Summary
Sable Offshore: Too Risky, Moving To Sell
I am cutting my losses on Sable Offshore Corp. due to a bearish outlook on crude oil. 2Q results revealed slower-than-expected production ramp, hindered by third-party midstream and downstream constraints outside SOC's control. SOC's hedging covers only a portion of expected volumes, with collar ceilings limiting upside and net realized prices potentially below $40/bbl.
Sable Offshore Q2 Earnings Call Highlights
Sable Offshore NYSE: SOC outlined plans to restart Platform Hondo by the end of September, pursue a broader refinancing in 2027 and address near-term crude marketing constraints during its second-quarter 2026 investor update call.
Sable Offshore Corp. (SOC) Q2 Earnings and Revenues Lag Estimates
Sable Offshore Corp. (SOC) came out with quarterly earnings of $0.05 per share, missing the Zacks Consensus Estimate of $0.21 per share. This compares to a loss of $1.1 per share a year ago.
Sable Offshore Corp. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
 Curtis Ellergodt Rothschild Investment LLC | 136 | $2,356.27 | $719.44 | -$1,636.83 | -69.47% |
| BZ Brandon Zatopek Commonwealth Equity Services LLC | 17,475 | $121,800.75 | $83,006.25 | -$38,794.5 | -31.85% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 40 | $360.8 | $186 | -$174.8 | -48.45% |
| BR Bill Reuther SILVER OAK SECURITIES Inc.ORPORATED | 18,803 | $131,056.91 | $89,314.25 | -$41,742.66 | -31.85% |
| BG Bart Gancher Intech Investment Management LLC | 41,438 | $732,783.57 | $197,244.88 | -$535,538.69 | -73.08% |
Sable Offshore Corp. (SOC) FAQ
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Sable Offshore Corp. Profile
| Oil, Gas & Consumable Fuels Industry | Energy Sector | James C. Flores CEO | NYSE Exchange | 78574H104 CUSIP |
| US Country | 200 Employees | - Last Dividend | - Last Split | - IPO Date |
Overview
Sable Offshore Corp., originally established as Flame Acquisition Corp., is a company that has marked its presence in the oil and gas industry by focusing on exploration and development activities primarily in the United States. With operations that span across both offshore and onshore facilities, Sable Offshore Corp. has established a robust footprint in the energy sector. The company's operations are strategically located offshore California, where it manages three platforms, in addition to an onshore processing facility. This expansive operation covers approximately 76,000 acres across 16 federal leases, showcasing the company's significant scale of operation. Founded in 2020 and based in Houston, Texas, Sable Offshore Corp. has evolved rapidly within a few years, indicating a strong position in the energy industry's competitive landscape.
Products and Services
- Oil and Gas Exploration
Sable Offshore Corp. is actively engaged in the exploration of oil and gas resources. This critical operation involves geological surveys, seismic data analysis, and drilling exploratory wells to locate and quantify oil and gas reserves. Successful exploration activities are fundamental for the company's growth and sustainability in the energy market, enabling it to identify new reservoirs that can be developed for production.
- Offshore Platform Operations
With three platforms located offshore California, Sable Offshore Corp. specializes in the extraction and initial processing of oil and gas from beneath the ocean floor. These offshore platforms are equipped with advanced technology to ensure efficient, safe, and environmentally responsible operations. The company’s offshore operations are critical to its production capabilities, contributing significantly to its oil and gas output.
- Onshore Processing Facility
Complementing its offshore operations, Sable Offshore Corp. operates an onshore processing facility. This facility is designed to handle the processing and refining of oil and gas that is extracted from offshore platforms. It plays a vital role in preparing the raw materials for market sale, including the separation of hydrocarbons, removal of impurities, and the classification of oil and gas products based on quality and type. This onshore facility underscores the company’s integrated approach to oil and gas production, from extraction to market delivery.
