Sable Offshore Corp.

NYSE•SOC

CEO: Mr. James C. Flores

Sector: Energy

Industry: Oil & Gas Drilling

Listing Date: 2021-04-19

Sable Offshore Corp. engages in the oil and gas exploration and development activities in the United States. The company operates through three platforms located in federal waters offshore California. It owns and operates 16 federal leases across approximately 76,000 acres and subsea pipelines, which transport crude oil, natural gas, and produced water from the platforms to the onshore processing facilities. The company was formerly known as Flame Acquisition Corp. and changed its name to Sable Offshore Corp. in February 2024. Sable Offshore Corp. was incorporated in 2020 and is based in Houston, Texas.

Contact Information

845 Texas Avenue, Suite 2900, Houston, TX, 77002, United States

713-579-6106

www.sableoffshore.com

Market Cap

$1.78B

P/E (TTM)

-4.3

37.9

Dividend Yield

52W High

$35.00

52W Low

$3.72

52W Range

45%

Rank53Top 76.1%

2.8

F-Score

Modified Piotroski Analysis

Based on 5-year fundamentals

Weak • 2.8 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2021-2025

Financial Dashboard

Q4 2025 Data

Revenue

$0.00+0.00%

4-Quarter Trend

EPS

-$0.43+0.00%

4-Quarter Trend

FCF

-$192.66M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Net Loss Significantly Reduced Net loss narrowed by $218.9M, or 35%, to $(410.2)M in 2025, despite zero oil sales revenue reported.

SYU Production Restart Achieved Production resumed May 15, 2025, from six wells; pipeline repair completed satisfying Consent Decree terms.

Operating Costs Remain Elevated Operating and maintenance expenses were $219.2M in 2025, expected to remain high until sales commence.

Debt Rises Post-Amendment Total debt reached $921.6M by year-end 2025, following the Second Debt Amendment increasing interest to 15%.

Risk Factors

Pipeline Sales Resumption Uncertain Successful resumption of oil sales via SYPS is not assured despite satisfying Consent Decree conditions.

Resources Not Classified Reserves Estimated petroleum quantities remain "contingent resources"; no assurance of future recovery or reclassification.

OS&T Strategy High Capital Alternative OS&T strategy requires estimated $475.0M capital investment pending BOEM regulatory clearances.

Cash Reserves Decreased Cash and cash equivalents ended 2025 at $97.7M, down from $300.4M at the end of 2024.

Outlook

Future Performance Dependent on Market Future performance driven by establishing economic pathway to market and managing regulatory, legal risks.

Capital Needs Post-Sales Anticipate $100.0M to $200.0M post-sales capital expenditures in 2026 for pipeline ramp-up activities.

OS&T Sales Target Q4 2026 OS&T strategy targets commencing commercial oil sales in the fourth quarter of 2026, pending approvals.

Debt Refinancing Expected Post-Sales Expect to pursue refinancing of Senior Secured Term Loan after improving operating cash flows from sales.

Peer Comparison

Revenue (TTM)

WKC

$36.93B

-12.4%

CLMT

$4.14B

-1.2%

NBR

$3.18B

+8.7%

Gross Margin (Latest Quarter)

FLNG

50.6%

-7.8pp

BORR

31.4%

-46.8pp

NBR

19.1%

-20.7pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
CLMT	$3.04B	-90.1	4.1%	14.2%
TALO	$2.77B	-5.8	-20.3%	22.4%
EFXT	$2.50B	45.1	4.2%	26.1%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

N/M

Revenue Volatile

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

Cash Flow Needs Attention

Deep Research

Next earnings:May 7, 2026

EPS:-

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data