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James "Jim" Flores, the CEO of Sable Offshore, was Houston's highest-paid executive in 2025 with earnings of $76 million despite his company selling no crude oil and reporting a net loss of about $410.2 million that year. Sable Offshore operates pipelines in California but faced legal challenges following an oil spill from the Santa Ynez Unit pipeline, which it acquired in 2024 after significant environmental damage. Despite these issues, U.S. Energy Secretary Chris Wright allowed Sable to resume operations under emergency orders citing national security needs related to the war in Iran.
Written locally by qwen2.5:14b on 2026-10-02,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
James Flores, CEO of Sable Offshore, was the highest-paid executive in Houston last year, earning $76 million despite his company selling no crude oil and reporting a net loss of about $410.2 million. Based in Texas, Sable operates pipelines in California, where it faced significant legal and political challenges following an oil spill in 2015. The company acquired the affected pipeline from Exxon Mobil and Plains All American Pipeline in 2024, but only resumed operations off the California coast on March 14, 2026, after receiving approval from US Energy Secretary Chris Wright. The $76 million compensation for Flores included a base salary of $1.3 million plus a bonus and stock worth approximately $69 million.
Written for “Oil Baron Sells No Crude” on 2026-10-04,
grounded in this article and the 0 other(s) covering the same event.
The highest-paid executive in Houston last year was revealed to be the CEO of an oil company that sold no crude.
asserted
that → pay → crude
James 'Jim' Flores is the chairman and chief executive of Sable Offshore, and earned $76 million in 2025, securities filings obtained by the Houston Chronicle revealed.
However, the company, based in Texas but operating pipelines in California, sold no crude last year and reported a net loss of about $410.2 million.
asserted
company → earn → million
Flores' salary dropped to a base of $1.3 million, but he received a $3.9 million bonus and about $69 million worth of stock, the filings showed.
asserted
filings → drop → stock
Sable Offshore has faced an intense legal and political battle in California after a 2015 rupture caused one of the state's worst oil spills.
asserted
rupture → face → spills
More than 140,000 gallons of oil from the Santa Ynez Unit pipeline, which was owned by Exxon Mobil and Plains All American Pipeline at the time, blackened beaches for 150 miles from Santa Barbara to Los Angeles and polluted habitat for endangered whales and sea turtles.
asserted
which → own → whales
However, Sable, which bought the pipeline in 2024, was allowed to restart operations pumping oil off the California coast on March 14, 2026, after an emergency order from US Energy Secretary Chris Wright under the Defense Production Act, citing the war in Iran.
'We are encouraged by the productivity of the wells,' Flores said in an August statement.
asserted
Flores → buy → statement
Sable Offshore CEO James Flores was the highest-paid executive in Houston last year, records show
Sable Offshore is based in Texas but operates pipelines in California, sold no crude last year and reported a net loss of about $410.2 million
Sable, which bought the pipeline in 2024, was allowed to restart operations resumed oil off the California coast on March 14, 2026, after an emergency order from US Energy Secretary Chris Wright (picture with Flores)
'
asserted
which → pay → Flores
We look forward to working with our midstream and downstream partners to maximize the amount of domestic crude oil from the [Santa Ynez Unit] getting to market for the benefit of California consumers and the US Military and its allies globally.'
asserted
We → look → consumers
Democratic California leaders and environmentalists opposed the move.
asserted
leaders → oppose → move
'This is an attempt to illegally restart a pipeline whose operators are facing criminal charges and prohibited by multiple court orders from restarting,' Governor Gavin Newsom said in a statement at the time.
asserted
Newsom → restart → time
'California will not stand by while the Trump administration attempts to sacrifice our coastal communities, our environment, and our $51 billion coastal economy.
asserted
administration → stand → communities
The Trump administration and Sable are defying multiple court orders, and we will see them back in court.
asserted
we → defy → court
'
Flores took the helm in September 2021, according to his biography on Sable's website.
uncertain
Flores → take → website
He earned his bachelor's degree in finance and petroleum land management from Louisiana State University and worked for several energy companies.
asserted
He → earn → companies
In the 1990s, Flores cofounded oil and gas company Ocean Energy; then he took over Plains Exploration & Production in 2001.
asserted
he → cofounde → 2001
In 2017, he became the CEO of West Texas drilling company Sable Permian Resources, which filed for bankruptcy in 2020.
asserted
which → become → 2020
The Daily Mail contacted Flores and Sable Offshore for comment.
asserted
Mail → contact → comment
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