Sable Offshore reports Q2 net loss $128.1M; production restart on track, oil sales expected Sept 2025

Sable Offshore Corp.

2025-Q2 EPS reported -$2.70

Net loss of $128.1M in Q2 2025, driven by restart-related opex and non-cash interest expense.
Restarted production at Santa Ynez Unit on May 15, 2025; flowed ~130,000 bbl in Q2 and additional ~220,000 bbl as of Aug 8.
Closed upsized public offering of 10M shares at $29.50, netting $282.6M in proceeds.
Short-term debt of $875.6M; cash and cash equivalents of $247.1M (plus $35.6M restricted cash).
Expects to recommence oil sales upon Onshore Pipeline restart in September 2025.

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