CNBC joins chevron CEO in US gulf of mexico to discuss deepwater achievements

Innovation in the U.S. energy industry has helped the country produce more than 13 million barrels of oil-equivalent per day. This is key to U.S. energy security.

To explore that further, CNBC flew out to the U.S. Gulf of Mexico to talk with Mike Wirth, Chevron Chairman and CEO. A segment on Squawk on the Street and a full episode of Mad Money were broadcast live from the Anchor Platform on October 24. Here are some key takeaways:

• The resource potential at Chevron’s Anchor Platform is estimated to be up to 440 million barrels of oil-equivalent.
• Oil production at Anchor—which began in August—is expected to last for 30 years or more and be among the lowest in carbon intensity in the world.
• Chevron’s overall growth, supported by Anchor’s first oil, will produce free cash flow with an expected compound annual growth rate of more than 10% over the next three years.
• Deepwater technology and equipment can help unlock subsea resources in the Gulf. Anchor can handle pressures as high as 20,000 pounds per square inch and reach reservoir depths as far as 34,000 feet beneath the water’s surface.
• Anchor is the result of more than 20 years of planning and development. Leasing, access and long-term development commitments are important to future energy security.