Platform Holly/Piers 421/Venoco Bankruptcy

Nov 15, 2019 | Oil and Gas

The plug and abandonment work on Platform Holly began in October 2019. This follows the successful plug and abandonment of the Piers 421 wells in Goleta.

As background, in April 2017, Venoco quitclaimed its interests in the South Ellwood Field leases, including Platform Holly and the Ellwood Beach pier leases near the City of Goleta. The quitclaim ends commercial oil and gas production in state waters in the Santa Barbara Channel and returns operational control of these assets to the Commission. California’s Coastal Sanctuary Act prohibits the Commission from issuing new offshore oil and gas leases.

The Commission selected Beacon West Energy Group, LLC as its contractor to operate and maintain Platform Holly and the Ellwood Onshore Facility. Beacon West, under the Commission’s oversight, began ensuring the security and safe daily operations and maintenance at Platform Holly and the Ellwood Onshore Facility in September 2017.

ExxonMobil, the successor in interest to prior operator Mobil Oil Corporation, agreed to fulfill its obligation to abandon the 30 wells, seven of which were Venoco re-drilled and are state obligations, and the two near-shore wells on what was Oil & Gas Lease 421.

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