Sable Offshore posts Q2 net loss of $165.4M; receives final approval for SYU assignment

Sable Offshore Corp.

2024-Q2 EPS reported -$5.74

Net loss of $165.4M driven by change in warrant liabilities, restart expenses, and stock-based compensation.
Ended Q2 with $790.4M debt, $112.1M cash, and $35.1M restricted cash.
Received final BSEE/BOEM approval for assignment of Santa Ynez Unit (16 leases, ~76,000 acres, 3 platforms).
OSFM reaffirmed 2021 Plan for Pipelines; new implementation deadline July 1, 2025.
County of Santa Barbara deemed complete applications for change of ownership/operator of SYU and pipelines.

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