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Sable Offshore Corp. Reports Third Quarter 2026 Financial and Operational Results

  • Sable Offshore Corp. reported $154.4 million in total revenue for Q3 2026, a 13% quarter-over-quarter increase.
  • The company ended the quarter with $38.0 million in cash & cash equivalents.
  • Common stock outstanding reached 207,980,283 shares following the sale of 16,110,711 shares via the ATM program at an average price of $4.75.
  • Average daily net sales volumes rose 29% quarter-over-quarter to approximately 27,000 net barrels of oil per day.
  • Production averaged 795 gross barrels of oil per day per well across 37 wells per day, with Perf Add operations yielding over 700 barrels per well per day.
  • Reservoir pressure in the SYU zones remained stable with little to no production decline observed during the quarter.
  • Final paperwork for Platform Hondo upgrades was submitted to the MMA, with physical inspections & initial production scheduled for November.
  • All wells on Platform Hondo are forecasted to be online by December 2026 at a rate of approximately 10,000 gross barrels of oil per day.
  • Crude oil sales were halted by a sole purchaser in early October 2026 due to refinery maintenance, prompting Sable to begin selling to three additional Los Angeles-area refineries in early November 2026.
  • The company is evaluating a bulk sale agreement to address working capital constraints caused by the downstream disruption.
  • No ATM equity sales occurred in Q4 2026 to date, with the most recent transaction taking place on September 17, 2026.