Chevron (CVX) said Monday oil and natural gas production has started from the Ballymore deepwater subsea tieback in the 'Gulf of America.'
Ballymore is expected to produce up to 75,000 gross barrels of oil equivalent per day using three wells tied back to the existing Chevron-operated Blind Faith facility about three miles away.
Ultimately, Chevron is expecting to produce 300,000 net barrels per day from its Gulf projects by 2026, the company said.
Chevron shares were down 1.5% in recent early Monday trading.
Price: 135.68, Change: -2.19, Percent Change: -1.59
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