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An announcement from Sable Offshore ( (SOC) ) is now available.
On March 17, 2025, Sable Offshore Corp. announced its financial and operational results for 2024, reporting a net loss of $617.3 million due to non-cash changes in warrant liabilities and other expenses. The company made significant progress in pipeline integrity and repair programs, receiving approvals from relevant authorities, and plans to restart production at the Santa Ynez Unit in the second quarter of 2025. This restart is expected to enhance energy security and affordability in California, with updated capital expenditure and production guidance issued for the latter half of 2025.
More about Sable Offshore
Sable Offshore Corp. is an independent oil and gas company headquartered in Houston, Texas, focusing on the responsible development of the Santa Ynez Unit in federal waters offshore California. The company has extensive experience in safely operating within California.
YTD Price Performance: 6.79%
Average Trading Volume: 1,506,197
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.22B
Learn more about SOC stock on TipRanks’ Stock Analysis page.
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