secwatch.observer — SEC 8-K summary
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Issuer:     Sable Offshore Corp. (SOC)
CIK:        0001831481
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0001193125-24-139462
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sable Offshore Q1 net loss $180.1M; updates resource to 646 MMboe, PV-10 $10.0B; production restart Sep 2024
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- Net loss $180.1M for Q1 2024, primarily from settlement costs and business combination expenses.
- Total net estimated contingent resources increased 21% to 646 MMboe; PV-10 value $10.0B (SEC Apr 2024 pricing).
- Entered settlement for pipeline rights-of-way; court preliminary approval; fairness hearing Sep 13, 2024.
- Expect production restart at Santa Ynez Unit in Sep 2024; initial net rate ~28 MBOE/D.
- 4Q24 guidance: net avg production 23,000-28,000 BOE/D; lease operating expense $17-$19/BOE.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831481/000119312524139462/0001193125-24-139462-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831481/000119312524139462/d793326d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-139462

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