Sable Offshore Corp. announced full year 2025 results, reporting a net loss of $410.2 million and short-term outstanding debt of $921.6 million with cash and cash equivalents of $97.7 million. The company highlighted production restart at Santa Ynez Unit, pipeline repairs, equity offerings raising $545 million, and debt maturity extension to March 31, 2027.
Key takeaways
Reported net loss of $410.2 million for full year 2025
Short-term outstanding debt $921.6 million, cash and equivalents $97.7 million as of December 31, 2025
Restarted production at Santa Ynez Unit on May 19, 2025, flowing oil to Las Flores Canyon
Public offering of 10,000,000 shares at $29.50 per share on May 23, 2025, raising $295.0 million
Private placement of 45,454,546 shares at $5.50 per share on November 10, 2025, raising $250.0 million
Extended Senior Secured Term Loan maturity to March 31, 2027 or 90 days after first hydrocarbon sales, interest rate to 15% per annum on November 24, 2025