Sable Offshore Q1 net loss $197M; resumes oil sales under DPA

Sable Offshore Corp.

2026-Q1 EPS reported -$1.37 revenue$1,271,000

Net loss of $197.0M driven by operating expenses, non-cash interest of $34.7M, and non-cash loss on warrant liabilities of $44.2M.
Short-term debt $956.3M; cash $52.2M; accounts payable $37.7M at quarter end.
Capital expenditures $44.4M, including $21.2M one-time costs for filling pipeline segments.
ATM program raised ~$95.0M from 7.0M shares; debt refinancing expected to close Q2 2026.
Resumed sales of Santa Ynez oil under DOE Defense Production Act order.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Sable Offshore Corp. reported first quarter 2026 results: net income net loss of $197.0 million.

Period: first quarter 2026
Net income: net loss of $197.0 million
Result: reported results

Exact text from the filing

resumed sales of American oil from the Santa Ynez Unit in accordance with the Defense Production Act order from the U.S. Department of Energy. • Reported a net loss of $197.0 million, primarily driven by operating expenses associated with the resumption of oil transportation through the Santa Ynez Pipeline System (the “SYPS”) and the resumption of oil sales,

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Source: SEC EDGAR

accession 0001831481-26-000050

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