Chevy and Total's Gulf Oil Deal: Trump's Energy Agenda in Action
"First Oil Extraction from New Gulf of America Field: White House Celebrates Initial Drilling Operations"
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The initial oil output from a joint US-French corporate business in the Gulf of America was a positive indication that President Trump's goal to "set US energy dominance free" is gaining traction, reported the White House to FOX Business.
US energy colossus Chevron and French firm TotalEnergies declared the commencement of production last week from the deep-sea Ballymore oil field off the coasts of Louisiana and Mississippi, marking a 60-40 partnership favoring Chevron.
"President Trump's agenda is reinstating America's energy dominance, resulting in a new oil partnership in the Gulf of America to 'Drill, Baby, Drill,'" said Taylor Rogers, a White House spokesperson.
"Increased oil production will continue as energy leaders trust the president's commitment to set US energy free, roll back oppressive regulations, curtail our dependence on foreign country's filthy oil, and provide economic aid to American citizens," Rogers told FOX Business when asked about the announcement.
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President Trump and oil rig (Getty Images / Getty Images)
Chevron serves as the official operator of the oil lease, according to the company. In a statement to FOX Business, Chevron claimed that the start of production is just the beginning for the company's objective to produce 300,000 net-barrels of oil per day from the Gulf of America by 2026.
"Ballymore is expected to produce up to 75,000 gross barrels of oil per day through three wells tied back three miles to the existing Chevron-operated Blind Faith facility," Chevron explained.
The operation is a tieback - or one that is connected to a nearby operation - to Chevron's Blind Faith platform about three miles distant.
Brent Gros, vice president of Chevron Gulf of America, labeled Ballymore an excellent example of how the company is utilizing its technology to boost efficiency and produce "affordable, reliable energy from the deep-sea Gulf of America, one of the world's lowest carbon-intensity oil and gas-producing basins."
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The White House envisions the Ballymore field's production start as a sign of the tidal wave of common sense energy development that strengthens the energy future while also generating jobs.
"Ballymore, which was completed on schedule and under budget, brings additional production online without building a new standalone offshore platform," Gros said, adding that the streamlined process saves money and returns more value to shareholders.
The Ballymore field has an estimated potentially recoverable lode of 150 million barrels and is geologically located in the Mississippi Canyon at a depth of 6,600 feet.
Nicolas Terraz, TotalEnergies president of exploration and production, said in a separate statement that the US is a "major market" for the company's integrated energy model focusing on low-emissions oil and liquefied natural gas (LNG) developments.
Although headquartered in Paris, TotalEnergies has been active in the US since 1957, according to a company statement. It has invested approximately $11 billion in US energy development since 2022.
It also bills itself the leading exporter of American LNG.
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"We need more energy - lots more, not constrained supply or politically driven restrictions," added Energy Secretary Chris Wright in comments to FOX Business.
"The start of production from the Ballymore field is an illustration of the sensible energy development that strengthens our energy future while also providing good-paying American jobs," he said.
"The Trump administration is working to expand the production of affordable, reliable, and abundant American energy," Wright concluded.
- The commencement of production from the Ballymore oil field, a 60-40 partnership between Chevron and TotalEnergies, is a reflection of President Trump's energy agenda, aiming to increase domestic oil production and diminish dependence on foreign oil.
- The White House envisions the Ballymore field's production start as a sign of a tidal wave of common sense energy development, strengthening the energy future and generating jobs.
- Brent Gros, vice president of Chevron Gulf of America, welcomed the Ballymore operation as an excellent example of efficient deep-sea oil production, contributing to the company's objective of producing 300,000 net-barrels of oil per day from the Gulf of America by 2026.
- Nicolas Terraz, TotalEnergies president of exploration and production, recounts the company's long history in the US, with its headquarters in Paris and approximately $11 billion invested in US energy development since 2022.
- Energy Secretary Chris Wright, commenting on the Ballymore field's production start, emphasized the Trump administration's commitment to expanding the production of affordable, reliable, and abundant American energy.
