Sable Offshore Reports Production Update and Debt Refinancing Plans
Sable Offshore Corp. plans to refinance its Senior Secured Term Loan by Q2 2026 while reporting 40 wells producing 750 barrels daily. The company anticipates a production ramp-up with 74 wells expected to yield 700 barrels per day per well, impacting market performance amidst ongoing litigation and capital projects.
Theia Market Signal Identification - AI AssistedSable Offshore Corp. (NYSE:SOC) has resumed oil transportation via Segments 324 and 325 of the Santa Ynez Pipeline System and is producing an average of 750 gross barrels of oil per day across 40 wells.
The company projects capital expenditures of approximately $180 million from April to December 2026 for upgrades and optimization. Platform Hondo is set to begin operations in June 2026, aiming for a production rate of about 10,000 gross barrels per day.
Sable intends to refinance its Senior Secured Term Loan in Q2 2026 and is seeking federal credit support. The company is also pursuing damages exceeding $447 million related to permits. Operational improvements follow the invocation of the Defense Production Act, though Benchmark maintains a Hold rating on the stock, indicating performance will dictate future value.
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