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CLAIM #18847 · CVX (CVX) · 2022Q3 earnings call · Oct 28, 2022 · due Dec 31, 2022

Jack St. Malo has a multiphase pumping project that starts up this year and some additional development drilling.

Michael Wirth · CEO

PENDING
graded after results covering Dec 31, 2022 are reported

In context

in the Gulf. We've got over 270 leases out there and a strong base business, a lot of installed infrastructure that enables capital-efficient brownfield development. And importantly, it's one of the most carbon-efficient assets in our portfolio with a carbon intensity of about 6 kilograms of CO2 per barrel of oil equivalent. Lease Sale 257 is the one that was in question. Here a few months ago, as a result of the Inflation Reduction Act, that's been clarified and that lease sale is proceeding. We picked up 34 leases in that sale. And we look forward to continued leasing by the federal government as indicated and kind of encouraged by the Inflation Reduction Act, and we'll participate in those. In terms of production growth, we will advance a number of projects that are underway right now. Jack St. Malo has a multiphase pumping project that starts up this year and some additional development drilling. Bigfoot has ongoing development drilling and water injection that will begin in the first quarter of next year. Mad Dog 2 is operated by one of our partners, and I would refer you to them for an update on that project. We've got at St. Malo, our waterflood first injection plan for next year. Anchor a new greenfield project. We expect first oil on that in 2024. Whale, another greenfield project operated by one of our partners. I expect first oil on that towards the end of 2024. And then we recently took FID in the second quarter of this year on the Ballymore project and expect first oil on that one in 2025. So I appreciate the question because oftentimes, I hear people say, well, we can see the Kazakhstan growth. We can see the Permian. What else do you have? We've got a string of project

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SEC filings for CVX · Claim quote is verbatim from the 2022Q3 earnings call.