Sable provides operational update: OS&T $475M, PHMSA approval, $250M ATM, litigation

Sable Offshore Corp.

OS&T strategy: Q1'26 vessel acquisition, Q3'26 delivery, Q4'26 first oil >50,000 bbl/d; total capex ~$475M.
Second Debt Amendment: maturity to Mar 31, 2027 or 90 days after first sales; interest rate 15% PIK; $25M liquidity.
PHMSA approved Restart Plan, issued Emergency Special Permit; pipelines deemed interstate; state waivers litigation pending.
Coastal Commission imposed cease & desist and $18M penalty; Sable appealed; preliminary injunction granted May 2025.
Entered $250M ATM stock offering with TD Securities and Jefferies; commission 3.0%.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Sable Offshore Corp. entered into Sales Agreement with TD Securities (USA) LLC and Jefferies LLC valued at up to $250,000,000 (effective 2026-02-02).

Action: entry
Agreement: atm program
Counterparty: TD Securities (USA) LLC and Jefferies LLC
Value: up to $250,000,000
Effective: 2026-02-02

Exact text from the filing

On February 2, 2026, Sable Offshore Corp. (the “Company”) entered into a Sales Agreement (the “Agreement”) with TD Securities (USA) LLC and Jefferies LLC, as agents (the “Agents”), under which the Company may offer and sell, from time to time at its sole discretion, an aggregate gross sale price of up to $250,000,000 of shares of its common stock

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284 material agreements filed in the last 30 days. Browse all material agreements →

Sable Offshore Corp. filing history →

Source: SEC EDGAR

accession 0001831481-26-000017

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