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Chevron partners with BP and ConocoPhillips to develop the Lower Tertiary in deepwater GoM

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Report summary

Chevron announced first production at its Jack/St. Malo Lower Tertiary project in December 2014. We believe that a similar co development could be replicated at the Tiber Gila and Guadalupe fields. Our base case assuming individual facilities generates an indicative asset valuation of US$954M for Tiber US$818M for Gila and US$876M for Guadalupe. A shared central facility would increase project NPV by US$580M. We do not anticipate first production from the fields until early next decade.

What's included

This report contains

  • Document

    Chevron partners with BP and ConocoPhillips to develop the Lower Tertiary in deepwater GoM

    PDF 312.05 KB

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 3 images and tables including:

Images

  • Chevron DW GoM production portfolio (2015-2024)
  • BP development capex profile (2015-2024)

Tables

  • Oil & gas pricing and assumptions: Table 1

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