The latest announcement is out from TotalEnergies SE ( (FR:TTE) ).
TotalEnergies has commenced production at the Ballymore offshore field in the U.S., where it holds a 40% stake alongside Chevron. This project, located 120 kilometers off the Louisiana coast, is expected to significantly enhance TotalEnergies’ production capacity in U.S. deepwater, contributing to its goal of over 3% hydrocarbon production growth by 2025. The Ballymore project, which utilizes existing infrastructure to reduce costs and emissions, underscores TotalEnergies’ commitment to its integrated energy model, combining low breakeven and low emissions oil and gas projects with LNG and integrated power developments in the U.S. market.
More about TotalEnergies SE
TotalEnergies is a global integrated energy company engaged in producing and marketing a wide range of energies, including oil, biofuels, natural gas, biogas, low-carbon hydrogen, renewables, and electricity. With a workforce exceeding 100,000 employees, the company operates in approximately 120 countries, focusing on providing reliable, affordable, and sustainable energy solutions. TotalEnergies has been active in the United States since 1957, investing significantly in oil, LNG, and low-carbon electricity, making it a leading exporter of U.S. LNG and a key player in the renewable energy sector.
YTD Price Performance: -1.11%
Average Trading Volume: 2,001,340
Technical Sentiment Signal: Hold
Current Market Cap: €108.4B
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