The piston coring survey will involve the collection of 40–60 seabed core samples across the Walton and Morant Basins, accompanied by bathymetric, multibeam echo-sounding, and heat-flow surveys.
The data will be analyzed for geochemical and thermal signatures to confirm the presence of thermogenic hydrocarbons, assess source rock maturity, and refine basin modeling, materially enhancing the definition of key prospects, including Colibri and Oriole.
“Exxon spinoff Sable Offshore faces seven barriers to restart its pipeline, idled since a major oil spill in 2015. One of those approvals needs to come from the California Coastal Commission, which Sable CEO Jim Flores criticized for its “Teflon” “eco-Nazi attitude” in a leaked call recording newly obtained by Hunterbrook. Because of these barriers — and despite Trump Administration intervention — Sable’s project, originally scheduled to go online in Jan 2024, may never sell oil. At least not under the ownership of Sable ($SOC), which is quickly running out of cash.“
Exxon’s options per Hunterbrook:
The Exxon purchase agreement gives Exxon a free reassignment option: If Sable fails to “restart production” by Mar. 31, Exxon can demand reassignment of the assets within 180 days, “without reimbursement of any Purchaser costs or expenditures.”
In other words: Exxon can just take back the asset. For free.
And if Sable’s regulatory pathway is really just delayed, not denied — as Sable claims — that may be a more appealing proposition for Exxon than it once was.
Or, perhaps, Exxon will decide to retire the project, recognizing the Sisyphean path to production. (Exxon already took a $2.5 billion write-down as part of exiting offshore operations in California.)
“The Santa Barbara Channel has been dubbed the Galápagos of North America” ~ Maggie Hall, Environmental Defense Center attorney. (comments: 1. clever branding ala calling ANWR “America’s Serengeti!;” 2. no natural oil seeps in the Galapagos Islands; 3. 130 years of oil production history in the Channel)
Sable opponents organize entertaining rallies featuring famous celebrities:
Ted Danson Jane FondaJulia-Louis Dreyfus
Meanwhile, Sable has some starpower of its own with strong public support from golfer Phil Mickelson.
Senior Federal officials and key agencies are outspoken Sable supporters:
“Only in California! Newsom is blocking oil production off California’s coast from reaching their own refineries, driving gasoline prices even higher for Californians! Now, this oil production will have to be shipped elsewhere, lowering gas prices for other areas— just not for California! This is the opposite of common sense!” ~ Energy Secretary Chris Wright
BSEE declared victory 6 months ago: “This is a significant achievement for the Interior Department and aligns with the Administration’s Energy Dominance initiative, as it successfully resumed production in just five months.”
Perhaps most entertaining are the exchanges on X between Sable bulls and short-sellers. A few examples are embedded below:
Listen Lassy, you could take your signing bonus and have $10 million in cash right now. But that’s short term thinking. Once Big Daddy Trump gets the regulations fixed Sable stock will be worth 50, 60, maybe even 100x that. We’ll be sipping Coffee for Wellness on our yachts in… pic.twitter.com/H2le8c0otE
Good luck but this stock & company are train wrecks. I live close to pipeline so state, local opposition to a restart remains steadfast. Here’s latest news, do your homework.https://t.co/ZfKSKwwrcW
John Smith, decommissioning specialist and BOE contributor, has shared his comments (attached) on the Marine Fisheries Habitat Protection Act. This legislation would expand the successful reefing programs on the OCS by facilitating the conversion of retired production platforms into artificial reefs.
Per JL Daeschler, Sedco’s Far East, North Sea, and South America operations were all run from Dallas in the late 60’s. In 1970, an old schoolhouse became Sedco’s corporate headquarters (see picture and narrative pasted above). Thank you Bill Clements for saving this historic building – what a beautiful headquarters for the challenging and booming offshore industry!
JL: After 2 years with SEDCO in Miri, East Malaysia (1971) I moved to Brownsville Tx. But in 1979 I returned to the old school house in Dallas in secondment to Sedco Hamilton Production Services from Hamilton Brothers Oil & Gas. The main objective of the joint venture was promotion of floating production systems and in particular use of semi sub technology. One project assignment was the BP “Buchan” field in the North Sea. (Note: this work was a precursor to the deepwater floating production units that are now the method of choice for deepwater development in the Gulf.)
JL is pictured (right below) on the Sedco 135 during operations offshore East Malaysia.
Wisdom from JL: Rules were pretty simple, as you can read on the rig wall in the picture. No App, pin, or password…. In fact no internet and mobile phone, just a radio operator.
Safety was grounded in the attitude and respect of 100 + people living and working together (47 working / 47 sleeping and 6 managing and protecting others. More difficult was the integration of the visiting contractors, logging/cementing / diving / VIPs. (Still true today!) No division amongst ages, nationality ( sometimes 6 of them) religions, Job position , and ethnicity. Just get along and do what you get paid for! Safety issues were dealt with immediately with short, unscheduled “toolbox” meetings – less reporting and more fixing.
(As an aside, Dan Bourgeois and I were on assignment to Petronas in 1977 and visited their East Malaysian operations. Does anyone in Petronas remember us? 😉)
Unsurprisingly, President Trump was not particularly pleased with Darren Woods’ “uninvestable” quote, the main media takeaway from Friday’s meeting on redevelopment of Venezuela’s oil and gas resources.
Exxon CEO Darren Woods: “If we look at the legal and commercial constructs and frameworks in place today in Venezuela — today, it’s uninvestable.”
The response from President Trump: “I didn’t like Exxon’s response,” Trump said to reporters on Air Force One as he departed West Palm Beach, Florida. “They’re playing too cute.” He told reporters he was inclined to deny Exxon any role in rebuilding Venezuela’s oil industry.
If Exxon is now in the President’s doghouse, what does this mean for the Santa Ynez Unit, an Exxon orphan that was adopted by Sable Offshore? Given Sable’s financial challenges, the SYU may soon be returning to Exxon.
Regardless of ownership, an SYU production restart faces strong opposition in California and is fully dependent on an assertive and supportive Federal government. Meanwhile, an injunction on SYU production remains in place, and despite rumors to the contrary, Sable confirms they are complying with that order.
Bill Clements founded the Southeast Drilling Company (SEDCO) in 1947 with two partners and a loan. Clements grew the business from three used drilling rigs into a global leader and a deepwater pioneer. Through SEDCO, Clements developed strong international relationships that included the Shah of Iran, Reza Pahlavi. Clements went on on to serve as Deputy Secretary of Defense. He served as Governor of Texas from 1979-91.
BOE contributor and pioneering subsea engineer, JL Daeschler, fondly recalls working for Clements:
“He looked after the employees well, knew everyone by name on all his rigs, and was very encouraging. He was a great leader for the emerging deepwater industry. I often discussed a project with him on early Saturday morning office calls. Despite worldwide rig locations and time differences, he was able to read and digest all the morning reports. He conducted crisp executive meetings every Friday – very few speakers and to the point. He was no time waster. I learned a lot!
The number of BSEE inspections in 2025 (first chart) remained relatively constant despite the extended government shutdown.
The decline in the number of Incidents of Noncompliance (INCs) in 2025 is encouraging (chart 2).
Given that BSEE’s tables have yet to be updated to include 2024 incidents, let alone 2025, it’s difficult to assess whether there have been similar declines in the number and severity of incidents. We do know that there were no occupational fatalities in 2025. (Note that OCS incident tables were once updated within 30 days at the end of each quarter. The public has a right to timely information on the type of incidents that are occurring, the operating companies, and the resulting casualties, pollution, and property damage.)
Chart 3 shows the decline in INCs by type – warnings, component shut-ins, and facility shut-ins
As is typically the case, a few companies accounted for a disproportionate number of violations, most notably the Cox legacy operators. More on this in a subsequent post.
The top 6 oil producers all had excellent compliance records, as did a leading shelf operator. More to follow.
Sable Offshore, California’s most notorious operator, fared well during 77 inspections of their three platforms in the Santa Barbara Channel.
An Airbus H160 helicopter carrying eight people made an emergency landing at sea off the coast of Cabo Frio, Brazil, on Friday (1/2), prompting a rapid search and rescue operation by the Brazilian Navy. All occupants were rescued safely, underscoring the importance of offshore aviation safety and emergency response readiness.
The incident involved an OMNI Táxi Aéreo helicopter operating in support of offshore production platforms. The aircraft landed approximately 74 kilometers south of Cabo Frio, Brazil. Six passengers and two crew members were on board at the time of the emergency landing.
Following the landing, a Search and Rescue (SAR) operation was immediately activated. A Navy helicopter was dispatched to the location, where the occupants had evacuated into two life rafts. All eight individuals were recovered and transported to the clinic at the Naval Air Base of São Pedro da Aldeia. Authorities confirmed that everyone was in good condition.
Fortunately, the weather was good and the sea conditions were calm.
A colleague of mine, Bill Gazdik, died in a helicopter crash while en route to the Western Pacesetter 1 drilling rig offshore New Jersey in 1978. Another colleague, Jack Willock, was seriously injured in that incident. Jack attributed his survival to the helicopter “dunker” training he had recently completed.
Although the number of events has decreased significantly over the years, helicopter incidents are still a leading safety concern. Four died on 12/29/2022 when a helicopter crashed at the West Delta 106 A platform the Gulf.
rescue offshore Brazil from the Rig Pigs Facebook page
Bud's Offshore Energy (BOE) 