---
schema_version: "secwatch.filing_event.v1"
accession: "0001831481-26-000028"
form_type: "8-K"
ticker: "SOC"
cik: "0001831481"
company_name: "Sable Offshore Corp."
filed_at: "2026-02-27T23:59:59+00:00"
generated_at: "2026-05-15T23:10:27.650065+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Sable Offshore reports FY 2025 net loss of $410.2M; cash $97.7M vs debt $921.6M

## Summary
- Net loss of $410.2M; driven by restart costs, G&A, non-cash interest, partially offset by warrant liability fair value change.
- May 2025 production restart at Santa Ynez Unit; hydrotests completed; PHMSA deemed pipeline interstate and active.
- Closed $295M public offering (10M shares at $29.50) in May and $250M private placement ($5.50/share) in Nov 2025.
- Extended term loan maturity to March 2027; interest rate rose from 10% to 15% compounded annually.
- PHMSA issued emergency special permit for Pipeline Segments 324/325; company also pursuing OS&T shuttle tanker strategy.

## SEC filing metadata
- accession: 0001831481-26-000028
- form_type: 8-K
- ticker: SOC
- cik: 0001831481
- company_name: Sable Offshore Corp.
- filed_at: 2026-02-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1831481/000183148126000028/0001831481-26-000028-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831481/000183148126000028/socc-20260227.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001831481-26-000028
- JSON: https://secwatch.observer/filing/0001831481-26-000028.json
- Plain text: https://secwatch.observer/filing/0001831481-26-000028.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.