Sable Offshore (SOC)
Restores Santa Ynez offshore production, processing, and pipeline oil sales.
Something off on this page? Send us feedback.
Operates the Santa Ynez Unit, Las Flores Canyon facilities, and pipeline system in California. Revenue depends on crude oil sales from restarted offshore wells, with gas and NGL handling embedded in the same asset base.
Produces crude oil from the Santa Ynez Unit in federal waters offshore California, supported by the Las Flores Canyon processing and storage site and the Santa Ynez Pipeline System. Gas and NGL handling sit inside the same integrated asset base rather than a separate disclosed segment.
Execution centers on restarting wells, moving oil through restored pipeline infrastructure, and converting a long-idled asset package acquired from Exxon-related sellers into commercial sales. Current sales are centered on crude oil, with Chevron named as a buyer.
Business scope is concentrated in one California offshore system. Operations depend on pipeline access, PHMSA oversight, Consent Decree and related legal proceedings, commodity prices, and financing availability.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 12, 2026 | Jefferies | Target | Target: $11 | Target: $9 |
| Aug 11, 2026 | Roth Capital | Reiterate | Rating: —Target: $22 | Target: $11 |
| Jul 6, 2026 | Jefferies | Reiterate | Rating: —Target: $28 | Target: $11 |
| Jun 1, 2026 | Roth Capital | Target | Target: $26 | Target: $22 |
| Mar 5, 2026 | Jefferies | Target | Target: $38 | Target: $28 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $21.6M · Total debt $968.8M · Total assets $1.76B · Shareholders' equity $395.0M
- Revenue
- $137.1M
- Operating income
- −$66.9M
- Net income
- −$64.2M
No dividends on record.
| Institutions | 89.08% | 170.91M shares | |
|---|---|---|---|
| 291 holders · as of Jun 30, 2026 | |||
| Insiders | 2.29% | 4.40M shares | |
| 7 holders · as of May 8, 2026 | |||
| Other | 8.63% | 16.56M shares | |
| remainder | |||
191.87M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Pilgrim Global Advisors LLCInstitution | 9.49% | 18.21M | as of Jun 30, 2026 |
Encompass Capital Advisors LLCInstitution | 7.53% | 14.45M | as of Jun 30, 2026 |
Continental General Insurance CoInstitution | 7.37% | 14.14M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 5.56% | 10.67M | as of Jun 30, 2026 |
Morgan StanleyInstitution | 4.39% | 8.41M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 28, 2026 | James C. Flores | director, 10 percent owner, officer: Chairman & CEO | −71,297 | $13.33 |
| Apr 29, 2026 | James C. Flores | director, 10 percent owner, officer: Chairman & CEO | −68,792 | $13.56 |
| Apr 28, 2026 | Anthony Duenner | officer: See Remarks | −40,743 | $13.33 |
| Apr 29, 2026 | Anthony Duenner | officer: See Remarks | −39,312 | $13.56 |
| Apr 28, 2026 | Gregory D. Patrinely | officer: EVP, CFO | −40,743 | $13.33 |
- Amplify Energy
California offshore oil peer focused on Beta and Bairoil
- California Resources
Largest California-focused public oil producer and basin benchmark
- Talos Energy
Pure-play Gulf offshore E&P with oil-weighted deepwater scale
- W&T Offshore
Mature Gulf offshore operator using acquisitions and production workovers
- Murphy Oil
Diversified E&P with high-margin Gulf of America and Eagle Ford oil
- Chevron
Integrated major with California, Gulf, Permian, and global upstream scale
- Kosmos Energy
Deepwater E&P with Gulf of America production and global offshore assets
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Sable Offshore | $4.41 | +1.73% | $809.0M | — | 9.4 | 5.8 | +9,041.7% |
| Amplify Energy | $4.31 | −0.12% | $177.9M | 9.6 | 17.6 | 0.8 | −22.9% |
| California Resources | $53.41 | +1.22% | $4.68B | — | 13.0 | 1.2 | +59.0% |
| Talos Energy | $16.62 | +1.22% | $2.74B | — | 14.4 | 1.4 | +56.5% |
| W&T Offshore | $3.74 | −0.13% | $556.4M | — | — | 1.0 | +32.9% |
| Murphy Oil | $36.17 | −0.03% | $5.19B | 17.9 | 12.8 | 1.7 | +35.9% |
| Chevron | $204.17 | +0.24% | $405.85B | 19.5 | 12.9 | 1.9 | +57.9% |
| Kosmos Energy | $2.62 | −0.38% | $1.28B | — | 6.4 | 0.8 | +56.8% |
| Median | 17.9 | 12.9 | 1.2 | +56.5% |