Cox Oil reaches settlement with Seacor to end years-long dispute

By Sarah Lizee

Olympia, Wash., Feb. 6 – Cox Oil Offshore, LLC has reached a settlement with Seacor to end a dispute that started in 2021, according to an emergency motion filed Thursday with the U.S. Bankruptcy Court for the Southern District of Texas.

On April 13, 2021, a jack-up liftboat owned by and operated by Seacor sank in the Gulf of Mexico and struck a pipeline owned by Cox Oil.

Before filing bankruptcy, Cox Oil pursued about $1.7 million in damages and expenses associated with rerouting and responding to the incident, as well as about $3.2 million in lost production damages against the Seacor parties.

Through the settlement, Seacor will pay $1.15 million to the debtors in exchange for the full release and dismissal of all claims pending in the litigation.

The settlement won’t have any impact on claims asserted by Seacor in the Chapter 11 case.

The Dallas-based drilling company filed bankruptcy on May 14, 2023 under Chapter 11 case number 23-90324.

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