Chevron & TotalEnergies Fire Up Ballymore: Deepwater Gulf Project Targeting 150 Million Barrels Over Life
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 21 2025
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Source: Benzinga
Chevron's Ballymore Project Launch: Chevron Corporation has commenced oil and gas production from its Ballymore subsea tieback in the Gulf of Mexico, with a daily gross production capacity of up to 75,000 barrels of oil and 50 million cubic feet of gas. The project is expected to yield approximately 150 million barrels of oil equivalent over its lifetime.
Strategic Expansion Plans: This development aligns with Chevron's goal to reach 300,000 net barrels per day of oil equivalent from the Gulf by 2026, while TotalEnergies also anticipates increased production capacity contributing to their growth targets.
Analyst Views on DRLL
Wall Street analysts forecast DRLL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DRLL is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 30.756
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Current: 30.756
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
