Sable Offshore Corp.
Business
Sable Offshore Corp. is an independent oil and natural gas exploration and production company operating the Santa Ynez Unit, comprising 16 federal offshore leases off California with three production platforms and onshore processing facilities. The company produces crude oil and natural gas from offshore fields and transports output through the Santa Ynez Pipeline System to onshore processing and storage facilities, with operations spanning federal offshore waters, California state waters, and onshore assets in Santa Barbara, San Luis Obispo, and Kern counties.
Summary from 10-K filed 2026-02-27
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total revenue | 0 | 0 | 0 | — | — | |
| Operations and maintenance expenses | 219 | 88 | 61 | — | — | |
| Depletion, depreciation, amortization and accretion | 13 | 10 | 21 | — | — | |
| General and administrative expenses | 176 | 229 | 13 | — | — | |
| Total operating expenses | 408 | 327 | 94 | — | — | |
| Loss from operations | −408 | −327 | −94 | −6 | −2 | |
| Change in fair value of warrant liabilities | −89 | 227 | 0 | 498,000 | 6 | |
| Other (income) expense, net | −9 | −4 | −801,000 | — | — | |
| Interest expense | 88 | 67 | 0 | — | — | |
| Total other (income) expense, net | −10 | 291 | −801,000 | 4 | 6 | |
| Loss before income taxes | −398 | −617 | −94 | −2 | 4 | |
| Income tax expense (benefit) | 12 | −48,000 | 0 | −757,069 | 0 | |
| Net loss | −410 | −617 | −94 | −3 | 4 | |
| Weighted average Common Stock outstanding, basic (in shares) | 98 | 67 | — | — | — | |
| Weighted average Common Stock outstanding, diluted (in shares) | 98 | 67 | — | — | — | |
| Basic net loss per Common Stock (in dollars per share) | −4.18 | −9.21 | — | — | — | |
| Diluted net loss per Common Stock (in dollars per share) | −4.18 | −9.21 | — | — | — |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2024 2024-01-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 98 | 300 | 0 | 0 | — | |
| Restricted cash | 0 | 35 | 0 | 0 | — | |
| Inventory | 12 | 0 | — | — | — | |
| Materials and supplies | 15 | 15 | — | 16 | — | |
| Prepaid expenses and other current assets | 11 | 4 | — | 0 | — | |
| Total current assets | 136 | 355 | — | 16 | 188,468 | |
| Oil and gas properties | 1,567 | 1,194 | — | 4,382 | — | |
| Less: Accumulated depreciation, depletion and amortization | −6 | 0 | — | −3,693 | — | |
| Total oil and gas properties, net | 1,600 | 1,200 | — | 689 | — | |
| Other, net | 44 | 33 | — | 6 | — | |
| Total assets | 1,741 | 1,583 | — | 712 | 291 | |
| Accounts payable and accrued liabilities | 99 | 120 | — | 5 | — | |
| Senior Secured Term Loan including paid-in-kind interest, net | 922 | 0 | — | — | — | |
| Total current liabilities | 1,023 | 121 | — | 18 | 7 | |
| Warrant liabilities | 38 | 127 | — | 0 | — | |
| Asset retirement obligations | 113 | 100 | — | 349 | — | |
| Senior Secured Term Loan including paid-in-kind interest, net | 0 | 834 | — | 0 | — | |
| Deferred tax liability | 13 | 1 | — | 0 | — | |
| Other | 19 | 17 | — | 6 | — | |
| Total liabilities | 1,207 | 1,199 | — | 373 | 19 | |
| Commitments and Contingencies (Note 8) | — | — | — | — | — | |
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding at December 31, 2025 and 2024 | 0 | 0 | — | 0 | — | |
| Common Stock, $0.0001 par value; 500,000,000 shares authorized; 144,961,796 and 89,310,996 issued and outstanding at December 31, 2025 and 2024, respectively | 15,000 | 8,000 | — | 0 | — | |
| Additional paid-in capital | 1,643 | 1,082 | — | 0 | — | |
| Accumulated deficit | −1,100 | −698 | — | 0 | −18 | |
| Total Stockholders Equity | 534 | 384 | −19 | 339 | −18 | |
| Total Liabilities and Stockholders Equity | 1,741 | 1,583 | — | 712 | 291 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Share based compensation expense | 43 | 92 | 0 | — | — | |
| Amortization of operating lease right-of-use asset | 2 | 1 | 0 | — | — | |
| Amortization of debt issuance costs | 542,000 | 1 | 0 | — | — | |
| Paid-in-kind interest | 88 | 66 | 0 | — | — | |
| Effect of amendment to the Senior Secured Term Loan | 0 | 5 | 0 | — | — | |
| Inventory | −6 | 0 | 0 | — | — | |
| Material and supplies | 428,000 | 1 | 2 | — | — | |
| Prepaid expenses and other assets | −8 | −3 | 0 | — | — | |
| Accounts payable and accrued liabilities | 4 | 54 | −4 | 4 | 275,500 | |
| Due to related party | 0 | 0 | 5 | — | — | |
| Net cash used in operating activities | −352 | −163 | −70 | −2 | −2 | |
| Payments for capital expenditures | −418 | −72 | 0 | — | — | |
| Cash consideration paid | 0 | −204 | 0 | — | — | |
| Net cash used in investing activities | −418 | −276 | 0 | 786,918 | −288 | |
| Capital contribution from parent | 0 | 0 | 70 | — | — | |
| Offering proceeds | 545 | 590 | 0 | — | — | |
| Payment of equity issuance costs | −14 | −31 | 0 | 0 | −799,796 | |
| Cash received on warrant exercises, net | 0 | 184 | 0 | — | — | |
| Payment on Senior Secured Term Loan | 0 | −19 | 0 | — | — | |
| Payment of debt issuance costs | 0 | −2 | 0 | — | — | |
| Payment of non-convertible promissory notesrelated parties | 0 | −1 | 0 | — | — | |
| Net cash provided by financing activities | 531 | 722 | 70 | 705,000 | 290 | |
| Net change in cash | −238 | 282 | 0 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Sable Offshore Corp.'s CIK number?
Sable Offshore Corp.'s SEC CIK number is 0001831481 (1831481). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Sable Offshore Corp.'s SEC filings?
All of Sable Offshore Corp.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Sable Offshore Corp. last report earnings?
Sable Offshore Corp. (SOC) most recently filed an earnings 8-K with the SEC on May 6, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001831481-26-000050). This is Sable Offshore Corp.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Sable Offshore Corp.'s most recent earnings 8-K?
Sable Offshore Corp.'s latest earnings 8-K (Item 2.02) was filed May 6, 2026 under accession 0001831481-26-000050. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Sable Offshore Corp.'s latest earnings 8-K →
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