View Future GrowthSable Offshore 과거 순이익 실적과거 기준 점검 0/6Sable Offshore 의 수입은 연평균 -63.2%의 비율로 감소해 온 반면, Oil and Gas 산업은 연평균 8.9%의 비율로 증가했습니다. 매출은 연평균 171.1%의 비율로 증가해 왔습니다.핵심 정보-63.15%순이익 성장률-43.83%주당순이익(EPS) 성장률Oil and Gas 산업 성장률33.67%매출 성장률171.06%자기자본이익률-117.96%순이익률-39,153.74%최근 순이익 업데이트31 Mar 2026최근 과거 실적 업데이트업데이트 없음모든 업데이트 보기Recent updates속보 • May 14Sable Offshore Q1 Losses Persist as Production Expands and Refinancing Efforts ContinueSable Offshore reported a Q1 EPS loss of ($1.37), falling short of consensus expectations. The company is working to refinance its Senior Secured Term Loan, with management targeting completion by Q2 2026. Production has restarted on parts of the Santa Ynez Pipeline System, with 40 wells currently producing about 750 gross barrels per day per well, and plans to ramp up to 74 wells and bring Platform Hondo online by June 2026. Sable Offshore was ranked 10th in Grok AI’s top stock picks for 2026, while still facing material risks including California lawsuits, pipeline approval delays, oil price volatility and a sizable debt load. The key tension here is between Sable’s expanding production footprint, supported by ongoing capital spending, and the weight of its current losses, refinancing needs, and legal and regulatory overhangs. Anyone following the stock will want to track progress on the term loan refinancing and pipeline approvals closely, since delays or adverse legal outcomes could affect both the timing and economics of the planned production ramp.New Risk • May 07New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$761m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$761m free cash flow). Shareholders have been substantially diluted in the past year (65% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Significant insider selling over the past 3 months (US$14m sold). Revenue is less than US$5m (US$1.3m revenue).공시 • May 05Sable Offshore Corp., Annual General Meeting, Jun 10, 2026Sable Offshore Corp., Annual General Meeting, Jun 10, 2026.Recent Insider Transactions • Apr 07Executive VP recently sold US$4.7m worth of stockOn the 31st of March, Anthony Duenner sold around 279k shares on-market at roughly US$16.69 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$9.3m more than they bought in the last 12 months.Breakeven Date Change • Mar 31Forecast breakeven date moved forward to 2026The 3 analysts covering Sable Offshore previously expected the company to break even in 2027. New consensus forecast suggests the company will make a profit of US$160.2m in 2026. Earnings growth of 92% is required to achieve expected profit on schedule.Major Estimate Revision • Mar 31Consensus EPS estimates upgraded to US$0.58 lossThe consensus outlook for fiscal year 2026 has been updated. 2026 losses forecast to reduce from -US$2.23 to -US$0.583 per share. Revenue forecast unchanged from US$438.5m at last update. Oil and Gas industry in the US expected to see average net income growth of 26% next year. Consensus price target up from US$26.00 to US$31.50. Share price rose 13% to US$17.84 over the past week.Price Target Changed • Mar 25Price target increased by 12% to US$28.50Up from US$25.50, the current price target is an average from 4 analysts. New target price is 61% above last closing price of US$17.69. Stock is down 32% over the past year. The company is forecast to post a net loss per share of US$2.23 next year compared to a net loss per share of US$4.18 last year.Major Estimate Revision • Mar 17Consensus revenue estimates increase by 12%, EPS downgradedThe consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from US$313.8m to US$350.3m. EPS estimate fell from -US$1.09 to -US$2.23 per share. Oil and Gas industry in the US expected to see average net income growth of 15% next year. Consensus price target broadly unchanged at US$26.00. Share price rose 20% to US$17.23 over the past week.Seeking Alpha • Mar 14Sable Offshore: The Tides Have Shifted In Favor Of Production Start (Rating Upgrade)Summary Sable Offshore is upgraded to Strong Buy with a $31/share price target, driven by federal support and rising oil prices. Federal urgency to offset Middle East supply disruptions increases the likelihood of SOC's Santa Ynez Unit restarting by the end of 2026. High oil prices and strategic government actions create favorable operating leverage and market conditions for SOC's offshore production. Restart strategies include local refining via the Santa Ynez Pipeline or direct export using an OS&T vessel, with financials favoring the latter. Read the full article on Seeking AlphaBreakeven Date Change • Mar 01Forecast breakeven date moved forward to 2026The 3 analysts covering Sable Offshore previously expected the company to break even in 2027. New consensus forecast suggests the company will make a profit of US$6.80m in 2026. Average annual earnings growth of 92% is required to achieve expected profit on schedule.공시 • Feb 03Sable Offshore Corp. has filed a Follow-on Equity Offering in the amount of $250 million.Sable Offshore Corp. has filed a Follow-on Equity Offering in the amount of $250 million. Security Name: Common Stock Security Type: Common Stock Transaction Features: At the Market OfferingPrice Target Changed • Jan 21Price target increased by 15% to US$24.40Up from US$21.20, the current price target is an average from 5 analysts. New target price is 111% above last closing price of US$11.58. Stock is down 59% over the past year. The company is forecast to post a net loss per share of US$4.16 next year compared to a net loss per share of US$9.21 last year.공시 • Nov 27Sable Offshore Corp. Announces Executive Changes, Effective November 20, 2025On November 20, 2025, Sable Offshore Corp. announced a series of management changes. The changes include the promotion of J. Caldwell Flores, the current President of the Company, to President and Chief Operating Officer of the Company. Mr. Flores is an executive officer of the Company, as such term is defined in Rule 3b-7 promulgated under the Securities Exchange Act of 1934, as amended, and additional biographical information about Mr. Flores can be found in the Company’s definitive proxy statement for the 2025 annual meeting of shareholders, filed with the Securities and Exchange Commission on April 17, 2025. In connection with these management changes, Doss Bourgeois transitioned from Executive Vice President and Chief Operating Officer of the Company to Vice Chairman of the Company, effective November 20, 2025. The Company also made the below appointments and changes, effective November 20, 2025. None of the individuals listed below is an executive officer of the Company, as such term is defined in Rule 3b-7 promulgated under the Exchange Act. Trent Fontenot: Senior Vice President of Operations; Brian Broussard: Senior Vice President of Development; Byron Olson: Vice President, Reservoir Engineering.공시 • Nov 10Sable Offshore Corp. announced that it expects to receive $250.000003 million in fundingSable Offshore Corp. announced that it has entered into subscription agreements to issue 45,454,546 common shares at an issue price of $5.50 per share for gross proceeds of $250,000,003 before deducting placement agent fees and other offering expenses on November 10, 2025. The transaction includes participation from institutional investors. The private placement is expected to close on November 12, 2025, subject to the satisfaction of customary closing conditions. The shares of common stock being issued and sold in the private placement have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws and may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. Sable has agreed to file a registration statement to register the resale of the shares of common stock being sold in the private placement.Breakeven Date Change • Nov 04Forecast breakeven date pushed back to 2027The 3 analysts covering Sable Offshore previously expected the company to break even in 2026. New consensus forecast suggests losses will reduce by 99% per year to 2026. The company is expected to make a profit of US$403.7m in 2027. Average annual earnings growth of 93% is required to achieve expected profit on schedule.공시 • Oct 15Sable Offshore Corp. Announces Statement on California Coastal Commission LitigationSable Offshore Corp. provided an update regarding its ongoing litigation with the California Coastal Commission (“Coastal Commission”). In the Santa Barbara Superior Court’s tentative ruling released on October 14, 2025, the court indicated that it will deny Sable’s claims against the Coastal Commission. Sable vigorously disagrees with the court’s tentative ruling. If adopted after the court’s hearing scheduled on October 15, the ruling would have no impact on the resumption of petroleum transportation through the Las Flores Pipeline System. Additionally, oil and gas production from the federal Santa Ynez Unit and the flow of petroleum from the Santa Ynez Unit to the Las Flores Canyon processing facilities or to a potential Offshore Storage & Treating Vessel (“OS&T”) would be unaffected by rulings in the Coastal Commission litigation. Sable nevertheless intends to appeal this ruling to the California Court of Appeal if the ruling is adopted by the Santa Barbara Superior Court. Sable is suing the Coastal Commission for the damages it has caused Sable by erroneously issuing cease and desist orders during Sable’s anomaly repair program on the Las Flores Pipeline System. The anomaly repair program and hydrotesting of the Las Flores Pipeline System was completed in May 2025 in accordance with the Federal Consent Decree. Sable intends to continue its pursuit of the writ of mandate in the Court of Appeal as well as declaratory relief and inverse condemnation claims in excess of approximately $347 million. Sable continues to work diligently with the State of California to safely and responsibly resume petroleum transportation through the Las Flores Pipeline System in accordance with the Federal Consent Decree. Continued delays in approving the Restart Plans for the Las Flores Pipeline System could prompt Sable to pursue the accelerated OS&T strategy, which was utilized to process Santa Ynez Unit production in federal waters from 1981 – 1994. During that time period, the Santa Ynez Unit produced over 160 million barrels of oil equivalent. Regardless of whether California approves the resumption of petroleum transportation through the Las Flores Pipeline System, Sable plans to pursue the OS&T strategy which Sable believes will allow it to refinance its existing term loan.New Risk • Aug 13New minor risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow. Free cash flow: -US$473m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$473m). Share price has been volatile over the past 3 months (13% average weekly change).공시 • Aug 08Levi & Korsinsky, LLP Notifies Investors in Sable Offshore Corp. of A Class Action Securities LawsuitLevi & Korsinsky, LLP notifies investors in Sable Offshore Corp. of a class action securities lawsuit. The lawsuit seeks to recover losses on behalf of Sable Offshore Corp. investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of persons or entities who purchased or otherwise acquired publicly traded Sable Offshore securities between May 19, 2025 and June 3, 2025, inclusive, and/or pursuant and/or traceable to the Company's May 21, 2025 secondary public offering. The filed complaint alleges that defendants made false statements and/or concealed that: (1) defendants represented that Sable Offshore Corp. had restarted oil production off the coast of California when it had not; and (2) as a result, defendants statements about Sables business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.공시 • Jul 11Sable Offshore Corp. Files Notice of Appeal of the Superior Court's May 28, 2025 Order Granting Application for Preliminary InjunctionOn July 9, 2025, in the matter of Sable Offshore Corp., et al. v. California Coastal Commission, et al., the Santa Barbara County Superior Court denied a motion to stay the California Coastal Commission’s April 10, 2025 Cease and Desist Order regarding Sable Offshore Corp.’s maintenance and repair work in the coastal zone. Also on July 9, 2025, Sable filed a Notice of Appeal of the Superior Court’s May 28, 2025 Order Granting Application for Preliminary Injunction. Sable intends to prosecute this appeal in the California Court of Appeal in an effort to lift the Order. Sable continues to produce from the Santa Ynez Unit and flow to the crude oil storage tanks at Las Flores Canyon in anticipation of receiving approval to restart the Las Flores Pipeline System, with first oil sales expected August 1, 2025.공시 • Jun 30+ 3 more updatesSable Offshore Corp.(NYSE:SOC) dropped from Russell Microcap IndexSable Offshore Corp.(NYSE:SOC) dropped from Russell Microcap Index공시 • May 22+ 1 more updateSable Offshore Corp. has completed a Follow-on Equity Offering in the amount of $256.521793 million.Sable Offshore Corp. has completed a Follow-on Equity Offering in the amount of $256.521793 million. Security Name: Common Stock Security Type: Common Stock Securities Offered: 8,695,654 Price\Range: $29.5 Discount Per Security: $1.18공시 • May 20Sable Offshore Corp. Updates Production Guidance for the Second Half of 2025Sable Offshore Corp. updated production guidance for the second half of 2025. For the period, the company expects Net Average Daily Production of 40,000 BOE/D to 50,000 BOE/D against 20,000 BOE/D to 25,000 BOE/D.Price Target Changed • May 19Price target increased by 9.9% to US$31.33Up from US$28.50, the current price target is an average from 6 analysts. New target price is 5.1% below last closing price of US$33.02. Stock is up 143% over the past year. The company is forecast to post a net loss per share of US$0.16 next year compared to a net loss per share of US$9.21 last year.Price Target Changed • May 16Price target increased by 13% to US$32.20Up from US$28.50, the current price target is an average from 5 analysts. New target price is 12% above last closing price of US$28.86. Stock is up 110% over the past year. The company is forecast to post a net loss per share of US$1.68 next year compared to a net loss per share of US$9.21 last year.New Risk • May 12New minor risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow. Free cash flow: -US$310m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (49% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$310m). Share price has been volatile over the past 3 months (14% average weekly change).New Risk • May 05New major risk - Revenue and earnings growthEarnings have declined by 104% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 104% per year over the past 5 years. Shareholders have been substantially diluted in the past year (48% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Share price has been volatile over the past 3 months (14% average weekly change).공시 • Apr 19Sable Offshore Corp., Annual General Meeting, Jun 11, 2025Sable Offshore Corp., Annual General Meeting, Jun 11, 2025.Breakeven Date Change • Mar 27Forecast breakeven date pushed back to 2026The 2 analysts covering Sable Offshore previously expected the company to break even in 2025. New consensus forecast suggests losses will reduce by 91% to 2025. The company is expected to make a profit of US$145.7m in 2026. Average annual earnings growth of 117% is required to achieve expected profit on schedule.공시 • Mar 19Sable Offshore Corp. Auditor Raises 'Going Concern' DoubtSable Offshore Corp. filed its 10-K on Mar 17, 2025 for the period ending Dec 31, 2024. In this report its auditor, Ham, Langston & Brezina, LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.공시 • Mar 18Sable Offshore Corp. Provides Production Guidance for the Second Half of 2025Sable Offshore Corp. provided production guidance for the second half of 2025. For the period, the company expects Net Average Daily Production of 20,000 BOE/D ? 25,000 BOE/D.Price Target Changed • Feb 18Price target increased by 12% to US$28.80Up from US$25.80, the current price target is an average from 5 analysts. New target price is 8.0% below last closing price of US$31.31. Stock is up 161% over the past year. The company is forecast to post a net loss per share of US$6.14 next year compared to a net loss per share of US$1.78 last year.New Risk • Feb 13New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (over 5x increase in shares outstanding). Revenue is less than US$1m. Minor Risk Share price has been volatile over the past 3 months (13% average weekly change).Seeking Alpha • Jan 23Sable Offshore: Too Much Uncertainty For ComfortSummary Sable Offshore Corp. shares spiked 7.9% on January 22nd, with no specific news identified; the stock is up 127.6% since February 2024. The company has significant upside potential but faces regulatory challenges and uncertainty, leading me to rate it a “hold” for cautious investors. Sable Offshore's main asset is the Santa Ynez field, acquired from ExxonMobil, with 646 million boe in reserves but dormant since a 2015 oil spill. Despite potential production plans, the company's future economics are unclear, making SOC stock a speculative investment compared to its peers. Read the full article on Seeking Alpha공시 • Jan 02Sable Offshore Corp. Provides Update on Litigation StatusSable Offshore Corp. provided an update on the previously disclosed Center for Biological Diversity et al. v. Debra Haaland et al. lawsuit (the “Haaland lawsuit”). On December 20, 2024, the U.S. Department of Justice (in its capacity as counsel for the U.S. Bureau of Safety and Environmental Enforcement, or “BSEE”) filed a motion to remand without vacatur the Haaland lawsuit to BSEE for BSEE to reconsider its 2023 decision approving an extension to resume operations on the leases for the Santa Ynez Unit. Assuming the motion is granted, Sable intends to cooperate with the government to facilitate an expeditious review and that the government’s prior extensions to resume operations were both appropriate and authorized. Moreover, under the government’s proposed remand, Sable’s operations on the Santa Ynez Unit remain unaffected. In the event that any non-governmental third party attempts to unlawfully interfere with Sable from restarting the Santa Ynez Unit, which contains net estimated contingent resources currently valued at over $10 billion, Sable is prepared to vigorously pursue all available legal remedies.Seeking Alpha • Dec 23Sable Offshore Is In The Final HourSummary Sable Offshore is progressing toward restarting operations. Despite political challenges and lower oil prices, Sable has attracted institutional ownership, providing price support for SOC shares. Sable is targeting to begin producing in 2025, aiming to produce 25-29Mboe/d in 2025, potentially generating $575mm in net revenue. Once operational, Sable is targeting peak production by 2030 at 50Mboe/d+. Read the full article on Seeking AlphaRecent Insider Transactions Derivative • Oct 25Executive VP exercised options to buy US$1.0m worth of stock.On the 23rd of October, Anthony Duenner exercised options to buy 50k shares at a strike price of around US$11.50, costing a total of US$575k. This transaction amounted to 6.7% of their direct individual holding at the time of the trade. Anthony now holds 750.00k shares directly in their own name. Company insiders have collectively sold US$381k more than they bought, via options and on-market transactions in the last 12 months.New Risk • Oct 24New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$332m Forecast net loss in 1 year: US$82m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Shareholders have been substantially diluted in the past year (423% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Currently unprofitable and not forecast to become profitable next year (US$82m net loss next year).Board Change • Oct 15Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Independent Director Michael Dillard was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Price Target Changed • Sep 24Price target increased by 15% to US$31.33Up from US$27.33, the current price target is an average from 3 analysts. New target price is 27% above last closing price of US$24.73. Stock is up 137% over the past year. The company is forecast to post a net loss per share of US$6.06 next year compared to a net loss per share of US$1.78 last year.공시 • Sep 20Sable Offshore Corp. announced that it expects to receive $150 million in fundingSable Offshore Corp. announced it has entered into subscription agreements to issue 7,500,000 shares of its common stock in a private placement to institutional investors for gross proceeds of approximately $150 million. The private placement is expected to close on September 23, 2024New Risk • Sep 03New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (315% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Significant insider selling over the past 3 months (US$1.2m sold).Recent Insider Transactions • Jun 10Independent Director recently sold US$1.2m worth of stockOn the 5th of June, Gregory Pipkin sold around 82k shares on-market at roughly US$14.66 per share. This transaction amounted to 49% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$2.7m. Insiders have been net sellers, collectively disposing of US$956k more than they bought in the last 12 months.공시 • May 26U.S. Department of the Interior Bureau of Ocean Energy Management and U.S. Department of the Interior Bureau of Safety and Environmental Enforcement Approves Assignments of Record Title Interest from Exxon Mobil Corporation to Sable Offshore CorpOn May 21, 2024, the U.S. Department of the Interior Bureau of Ocean Energy Management (“BOEM”) approved Assignments of Record Title Interest from Exxon Mobil Corporation to Sable Offshore Corp. in 16 Federal Oil and Gas Leases comprising the Santa Ynez Unit. On May 22, 2024, the U.S. Department of the Interior Bureau of Safety and Environmental Enforcement (“BSEE”) approved Sable Offshore Corp. as Operator of the Santa Ynez Unit. The unit covers approximately 76,000 acres situated offshore California in the Pacific Region of the United States Outer Continental Shelf.Recent Insider Transactions • May 23Executive VP & COO recently sold US$2.7m worth of stockOn the 21st of May, Doss Bourgeois sold around 200k shares on-market at roughly US$13.49 per share. This transaction amounted to 24% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Doss' only on-market trade for the last 12 months.Seeking Alpha • May 07Sable Offshore May Face Challenges Going Into First ProductionSummary Sable Offshore is an integrated oil company with assets in the California market, including the Santa Ynez Field and Las Flores Canyon Processing Facility. The company faces significant operational and political risks as it seeks final approval to restart production after being idled since 2014 due to a pipeline leak. If successful, the firm can offer significant upside potential; however, given the political climate in California, I believe that management is underestimating the timeline to first oil. Read the full article on Seeking AlphaRecent Insider Transactions • Feb 19Chairman & CEO recently bought US$200k worth of stockOn the 13th of February, James Flores bought around 18k shares on-market at roughly US$11.43 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was James' only on-market trade for the last 12 months.New Risk • Feb 18New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 67% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Negative equity (-US$26m). Shareholders have been substantially diluted in the past year (67% increase in shares outstanding). Revenue is less than US$1m.공시 • Feb 16+ 1 more updateFlame Acquisition Corp. (NYSE:SOC) completed the acquisition of Sable Offshore Corp.Flame Acquisition Corp. (NYSE:SOC) entered into a business combination to acquire Sable Offshore Corp. for $29.9 million on November 2, 2022. As per the terms of the transaction, all of the limited liability company membership interests in Sable will be converted into the right to receive 3,000,000 shares of Flame Class A common stock. In a related transaction, Sable Offshore Corp. entered into a Purchase and Sale Agreement to acquire certain assets constituting the Santa Ynez field in Federal waters offshore California and associated onshore processing and pipeline assets from Exxon Mobil Corporation and Mobil Pacific Pipeline Company on November 1, 2022. After giving effect to the business combination, the company will be named Sable Offshore Corp. The Flame Board will continue to be composed of four members. Upon completion of the Business Combination, James C. Flores will continue to serve as the Chief Executive Officer of New Sable and the New Sable Board will be composed of four members. Sable Offshore Corp. reported total assets of $2129.044 million, net assets of $1780.878 million, loss from operation of $109.988 million and net loss of $109.710 million for the year ended December 31, 2021.The transaction is subject to certain closing conditions, including the expiration of applicable waiting periods under the HSR Act, the proxy statement shall have received SEC clearance, the receipt of required approvals of Flame’s stockholders, Flame having at least $5,000,001 of net tangible assets, the Flame Class A common stock to be issued in connection with the transactions shall have been approved for listing on NYSE, execution and delivery of the ancillary agreements including Letter of Transmittal, Registration Rights Agreement, the Subscription Agreements, and any other agreement, The Flame Board has unanimously approved the merger agreement and the Flame Board unanimously recommends that stockholders vote for the merger. In addition, the board of directors of Sable approved the merger agreement. The Flame Board formed a special committee comprised of Michael Dillard, Gregory Pipkin and Christopher Sarofim, the independent directors serving on the Flame Board to analyze, negotiate and make recommendations to the Flame Board and Flame stockholders regarding the business combination. As on February 27, 2023, the special meeting of Flame stockholders approved the proposal to amend Flame’s amended and restated certificate of incorporation to extend the date by which Flame has to consummate a business combination from March 1, 2023 to September 1, 2023. As of December 20, 2023, the transaction is expected to close on February 1, 2024. As of February 12, 2024, Flame Acquisition Corp. shareholders approved the merger and the closing of the business combination is expected to occur on or about February 14, 2024.Petrie Partners Securities, LLC is serving as financial advisor and fairness opinion provider to the board of directors of Flame. Cowen and Company, LLC, Intrepid Partners, LLC and Jefferies LLC are serving as joint financial advisors to Sable. Cowen, Intrepid and Jefferies are serving as joint placement agents in connection with the Sable PIPE Investment. Ryan Maierson, Stephen Szalkowski, Matthew Jones, Bryant Lee, Jason Cruise, Peter Todaro, Adam Kestenbaum, Janice Schneider, Joshua Bledsoe and Jim Cole of Latham & Watkins LLP is serving as legal counsel to Flame. Latham & Watkins LLP also provided due diligence services to Flame. Jason Jean, G. Alan Rafte, Molly E. Butkus, Heather L. Brown, Jason B. Hutt, Jonathan K. Hance, Steven J. Lorch, Matthew B. Grunert, Elizabeth L. McGinley, Robert S. Nichols, Daniel W. Areshenko, Jacqueline R. Java and Troy Harder of Bracewell LLP are serving as legal counsel to Sable. Bracewell also provided due diligence services to Sable. Kirkland & Ellis LLP is serving as legal counsel to Cowen, Intrepid and Jefferies. American Stock Transfer & Trust Company, LLC acted as transfer agent to Flame. Flame have engaged D.F. King & Co., Inc. to assist in the solicitation of proxies for a fee of $18,000. Pursuant to its engagement letter, Petrie Partners received a work fee of $100,000. Petrie Partners also earned an opinion fee of $1,000,000 upon the rendering of its fairness opinion to the Flame Board.Flame Acquisition Corp. (NYSE:SOC) completed the acquisition of Sable Offshore Corp. on February 14, 2024. In connection with the Closing, the Company changed its name from Flame Acquisition Corp. to Sable Offshore Corp. The Common Stock and warrants will commence trading on the New York Stock Exchange (“NYSE”) under the symbols “SOC” and “SOC.WS,” respectively, on February 15, 2024, subject to ongoing review of the Company’s satisfaction of all listing criteria following the Business Combination.공시 • Feb 08Flame Acquisition Corp. announced that it expects to receive $0.535 million in funding from Flame Acquisition Sponsor LLCFlame Acquisition Corp. announced a private placement of $535,000 in debt round of funding on February 6, 2023. The company issued unsecured promissory note in the transaction. The transaction included participation from returning investor Flame Acquisition Sponsor LLC.Board Change • Dec 31High number of new and inexperienced directorsThere are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Chairman, CEO & President James Flores is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model.Recent Insider Transactions • Dec 11Chairman recently bought US$76k worth of stockOn the 6th of December, James Flores bought around 8k shares on-market at roughly US$10.10 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was James' only on-market trade for the last 12 months.매출 및 비용 세부 내역Sable Offshore가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이NYSE:SOC 매출, 비용 및 순이익 (USD Millions)날짜매출순이익일반관리비연구개발비31 Mar 261-498202031 Dec 250-410176030 Sep 250-364153030 Jun 250-509150031 Mar 250-54731031 Dec 240-617144030 Sep 240-626128030 Jun 240-39497031 Mar 240-251145031 Dec 230-9413030 Sep 230-8013030 Jun 230-5712031 Mar 230-329031 Dec 220-36030 Sep 22083030 Jun 220192031 Mar 220112031 Dec 210420양질의 수익: SOC 은(는) 현재 수익성이 없습니다.이익 마진 증가: SOC는 현재 수익성이 없습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: SOC은 수익성이 없으며 지난 5년 동안 손실이 연평균 63.2% 증가했습니다.성장 가속화: 현재 수익성이 없어 지난 1년간 SOC의 수익 성장률을 5년 평균과 비교할 수 없습니다.수익 대 산업: SOC은 수익성이 없어 지난 해 수익 성장률을 Oil and Gas 업계(-1.7%)와 비교하기 어렵습니다.자기자본이익률높은 ROE: SOC는 현재 수익성이 없으므로 자본 수익률이 음수(-117.96%)입니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YEnergy 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/21 01:41종가2026/05/21 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Sable Offshore Corp.는 4명의 분석가가 다루고 있습니다. 이 중 3명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Subhasish ChandraBenchmark CompanyFrancis Lloyd ByrneJefferies LLCCharles MeadeJohnson Rice & Company, L.L.C.1명의 분석가 더 보기
속보 • May 14Sable Offshore Q1 Losses Persist as Production Expands and Refinancing Efforts ContinueSable Offshore reported a Q1 EPS loss of ($1.37), falling short of consensus expectations. The company is working to refinance its Senior Secured Term Loan, with management targeting completion by Q2 2026. Production has restarted on parts of the Santa Ynez Pipeline System, with 40 wells currently producing about 750 gross barrels per day per well, and plans to ramp up to 74 wells and bring Platform Hondo online by June 2026. Sable Offshore was ranked 10th in Grok AI’s top stock picks for 2026, while still facing material risks including California lawsuits, pipeline approval delays, oil price volatility and a sizable debt load. The key tension here is between Sable’s expanding production footprint, supported by ongoing capital spending, and the weight of its current losses, refinancing needs, and legal and regulatory overhangs. Anyone following the stock will want to track progress on the term loan refinancing and pipeline approvals closely, since delays or adverse legal outcomes could affect both the timing and economics of the planned production ramp.
New Risk • May 07New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$761m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$761m free cash flow). Shareholders have been substantially diluted in the past year (65% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Significant insider selling over the past 3 months (US$14m sold). Revenue is less than US$5m (US$1.3m revenue).
공시 • May 05Sable Offshore Corp., Annual General Meeting, Jun 10, 2026Sable Offshore Corp., Annual General Meeting, Jun 10, 2026.
Recent Insider Transactions • Apr 07Executive VP recently sold US$4.7m worth of stockOn the 31st of March, Anthony Duenner sold around 279k shares on-market at roughly US$16.69 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$9.3m more than they bought in the last 12 months.
Breakeven Date Change • Mar 31Forecast breakeven date moved forward to 2026The 3 analysts covering Sable Offshore previously expected the company to break even in 2027. New consensus forecast suggests the company will make a profit of US$160.2m in 2026. Earnings growth of 92% is required to achieve expected profit on schedule.
Major Estimate Revision • Mar 31Consensus EPS estimates upgraded to US$0.58 lossThe consensus outlook for fiscal year 2026 has been updated. 2026 losses forecast to reduce from -US$2.23 to -US$0.583 per share. Revenue forecast unchanged from US$438.5m at last update. Oil and Gas industry in the US expected to see average net income growth of 26% next year. Consensus price target up from US$26.00 to US$31.50. Share price rose 13% to US$17.84 over the past week.
Price Target Changed • Mar 25Price target increased by 12% to US$28.50Up from US$25.50, the current price target is an average from 4 analysts. New target price is 61% above last closing price of US$17.69. Stock is down 32% over the past year. The company is forecast to post a net loss per share of US$2.23 next year compared to a net loss per share of US$4.18 last year.
Major Estimate Revision • Mar 17Consensus revenue estimates increase by 12%, EPS downgradedThe consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from US$313.8m to US$350.3m. EPS estimate fell from -US$1.09 to -US$2.23 per share. Oil and Gas industry in the US expected to see average net income growth of 15% next year. Consensus price target broadly unchanged at US$26.00. Share price rose 20% to US$17.23 over the past week.
Seeking Alpha • Mar 14Sable Offshore: The Tides Have Shifted In Favor Of Production Start (Rating Upgrade)Summary Sable Offshore is upgraded to Strong Buy with a $31/share price target, driven by federal support and rising oil prices. Federal urgency to offset Middle East supply disruptions increases the likelihood of SOC's Santa Ynez Unit restarting by the end of 2026. High oil prices and strategic government actions create favorable operating leverage and market conditions for SOC's offshore production. Restart strategies include local refining via the Santa Ynez Pipeline or direct export using an OS&T vessel, with financials favoring the latter. Read the full article on Seeking Alpha
Breakeven Date Change • Mar 01Forecast breakeven date moved forward to 2026The 3 analysts covering Sable Offshore previously expected the company to break even in 2027. New consensus forecast suggests the company will make a profit of US$6.80m in 2026. Average annual earnings growth of 92% is required to achieve expected profit on schedule.
공시 • Feb 03Sable Offshore Corp. has filed a Follow-on Equity Offering in the amount of $250 million.Sable Offshore Corp. has filed a Follow-on Equity Offering in the amount of $250 million. Security Name: Common Stock Security Type: Common Stock Transaction Features: At the Market Offering
Price Target Changed • Jan 21Price target increased by 15% to US$24.40Up from US$21.20, the current price target is an average from 5 analysts. New target price is 111% above last closing price of US$11.58. Stock is down 59% over the past year. The company is forecast to post a net loss per share of US$4.16 next year compared to a net loss per share of US$9.21 last year.
공시 • Nov 27Sable Offshore Corp. Announces Executive Changes, Effective November 20, 2025On November 20, 2025, Sable Offshore Corp. announced a series of management changes. The changes include the promotion of J. Caldwell Flores, the current President of the Company, to President and Chief Operating Officer of the Company. Mr. Flores is an executive officer of the Company, as such term is defined in Rule 3b-7 promulgated under the Securities Exchange Act of 1934, as amended, and additional biographical information about Mr. Flores can be found in the Company’s definitive proxy statement for the 2025 annual meeting of shareholders, filed with the Securities and Exchange Commission on April 17, 2025. In connection with these management changes, Doss Bourgeois transitioned from Executive Vice President and Chief Operating Officer of the Company to Vice Chairman of the Company, effective November 20, 2025. The Company also made the below appointments and changes, effective November 20, 2025. None of the individuals listed below is an executive officer of the Company, as such term is defined in Rule 3b-7 promulgated under the Exchange Act. Trent Fontenot: Senior Vice President of Operations; Brian Broussard: Senior Vice President of Development; Byron Olson: Vice President, Reservoir Engineering.
공시 • Nov 10Sable Offshore Corp. announced that it expects to receive $250.000003 million in fundingSable Offshore Corp. announced that it has entered into subscription agreements to issue 45,454,546 common shares at an issue price of $5.50 per share for gross proceeds of $250,000,003 before deducting placement agent fees and other offering expenses on November 10, 2025. The transaction includes participation from institutional investors. The private placement is expected to close on November 12, 2025, subject to the satisfaction of customary closing conditions. The shares of common stock being issued and sold in the private placement have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws and may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. Sable has agreed to file a registration statement to register the resale of the shares of common stock being sold in the private placement.
Breakeven Date Change • Nov 04Forecast breakeven date pushed back to 2027The 3 analysts covering Sable Offshore previously expected the company to break even in 2026. New consensus forecast suggests losses will reduce by 99% per year to 2026. The company is expected to make a profit of US$403.7m in 2027. Average annual earnings growth of 93% is required to achieve expected profit on schedule.
공시 • Oct 15Sable Offshore Corp. Announces Statement on California Coastal Commission LitigationSable Offshore Corp. provided an update regarding its ongoing litigation with the California Coastal Commission (“Coastal Commission”). In the Santa Barbara Superior Court’s tentative ruling released on October 14, 2025, the court indicated that it will deny Sable’s claims against the Coastal Commission. Sable vigorously disagrees with the court’s tentative ruling. If adopted after the court’s hearing scheduled on October 15, the ruling would have no impact on the resumption of petroleum transportation through the Las Flores Pipeline System. Additionally, oil and gas production from the federal Santa Ynez Unit and the flow of petroleum from the Santa Ynez Unit to the Las Flores Canyon processing facilities or to a potential Offshore Storage & Treating Vessel (“OS&T”) would be unaffected by rulings in the Coastal Commission litigation. Sable nevertheless intends to appeal this ruling to the California Court of Appeal if the ruling is adopted by the Santa Barbara Superior Court. Sable is suing the Coastal Commission for the damages it has caused Sable by erroneously issuing cease and desist orders during Sable’s anomaly repair program on the Las Flores Pipeline System. The anomaly repair program and hydrotesting of the Las Flores Pipeline System was completed in May 2025 in accordance with the Federal Consent Decree. Sable intends to continue its pursuit of the writ of mandate in the Court of Appeal as well as declaratory relief and inverse condemnation claims in excess of approximately $347 million. Sable continues to work diligently with the State of California to safely and responsibly resume petroleum transportation through the Las Flores Pipeline System in accordance with the Federal Consent Decree. Continued delays in approving the Restart Plans for the Las Flores Pipeline System could prompt Sable to pursue the accelerated OS&T strategy, which was utilized to process Santa Ynez Unit production in federal waters from 1981 – 1994. During that time period, the Santa Ynez Unit produced over 160 million barrels of oil equivalent. Regardless of whether California approves the resumption of petroleum transportation through the Las Flores Pipeline System, Sable plans to pursue the OS&T strategy which Sable believes will allow it to refinance its existing term loan.
New Risk • Aug 13New minor risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow. Free cash flow: -US$473m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$473m). Share price has been volatile over the past 3 months (13% average weekly change).
공시 • Aug 08Levi & Korsinsky, LLP Notifies Investors in Sable Offshore Corp. of A Class Action Securities LawsuitLevi & Korsinsky, LLP notifies investors in Sable Offshore Corp. of a class action securities lawsuit. The lawsuit seeks to recover losses on behalf of Sable Offshore Corp. investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of persons or entities who purchased or otherwise acquired publicly traded Sable Offshore securities between May 19, 2025 and June 3, 2025, inclusive, and/or pursuant and/or traceable to the Company's May 21, 2025 secondary public offering. The filed complaint alleges that defendants made false statements and/or concealed that: (1) defendants represented that Sable Offshore Corp. had restarted oil production off the coast of California when it had not; and (2) as a result, defendants statements about Sables business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
공시 • Jul 11Sable Offshore Corp. Files Notice of Appeal of the Superior Court's May 28, 2025 Order Granting Application for Preliminary InjunctionOn July 9, 2025, in the matter of Sable Offshore Corp., et al. v. California Coastal Commission, et al., the Santa Barbara County Superior Court denied a motion to stay the California Coastal Commission’s April 10, 2025 Cease and Desist Order regarding Sable Offshore Corp.’s maintenance and repair work in the coastal zone. Also on July 9, 2025, Sable filed a Notice of Appeal of the Superior Court’s May 28, 2025 Order Granting Application for Preliminary Injunction. Sable intends to prosecute this appeal in the California Court of Appeal in an effort to lift the Order. Sable continues to produce from the Santa Ynez Unit and flow to the crude oil storage tanks at Las Flores Canyon in anticipation of receiving approval to restart the Las Flores Pipeline System, with first oil sales expected August 1, 2025.
공시 • Jun 30+ 3 more updatesSable Offshore Corp.(NYSE:SOC) dropped from Russell Microcap IndexSable Offshore Corp.(NYSE:SOC) dropped from Russell Microcap Index
공시 • May 22+ 1 more updateSable Offshore Corp. has completed a Follow-on Equity Offering in the amount of $256.521793 million.Sable Offshore Corp. has completed a Follow-on Equity Offering in the amount of $256.521793 million. Security Name: Common Stock Security Type: Common Stock Securities Offered: 8,695,654 Price\Range: $29.5 Discount Per Security: $1.18
공시 • May 20Sable Offshore Corp. Updates Production Guidance for the Second Half of 2025Sable Offshore Corp. updated production guidance for the second half of 2025. For the period, the company expects Net Average Daily Production of 40,000 BOE/D to 50,000 BOE/D against 20,000 BOE/D to 25,000 BOE/D.
Price Target Changed • May 19Price target increased by 9.9% to US$31.33Up from US$28.50, the current price target is an average from 6 analysts. New target price is 5.1% below last closing price of US$33.02. Stock is up 143% over the past year. The company is forecast to post a net loss per share of US$0.16 next year compared to a net loss per share of US$9.21 last year.
Price Target Changed • May 16Price target increased by 13% to US$32.20Up from US$28.50, the current price target is an average from 5 analysts. New target price is 12% above last closing price of US$28.86. Stock is up 110% over the past year. The company is forecast to post a net loss per share of US$1.68 next year compared to a net loss per share of US$9.21 last year.
New Risk • May 12New minor risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow. Free cash flow: -US$310m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (49% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$310m). Share price has been volatile over the past 3 months (14% average weekly change).
New Risk • May 05New major risk - Revenue and earnings growthEarnings have declined by 104% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 104% per year over the past 5 years. Shareholders have been substantially diluted in the past year (48% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Share price has been volatile over the past 3 months (14% average weekly change).
공시 • Apr 19Sable Offshore Corp., Annual General Meeting, Jun 11, 2025Sable Offshore Corp., Annual General Meeting, Jun 11, 2025.
Breakeven Date Change • Mar 27Forecast breakeven date pushed back to 2026The 2 analysts covering Sable Offshore previously expected the company to break even in 2025. New consensus forecast suggests losses will reduce by 91% to 2025. The company is expected to make a profit of US$145.7m in 2026. Average annual earnings growth of 117% is required to achieve expected profit on schedule.
공시 • Mar 19Sable Offshore Corp. Auditor Raises 'Going Concern' DoubtSable Offshore Corp. filed its 10-K on Mar 17, 2025 for the period ending Dec 31, 2024. In this report its auditor, Ham, Langston & Brezina, LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.
공시 • Mar 18Sable Offshore Corp. Provides Production Guidance for the Second Half of 2025Sable Offshore Corp. provided production guidance for the second half of 2025. For the period, the company expects Net Average Daily Production of 20,000 BOE/D ? 25,000 BOE/D.
Price Target Changed • Feb 18Price target increased by 12% to US$28.80Up from US$25.80, the current price target is an average from 5 analysts. New target price is 8.0% below last closing price of US$31.31. Stock is up 161% over the past year. The company is forecast to post a net loss per share of US$6.14 next year compared to a net loss per share of US$1.78 last year.
New Risk • Feb 13New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (over 5x increase in shares outstanding). Revenue is less than US$1m. Minor Risk Share price has been volatile over the past 3 months (13% average weekly change).
Seeking Alpha • Jan 23Sable Offshore: Too Much Uncertainty For ComfortSummary Sable Offshore Corp. shares spiked 7.9% on January 22nd, with no specific news identified; the stock is up 127.6% since February 2024. The company has significant upside potential but faces regulatory challenges and uncertainty, leading me to rate it a “hold” for cautious investors. Sable Offshore's main asset is the Santa Ynez field, acquired from ExxonMobil, with 646 million boe in reserves but dormant since a 2015 oil spill. Despite potential production plans, the company's future economics are unclear, making SOC stock a speculative investment compared to its peers. Read the full article on Seeking Alpha
공시 • Jan 02Sable Offshore Corp. Provides Update on Litigation StatusSable Offshore Corp. provided an update on the previously disclosed Center for Biological Diversity et al. v. Debra Haaland et al. lawsuit (the “Haaland lawsuit”). On December 20, 2024, the U.S. Department of Justice (in its capacity as counsel for the U.S. Bureau of Safety and Environmental Enforcement, or “BSEE”) filed a motion to remand without vacatur the Haaland lawsuit to BSEE for BSEE to reconsider its 2023 decision approving an extension to resume operations on the leases for the Santa Ynez Unit. Assuming the motion is granted, Sable intends to cooperate with the government to facilitate an expeditious review and that the government’s prior extensions to resume operations were both appropriate and authorized. Moreover, under the government’s proposed remand, Sable’s operations on the Santa Ynez Unit remain unaffected. In the event that any non-governmental third party attempts to unlawfully interfere with Sable from restarting the Santa Ynez Unit, which contains net estimated contingent resources currently valued at over $10 billion, Sable is prepared to vigorously pursue all available legal remedies.
Seeking Alpha • Dec 23Sable Offshore Is In The Final HourSummary Sable Offshore is progressing toward restarting operations. Despite political challenges and lower oil prices, Sable has attracted institutional ownership, providing price support for SOC shares. Sable is targeting to begin producing in 2025, aiming to produce 25-29Mboe/d in 2025, potentially generating $575mm in net revenue. Once operational, Sable is targeting peak production by 2030 at 50Mboe/d+. Read the full article on Seeking Alpha
Recent Insider Transactions Derivative • Oct 25Executive VP exercised options to buy US$1.0m worth of stock.On the 23rd of October, Anthony Duenner exercised options to buy 50k shares at a strike price of around US$11.50, costing a total of US$575k. This transaction amounted to 6.7% of their direct individual holding at the time of the trade. Anthony now holds 750.00k shares directly in their own name. Company insiders have collectively sold US$381k more than they bought, via options and on-market transactions in the last 12 months.
New Risk • Oct 24New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$332m Forecast net loss in 1 year: US$82m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Shareholders have been substantially diluted in the past year (423% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Currently unprofitable and not forecast to become profitable next year (US$82m net loss next year).
Board Change • Oct 15Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Independent Director Michael Dillard was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Price Target Changed • Sep 24Price target increased by 15% to US$31.33Up from US$27.33, the current price target is an average from 3 analysts. New target price is 27% above last closing price of US$24.73. Stock is up 137% over the past year. The company is forecast to post a net loss per share of US$6.06 next year compared to a net loss per share of US$1.78 last year.
공시 • Sep 20Sable Offshore Corp. announced that it expects to receive $150 million in fundingSable Offshore Corp. announced it has entered into subscription agreements to issue 7,500,000 shares of its common stock in a private placement to institutional investors for gross proceeds of approximately $150 million. The private placement is expected to close on September 23, 2024
New Risk • Sep 03New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (315% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Significant insider selling over the past 3 months (US$1.2m sold).
Recent Insider Transactions • Jun 10Independent Director recently sold US$1.2m worth of stockOn the 5th of June, Gregory Pipkin sold around 82k shares on-market at roughly US$14.66 per share. This transaction amounted to 49% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$2.7m. Insiders have been net sellers, collectively disposing of US$956k more than they bought in the last 12 months.
공시 • May 26U.S. Department of the Interior Bureau of Ocean Energy Management and U.S. Department of the Interior Bureau of Safety and Environmental Enforcement Approves Assignments of Record Title Interest from Exxon Mobil Corporation to Sable Offshore CorpOn May 21, 2024, the U.S. Department of the Interior Bureau of Ocean Energy Management (“BOEM”) approved Assignments of Record Title Interest from Exxon Mobil Corporation to Sable Offshore Corp. in 16 Federal Oil and Gas Leases comprising the Santa Ynez Unit. On May 22, 2024, the U.S. Department of the Interior Bureau of Safety and Environmental Enforcement (“BSEE”) approved Sable Offshore Corp. as Operator of the Santa Ynez Unit. The unit covers approximately 76,000 acres situated offshore California in the Pacific Region of the United States Outer Continental Shelf.
Recent Insider Transactions • May 23Executive VP & COO recently sold US$2.7m worth of stockOn the 21st of May, Doss Bourgeois sold around 200k shares on-market at roughly US$13.49 per share. This transaction amounted to 24% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Doss' only on-market trade for the last 12 months.
Seeking Alpha • May 07Sable Offshore May Face Challenges Going Into First ProductionSummary Sable Offshore is an integrated oil company with assets in the California market, including the Santa Ynez Field and Las Flores Canyon Processing Facility. The company faces significant operational and political risks as it seeks final approval to restart production after being idled since 2014 due to a pipeline leak. If successful, the firm can offer significant upside potential; however, given the political climate in California, I believe that management is underestimating the timeline to first oil. Read the full article on Seeking Alpha
Recent Insider Transactions • Feb 19Chairman & CEO recently bought US$200k worth of stockOn the 13th of February, James Flores bought around 18k shares on-market at roughly US$11.43 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was James' only on-market trade for the last 12 months.
New Risk • Feb 18New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 67% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Negative equity (-US$26m). Shareholders have been substantially diluted in the past year (67% increase in shares outstanding). Revenue is less than US$1m.
공시 • Feb 16+ 1 more updateFlame Acquisition Corp. (NYSE:SOC) completed the acquisition of Sable Offshore Corp.Flame Acquisition Corp. (NYSE:SOC) entered into a business combination to acquire Sable Offshore Corp. for $29.9 million on November 2, 2022. As per the terms of the transaction, all of the limited liability company membership interests in Sable will be converted into the right to receive 3,000,000 shares of Flame Class A common stock. In a related transaction, Sable Offshore Corp. entered into a Purchase and Sale Agreement to acquire certain assets constituting the Santa Ynez field in Federal waters offshore California and associated onshore processing and pipeline assets from Exxon Mobil Corporation and Mobil Pacific Pipeline Company on November 1, 2022. After giving effect to the business combination, the company will be named Sable Offshore Corp. The Flame Board will continue to be composed of four members. Upon completion of the Business Combination, James C. Flores will continue to serve as the Chief Executive Officer of New Sable and the New Sable Board will be composed of four members. Sable Offshore Corp. reported total assets of $2129.044 million, net assets of $1780.878 million, loss from operation of $109.988 million and net loss of $109.710 million for the year ended December 31, 2021.The transaction is subject to certain closing conditions, including the expiration of applicable waiting periods under the HSR Act, the proxy statement shall have received SEC clearance, the receipt of required approvals of Flame’s stockholders, Flame having at least $5,000,001 of net tangible assets, the Flame Class A common stock to be issued in connection with the transactions shall have been approved for listing on NYSE, execution and delivery of the ancillary agreements including Letter of Transmittal, Registration Rights Agreement, the Subscription Agreements, and any other agreement, The Flame Board has unanimously approved the merger agreement and the Flame Board unanimously recommends that stockholders vote for the merger. In addition, the board of directors of Sable approved the merger agreement. The Flame Board formed a special committee comprised of Michael Dillard, Gregory Pipkin and Christopher Sarofim, the independent directors serving on the Flame Board to analyze, negotiate and make recommendations to the Flame Board and Flame stockholders regarding the business combination. As on February 27, 2023, the special meeting of Flame stockholders approved the proposal to amend Flame’s amended and restated certificate of incorporation to extend the date by which Flame has to consummate a business combination from March 1, 2023 to September 1, 2023. As of December 20, 2023, the transaction is expected to close on February 1, 2024. As of February 12, 2024, Flame Acquisition Corp. shareholders approved the merger and the closing of the business combination is expected to occur on or about February 14, 2024.Petrie Partners Securities, LLC is serving as financial advisor and fairness opinion provider to the board of directors of Flame. Cowen and Company, LLC, Intrepid Partners, LLC and Jefferies LLC are serving as joint financial advisors to Sable. Cowen, Intrepid and Jefferies are serving as joint placement agents in connection with the Sable PIPE Investment. Ryan Maierson, Stephen Szalkowski, Matthew Jones, Bryant Lee, Jason Cruise, Peter Todaro, Adam Kestenbaum, Janice Schneider, Joshua Bledsoe and Jim Cole of Latham & Watkins LLP is serving as legal counsel to Flame. Latham & Watkins LLP also provided due diligence services to Flame. Jason Jean, G. Alan Rafte, Molly E. Butkus, Heather L. Brown, Jason B. Hutt, Jonathan K. Hance, Steven J. Lorch, Matthew B. Grunert, Elizabeth L. McGinley, Robert S. Nichols, Daniel W. Areshenko, Jacqueline R. Java and Troy Harder of Bracewell LLP are serving as legal counsel to Sable. Bracewell also provided due diligence services to Sable. Kirkland & Ellis LLP is serving as legal counsel to Cowen, Intrepid and Jefferies. American Stock Transfer & Trust Company, LLC acted as transfer agent to Flame. Flame have engaged D.F. King & Co., Inc. to assist in the solicitation of proxies for a fee of $18,000. Pursuant to its engagement letter, Petrie Partners received a work fee of $100,000. Petrie Partners also earned an opinion fee of $1,000,000 upon the rendering of its fairness opinion to the Flame Board.Flame Acquisition Corp. (NYSE:SOC) completed the acquisition of Sable Offshore Corp. on February 14, 2024. In connection with the Closing, the Company changed its name from Flame Acquisition Corp. to Sable Offshore Corp. The Common Stock and warrants will commence trading on the New York Stock Exchange (“NYSE”) under the symbols “SOC” and “SOC.WS,” respectively, on February 15, 2024, subject to ongoing review of the Company’s satisfaction of all listing criteria following the Business Combination.
공시 • Feb 08Flame Acquisition Corp. announced that it expects to receive $0.535 million in funding from Flame Acquisition Sponsor LLCFlame Acquisition Corp. announced a private placement of $535,000 in debt round of funding on February 6, 2023. The company issued unsecured promissory note in the transaction. The transaction included participation from returning investor Flame Acquisition Sponsor LLC.
Board Change • Dec 31High number of new and inexperienced directorsThere are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Chairman, CEO & President James Flores is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model.
Recent Insider Transactions • Dec 11Chairman recently bought US$76k worth of stockOn the 6th of December, James Flores bought around 8k shares on-market at roughly US$10.10 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was James' only on-market trade for the last 12 months.