Chevron Corporation (NYSE:CVX) shares are trading lower today. The company disclosed that it has started water injection operations at its Jack/St. Malo and Tahiti facilities in the deepwater U.S. Gulf of Mexico.
The St. Malo field and Jack/St. Malo facility, 280 miles south of New Orleans in 7,000 feet of water, has produced nearly 400 million barrels of oil equivalent since 2014.
At the Jack/St. Malo facility, Chevron successfully initiated its first water injection in the deepwater Wilcox trend at the St. Malo field. This project, completed under budget, includes new water injection facilities, two production wells, and two injection wells.
The project is anticipated to increase the ...
