April 22, 2025 [Oil Price]- Chevron and TotalEnergies just flipped the switch on oil production from the Ballymore project in the deepwater Gulf of Mexico, with the project expected to pump around 75,000 barrels of oil per day at its peak.

The field, discovered back in 2018, sits about 160 miles southeast of New Orleans and is now officially flowing oil through a tieback to Chevron’s existing Blind Faith platform, cutting down costs and time in a significant victory for Big Oil in this volatile oil price landscape.

Chevron leads the project with a 60% stake, while TotalEnergies owns the other 40%. Together, they’re tapping into an estimated 150 million barrels of recoverable oil — a serious boost to their Gulf operations.

“This is exactly the kind of project we mean when we talk about capital discipline and energy security,” said Steve Green, Chevron’s North America exploration and production president. “Fast to market, lower carbon intensity, and high value.”

For TotalEnergies, Ballymore adds another notch in its offshore belt, aligning with the company’s focus on efficient, lower-emissions production while still meeting global demand.

Beyond the technical wins, this project also shows how legacy infrastructure can still play a starring role in new developments. With global energy needs still high — and the push for cleaner production methods growing louder — Ballymore strikes a timely balance.

“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,” said Steve Green, president of Chevron North America Exploration and Production.

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