newsfilter
← Earnings
Earnings Releases·

Sable Offshore Corp. — Third Quarter 2026 Earnings Summary

  • Q3 2026 total revenue reached $154.4 million, a 13% increase quarter-over-quarter, while average daily net sales volumes rose 29% to approximately 27,000 barrels of oil per day.
  • The company completed an at-the-market equity program, selling 16,110,711 shares at an average price of $4.75, resulting in $38.0 million in cash and cash equivalents at quarter-end.
  • Platform Hondo is scheduled to be fully online in December 2026 with a forecasted production rate of 10,000 gross barrels of oil per day, following successful perforation additions and stable reservoir pressure.
  • Near-term working capital constraints persist due to a sales halt by the sole downstream purchaser in October 2026; the company has diversified marketing to three additional refineries and is evaluating a bulk sale agreement for inventory.
  • No ATM equity sales have occurred in Q4 2026 to date, and the company faces risks regarding debt refinancing, future financing availability, and operational recommencement costs.
Company
SABLE OFFSHORE CORP
Sector
Energy
Industry
Oil & Gas Drilling