secwatch.observer — SEC 8-K summary
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Issuer:     Sable Offshore Corp. (SOC)
CIK:        0001831481
Form:       8-K
Filed at:   2026-05-06T23:59:59+00:00
Accession:  0001831481-26-000050
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831481/000183148126000050/0001831481-26-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831481/000183148126000050/socc-20260506.htm
  HTML page:      https://secwatch.observer/filing/0001831481-26-000050

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