Sable Offshore soars after judge lays out restart of Las Flores Pipelines

Shares of Sable Offshore (SOC) jumped in late trading after the Santa Barbara Court issued a preliminary ruling in a case regarding the Las Flores Pipelines. Judge Donna Geck wrote: “The applications are granted to enjoin, pending the disposition of these proceedings or further order of the court, the restart of the Las Flores Pipelines, as herein defined, until 10 court days following the filing and service of notice by or on behalf of real parties in interest Sable Offshore Corp., and Pacific Pipeline Company (collectively, Sable) that Sable has received all necessary approvals and permits for restarting the Las Flores Pipelines and that Sable intends to commence such restart. ‘Restart’ shall have the same meaning as in the Federal Consent Decree identified herein.” Shares of Sable Offshore soared 28% in late-day trading to $28.34.