secwatch.observer — SEC 8-K summary
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Issuer:     Sable Offshore Corp. (SOC)
CIK:        0001831481
Form:       8-K
Filed at:   2025-03-17T23:59:59+00:00
Accession:  0001831481-25-000017
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sable Offshore posts $617M net loss in 2024; targets Q2 2025 production restart
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- Net loss of $617.3M driven by non-cash warrant liability changes, interest, and restart costs.
- Ended 2024 with $300.4M cash, $833.5M debt, and 89.3M shares outstanding after $773.8M equity raise.
- Received OSFM approval for enhanced pipeline integrity standards; PHMSA no-objection letter received.
- Initiated pipeline hydrotesting; expects SYU restart in Q2 2025 starting with Harmony platform.
- 2H25 guidance: 20,000–25,000 BOE/D production, $70–$90M total capex, and 5–7 workovers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831481/000183148125000017/0001831481-25-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831481/000183148125000017/socc-20250317.htm
  HTML page:      https://secwatch.observer/filing/0001831481-25-000017

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