REG-TotalEnergies SE USA: TotalEnergies Announces the Sanction of the Ballymore Development in the U.S. Gulf of Mexico

TotalEnergies SEAnnouncement

17/05/2022 13:45

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USA: TotalEnergies Announces the Sanction of the Ballymore Development in the
U.S. Gulf of Mexico

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), through its affiliate
TotalEnergies E&P USA, Inc., announces the sanction of the Ballymore
development, located 120 kilometers off the coast of Louisiana in the U.S.
Gulf of Mexico.

TotalEnergies holds a working interest of 40% in Ballymore. Co-owner Chevron
U.S.A. Inc., a subsidiary of Chevron Corporation, holds a 60% working interest
as operator.

The Ballymore field will be developed through 3 production wells, tied back to
the Chevron-operated Blind Faith Floating Production Unit. First Oil is
expected in 2025 with a capacity of 75,000 barrels of oil per day. By
utilizing existing infrastructure, the project ensures the lowest development
costs and lower emission intensity.

“Sanctioning the Ballymore field development, only four years after the
discovery, is the result of our exploration efforts in the Gulf of Mexico,
said David Mendelson, Senior Vice President Americas of TotalEnergies
Exploration & Production. Thanks to its tie-back development concept, this
decision fits TotalEnergies’ strategy of focusing on oil projects with low
breakeven and low emissions.”

***

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our 100,000 employees are committed to energy that is ever more
affordable, cleaner, more reliable and accessible to as many people as
possible. Active in more than 130 countries, TotalEnergies puts sustainable
development in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.

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Cautionary Note 

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).

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