🛢️🌊🇺🇸 Chevron Launches Gulf Project to Boost Output by 50% in 2025 🔹 Summary: Chevron has begun production at its $1.6B Ballymore project in the U.S. Gulf of Mexico, targeting a 50% production increase from the region this year. Using existing infrastructure, the project is expected to produce 75,000 boepd and reflects Chevron’s broader cost-cutting and deepwater expansion strategy. 🔹 Key Points: • Ballymore is a three-well development located 160 miles southeast of New Orleans. • It is Chevron’s first project in the Norphlet formation, holding ~150M barrels of recoverable oil equivalent. • Production is tied back to an existing platform, accelerating output and reducing costs. • Chevron owns 60% of the project; TotalEnergies holds 40%. • The company aims to reach 300,000 boepd from the Gulf by 2026 and cut $3B in overall costs. @CMEActiveTrader Tickers Of Interest: $CL $NG Tickers Of Interest: $CVX $TTE $USD $WTI