- Start of production at the Ballymore field adds 30,000 boe/d net production for TotalEnergies (TTE, Financial).
- Utilizes existing infrastructure for lower development costs and reduced emissions.
- Contributes to TotalEnergies' 3% hydrocarbon production growth target for 2025.
TotalEnergies (TTE) has announced the start of production from the deepwater Ballymore field located offshore the United States. This development marks a significant milestone for the company as it expands its U.S. Gulf of Mexico portfolio. TotalEnergies holds a 40% interest in the field, with Chevron (CVX) operating at a 60% stake.
The Ballymore field, situated 120 kilometers off the coast of Louisiana, was launched in May 2022. It boasts a substantial gross production capacity of 75,000 barrels of oil per day and 50 million cubic feet of gas per day. By utilizing Chevron's existing Blind Faith floating production unit, the project has achieved a cost-effective development approach with standardized equipment, which reduces both costs and emissions intensity.
At peak production, Ballymore will contribute approximately 30,000 barrels of oil equivalent per day (boe/d) of net cash-accretive production to TotalEnergies. This contribution will increase the company's deepwater production capacity in the U.S. to more than 75,000 boe/d, aligning with its target for hydrocarbon production growth exceeding 3% by 2025.
TotalEnergies' strategy in the U.S. includes significant investments in oil, LNG, and low-carbon electricity sectors, showcasing the company's commitment to balancing efficient conventional energy production with an expansion in renewables.
