The Venoco South Ellwood Field Project was discontinued due to the Venoco lease quitclaim and bankruptcy on April 17, 2017. Venoco has quitclaimed Platform Holly and the associated leases (Leases 3120 and 3242) to the California State Lands Commission, effectively ending potential future oil and gas production from this facility and its associated leases and returning operational control of these assets to the California State Lands Commission. California's Coastal Sanctuary Act prohibits the Commission from issuing new offshore oil and gas leases, so production cannot recommence without an act by the California governor and legislator. The California State Land Commission is currently in the process of plugging, abandoning, and decommissioning the platform.
The Venoco South Ellwood Field Project was intended to amend Lease PRC 3242, which is located offshore of the City of Goleta, to encompass a greater portion of the South Ellwood Field and increase total oil production. Venoco was seeking an adjustment of the easterly boundary of PRC 3242 to include approximately 3,400 additional acres in exchange for Venoco’s quitclaim and release of approximately 3,800 acres of the northern and southern portions of PRC 3242 and PRC 3120 into the California Coastal Sanctuary. The Project would have used Platform Holly and other existing facilities, including the Ellwood Onshore Facility (EOF) within the City.