Arrange scallops on a long piece of paper towel on your counter or chopping board. Lightly press down on scallops to soak up excess water.
Coat large cast iron pan with olive oil.
Fry or microwave the bacon.
Arrange the scallops in the skillet. Sprinkle S & P and drizzle EVOO over the top of scallops. Slow cook them in the oven at 350°F for 10 minutes.
In a small bowl, mix Hot Pepper Bacon Jam and water. Set aside.
Remove cast iron skillet from oven and carefully drain the majority of liquid.
Place drained skillet with scallops on stovetop set at medium high heat.
Add 1 tbsp. of butter to scallops and drizzle more EVOO. Allow scallops to brown and caramelize for about 4 minutes without turning scallops over.
Turn down to lowest heat then add Terrapin Ridge Farms Hot Pepper Bacon Jam and water mixture over the scallops.
Add half of the fried bacon to scallops, slow simmer for a few minutes.
Turn off heat and immediately plate the scallops. Spoon extra Hot Pepper Bacon Jam sauce on top of scallops.
Add remaining fried bacon for garnish and top with chopped green onion or chives.
Serve immediately and enjoy!
