Business
Sable Offshore Corp. Reports First Quarter 2025 Financial and Operational Results
HOUSTON, May 09, 2025--Sable Offshore Corp. Reports First Quarter 2025 Financial and Operational Results
About this update from Sable Offshore Corp.
[{"type":"text","content":"HOUSTON, May 09, 2025--(BUSINESS WIRE)--Sable Offshore Corp. ("Sable," or the "Company")(NYSE: SOC) today announced its first quarter 2025 financial and operational results.","length":193,"tagName":"p"},{"type":"text","content":"First Quarter 2025 Financial Highlights","length":39,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Reported a net loss of $109.5 million, primarily attributable to production restart related operating expenses, non-cash interest expense, and a non-cash change in fair value of warrant liabilities.","length":198,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Ended the quarter with 89,338,358 shares of Common Stock outstanding.","length":69,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Concluded the quarter with outstanding debt of $854.6 million, inclusive of paid-in-kind interest, additional principal incurred from the debt amendment, and debt issuance costs.","length":178,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Ended the quarter with cash and cash equivalents balance of $189.0 million, exclusive of restricted cash balance of $35.5 million.","length":130,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":575,"olType":false},{"type":"text","content":"About Sable","length":11,"tagName":"p"},{"type":"text","content":"Sable Offshore Corp. is an independent oil and gas company, headquartered in Houston, Texas, focused on responsibly developing the Santa Ynez Unit in federal waters offshore California. The Sable team has extensive experience safely operating in California.","length":257,"tagName":"p"},{"type":"text","content":"Forward-Looking Statements","length":26,"tagName":"p"},{"type":"text","content":"The information in this press release include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," "continue," "plan," "forecast," "predict," "potential," "future," "outlook," and "target," the negativ...