Welcome to our dedicated page for Sable Offshore news (Ticker: SOC), a resource for investors and traders seeking the latest updates and insights on Sable Offshore stock.
Sable Offshore Corp (SOC) delivers focused energy exploration in California's offshore Santa Ynez Unit through advanced drilling technologies and responsible resource development. This centralized news resource provides investors and industry observers with essential updates about the company's upstream operations, regulatory milestones, and technical achievements.
Access timely updates including earnings reports, operational developments, and strategic initiatives that shape SOC's position in offshore energy markets. Our curated collection features official press releases covering exploration progress, environmental compliance updates, and partnership announcements specific to federal waters operations.
Key information categories include drilling technology advancements, Santa Ynez Unit production updates, and regulatory compliance developments. Stay informed about SOC's specialized approach to offshore resource management through verified updates from primary sources.
Bookmark this page for streamlined access to SOC's evolving operational narrative. Regular updates ensure stakeholders maintain current understanding of this independent operator's activities in California's strategic offshore energy sector.
Sable Offshore Corp. (NYSE:SOC) has submitted its Request for Approval of Restart Plans to California authorities for the Las Flores Pipeline System after satisfying operational conditions under the Federal Consent Decree. The company has also announced an alternative Offshore Storage and Treating Vessel (OS&T) strategy to transport crude oil from the Santa Ynez Unit via shuttle tankers.
If delays with the Onshore Pipeline continue, Sable will revert to the OS&T strategy, previously used from 1981-1994. The company plans to execute an OS&T lease contract by end of 2025, with expected delivery in Q3 2026. Production is anticipated to begin in Q4 2026 with over 50,000 barrels of oil per day output capacity.
Sable Offshore Corp (NYSE:SOC) has issued a response to litigation filed by the Santa Barbara County District Attorney on September 16, 2025. The company strongly refutes what it calls "inflammatory and misleading" allegations regarding its pipeline operations.
The company affirms it is working lawfully with state and federal agencies to restart Lines 324 and 325, with all repairs and excavations being supervised by certified independent biologists, cultural resource professionals, and Office of State Fire Marshal personnel. Sable emphasizes that no wildlife were harmed and all disturbed areas are being remediated according to state and local requirements.
Sable Offshore Corp. (NYSE: SOC) released its Q2 2025 operational and financial results, highlighting key developments in its Santa Ynez Unit (SYU) operations. The company successfully restarted production at SYU and completed critical pipeline repairs and hydrotests. During Q2, Sable flowed 130,000 barrels of oil from Platform Harmony, with an additional 220,000 barrels by August 8, 2025.
Financial highlights include the completion of an upsized public offering of 10 million shares at $29.50 per share, generating $282.6 million in net proceeds. The company reported a net loss of $128.1 million, with quarter-end metrics showing $875.6 million in short-term debt and $247.1 million in cash and cash equivalents. Sable anticipates resuming oil sales in September 2025 following the Onshore Pipeline restart.
Sable Offshore Corp. (NYSE: SOC) has successfully closed its upsized public offering of 10,000,000 shares of common stock at $29.50 per share, including 1,304,346 shares from the fully exercised underwriters' option. The offering generated gross proceeds of approximately $295.0 million. The company plans to utilize the net proceeds for capital expenditures, working capital, and general corporate purposes.
The offering was managed by joint book-runners J.P. Morgan, Jefferies, and TD Cowen, with several co-managers including The Benchmark Company, Johnson Rice & Company, Pickering Energy Partners, Roth Capital Partners, and Tuohy Brothers. The offering was conducted under an effective Form S-3 registration statement filed with the SEC.
Sable Offshore Corp. (NYSE: SOC) has announced the pricing of its upsized public offering of 8,695,654 shares of common stock at $29.50 per share. The offering size was increased from the previously announced $200.0 million, with expected gross proceeds of approximately $256.5 million. The company has also granted underwriters a 30-day option to purchase up to an additional 1,304,346 shares.
The proceeds will be used for capital expenditures, working capital, and general corporate purposes. The offering, led by joint book-running managers J.P. Morgan, Jefferies, and TD Cowen, is expected to close on May 23, 2025.
Sable Offshore Corp. (NYSE: SOC) has announced an underwritten public offering of $200 million of common stock shares. The company plans to grant underwriters a 30-day option to purchase an additional $30 million worth of shares. The net proceeds will be used for capital expenditures, working capital, and general corporate purposes.
J.P. Morgan, Jefferies, and TD Cowen are serving as joint book-running managers for the offering. The registration statement on Form S-3 became effective on May 1, 2025. The final terms of the offering will be disclosed in the final prospectus supplement to be filed with the SEC.
Sable Offshore Corp. (NYSE: SOC) has released its Q1 2025 financial results, reporting a significant net loss of $109.5 million. The loss was primarily attributed to production restart related operating expenses, non-cash interest expense, and non-cash changes in warrant liabilities' fair value. The company ended the quarter with $189.0 million in cash and cash equivalents, plus an additional $35.5 million in restricted cash. Sable's outstanding debt stood at $854.6 million, which includes paid-in-kind interest, additional principal from debt amendment, and debt issuance costs. The company reported 89,338,358 outstanding shares of Common Stock at quarter's end.