Sable Offshore Q1 net loss widens 80% to $197.03 million; revenue swings to $1.27 million

Sable Offshore

Sable Offshore

SOC

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  • Sable Offshore posted a net loss of USD 197.03 million for the quarter ended March 31, 2026, widening 80%.
  • Revenue swung to USD 1.27 million as oil sales began late in the quarter, with 13,380 barrels sold.
  • Operating loss widened to USD 118.75 million as operating expenses climbed to USD 120.03 million, led by operations and maintenance expense of USD 68.03 million, up 98%.
  • Interest expense rose to USD 34.67 million, up 65%, while total debt stood at USD 956.3 million with USD 52.2 million of unrestricted cash.
  • Pipeline transportation through SYPS Segments 324 and 325 resumed March 14 under a Defense Production Act order; Platform Hondo is expected to start producing in June 2026, with a refinancing of the Senior Secured Term Loan targeted in the second quarter.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Sable Offshore Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001831481-26-000049), on May 06, 2026, and is solely responsible for the information contained therein.

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