging water injection technology that boosted output levels at its Jack/St. Malo and Tahiti facilities.
Analysts estimate that Ballymore’s potential recoverable resources are around 150 million oil barrels for the full life cycle of the project.
