SOC

Interested in Sable Offshore Corp.? Here are five stocks we like better. Sable Offshore targets a late-September restart for Platform Hondo, though restoration work is running about 50% above initial estimates due to structural and controls requirements. The company reported second-quarter exit-rate oil sales of 40,000 barrels per day after restarting Platform Heritage in April. The company completed a July refinancing featuring a $675 million Term Loan B and roughly $345 million in convertible notes, while planning a broader refinancing in 2027 after its 3P reserve report. Sable also launched hedging covering up to 29,000 barrels per day in the fourth quarter at a $65-per-barrel Brent floor. California marketing constraints are reducing realized prices, with sulfur charges, demurrage, transportation and refinery deductions creating discounts of up to $30 per barrel. Sable is pursuing additional refinery, pipeline and potential offshore buoy options, while prioritizing debt reduction before dividends or share repurchases. Sable Offshore: The Court Ruling That Changes Everything Sable Offshore (NYSE:SOC) outlined plans to restart Platform Hondo by the end of September, pursue a broader refinancing in 2027 and address near-term crude marketing constraints during its second-quarter 2026 investor update call. Chairman and Chief Executive Officer Jim Flores said the company restarted production at Platform Heritage in April and completed a refinancing in July that retired the prior ExxonMobil seller note. Sable also began a commodity hedging program during July. → SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat 3 Top-Rated Energy Companies Staging Strong Recoveries The company reported an exit-rate oil sales volume of 40,000 barrels per day during the second quarter. Flores said Sable has begun a wireline campaign intended to mitigate water influx in wells and improve production efficiency. He described Platform Hondo, which is 45 years old, as being in need of substantial restoration work but said the company remains focused on a September restart target. Executive Vice President and Chief Financial Officer Gregory Patrinely said Sable completed a bridge refinancing in early July that included a $675 million senior secured Term Loan B and approximately $345 million of convertible senior unsecured notes. → 3 Dividend Champion Utilities for a Market That Can't Sit Still The Term Loan B matures Dec. 15, 2028, and is fully amortizing, with mandatory quarterly amortization of 2.5% in the second half of 2026, increasing to 5% per quarter beginning in 2027. The loan also includes a 100% excess cash flow sweep that could accelerate repayment depending on commodity prices, Patrinely said. The convertible notes mature July 1, 2031, carry a 6.5% coupon and have an initial conversion price of $4 per share. Sable also established a $500 million revolving credit facility with a zero borrowing base, designed in part to support its hedging obligations. → Is Wingstop's Growth Story Losing Steam? Patrinely said the company expects to seek a second phase of its refinancing after issuing a full 3P reserve report, currently anticipated in the first quarter of 2027. That effort is intended to reduce borrowing costs and extend Sable’s debt maturity profile. The company has set a long-term target of one times net debt-to-EBITDA leverage. Sable’s hedging program includes costless collars covering about 26,000 barrels per day in the third quarter and 29,000 barrels per day in the fourth quarter, each with a $65-per-barrel Brent floor. The program covers 25,000 barrels per day in 2027 and 21,000 barrels per day in 2028, according to the company. Management said near-term crude marketing conditions in California have affected realized pricing and sales volumes, rather than the performance of the company’s producing wells. Patrinely said Sable has been filling its 540,000-barrel storage tanks at Las Flores Canyon while working through third-party throughput constraints. Flores said sulfur-related charges, demurrage, price differentials and transportation costs have produced discounts of as much as $30 per barrel. He said sulfur and demurrage each account for about $10 per barrel of that total. Management expects the sulfur penalty to improve as Platform Hondo returns to service, because crude from Hondo has lower sulfur content than production from the company’s western platforms. The company expects demurrage costs to remain relatively steady through the third quarter, with improvement anticipated in the fourth quarter. Flores said Sable’s guidance assumes a roughly $20-per-barrel discount going forward, consisting of approximately $3 of transportation costs and $17 of refinery-related deductions. Sable is working with Chevron and other potential refinery customers to expand crude outlets in the Los Angeles refining basin through Plains’ Line 2000. The company is also evaluating northern pipeline options, including the San Pablo Bay Pipeline. Flores said these alternatives are important before Sable begins adding drilling rigs and increasing production. Management said it is pursuing regulatory support for a potential offshore sales buoy near Platform Harmony. Flores said the project is dependent on regulatory developments rather than market signals, although he said waterborne marketing could offer materially improved economics and additional flexibility. If approvals are obtained, the company expects engineering to take four to six months and procurement another six to nine months, potentially supporting installation in summer 2028. Flores said work at Platform Hondo has exceeded initial expectations, with about 50% more work than anticipated because of additional structural needs. He said the platform’s controls also require a complete replacement, unlike Platforms Harmony and Heritage, where controls primarily needed updates. Hondo also handles Sable’s gas sales. The company said it expects a lower steady-state cost structure in 2027 as restart-related contract labor and other temporary spending decline. Patrinely said 2027 guidance is intended to reflect a more fully ramped operating profile, while excluding potential benefits from waterborne marketing, chemical treatments intended to lower sulfur content and other marketing improvements. Sable’s capital spending is limited by the Term Loan B to $100 million annually in 2027 and 2028 unless the company obtains a waiver or refinances. The agreement includes a separate $150 million carveout for a potential buoy project. Flores said capital plans for 2028 would otherwise resemble the company’s 2026 and 2027 program, focused on well additions and related work. Management said it plans to prioritize debt reduction before returning capital to shareholders. Flores said a dividend could be considered first once the balance sheet is in a more regular position, followed by potential share repurchases depending on oil prices and board decisions. Sable Offshore (NYSE:SOC) is an independent upstream oil and natural gas company specializing in offshore hydrocarbon exploration and production. The company identifies and secures exploration and development rights, conducts detailed seismic interpretation, and advances offshore prospects through appraisal and development phases. Its focus on the offshore environment drives investments in specialized drilling techniques, subsea infrastructure and production facility design. Core business activities include offshore seismic surveys, the drilling of exploration and appraisal wells, installation and operation of production platforms or subsea systems, and well intervention services. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Sable Offshore Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Sable Offshore Corp. (SOC) came out with quarterly earnings of $0.05 per share, missing the Zacks Consensus Estimate of $0.21 per share. This compares to a loss of $1.1 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -76.19%. A quarter ago, it was expected that this company would post a loss of $0.64 per share when it actually produced a loss of $1.37, delivering a surprise of -114.06%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. SABLE OFFSHORE, which belongs to the Zacks Oil and Gas - Integrated - United States industry, posted revenues of $137.13 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 39.65%. This compares to zero revenues a year ago. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. SABLE OFFSHORE shares have lost about 47.3% since the beginning of the year versus the S&P 500's gain of 13.3%. While SABLE OFFSHORE has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for SABLE OFFSHORE was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.19 on $246.6 million in revenues for the coming quarter and -$0.36 on $725.5 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Integrated - United States is currently in the bottom 18% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Prairie Operating Co. (PROP), has yet to report results for the quarter ended June 2026. This company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of -88.9%. The consensus EPS estimate for the quarter has been revised 3% lower over the last 30 days to the current level. Prairie Operating Co.'s revenues are expected to be $108.22 million, up 58.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sable Offshore Corp. (SOC) : Free Stock Analysis Report Prairie Operating Co. (PROP) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

HOUSTON, August 10, 2026--(BUSINESS WIRE)--Sable Offshore Corp. ("Sable," or the "Company") (NYSE: SOC) today announced its second quarter 2026 financial and operational results. Second Quarter 2026 Financial Results Achieved $137.1 million in total revenue and generated $9.4 million of positive cash flows from operating activities in the second quarter of 2026, representing the first full quarter of revenue generation and positive operating cash flow since inception. Reported average daily net sales volumes of approximately 21 thousand barrels of oil per day while the Company increased production and worked through midstream constraints. Exited the second quarter with oil sales of approximately 40 thousand net barrels of oil per day, representing a 149% entry to exit oil sales growth rate compared to the first day of the quarter. Reported $39.4 million of capital expenditures in the second quarter. Ended the quarter with 154,531,910 shares of Common Stock outstanding. Financial Updates Completed refinancing transactions on July 2, 2026, the proceeds of which were used to repay the former EM Senior Secured Term Loan and extend our maturity runway to year-end 2028. $675.0 million Senior Secured Term Loan B (the "TLB") due December 15, 2028. The TLB has a 15.0% annual coupon, quarterly mandatory amortization payments of 2.5% per quarter in 2H 2026 increasing to 5.0% per quarter in 2027 and beyond, and 100% quarterly excess cash flow sweep. $345.0 million 6.5% Convertible Senior Notes due July 1, 2031. The Convertible Senior Notes have a $4.00/share initial conversion price. $115.0 million of Common Stock issued at a share price of $3.08/share. $500.0 million Senior Revolving Credit Facility (the "RCF") designed for commodity hedging purposes. The RCF has a borrowing base of $0 and matures on December 15, 2028 alongside the TLB. Commenced commodity hedging program with $65/Bbl Brent floor prices and fulfilled post-closing requirements of the TLB. We expect to opportunistically hedge additional volumes as production ramps up. No ATM equity sales have occurred in Q3 2026 to date. Second Quarter 2026 Operational Results Produced at an average rate of 723 barrels of oil per day, per well, throughout the quarter from an average of 35 producing wells per day. An average of approximately 39 wells were online throughout the month of June 2026, representing a 50% increase over approximately 26 wells online on average in April 2026. Las Flores Canyon crude oil inventory grew 49% in the quarter from 212,390 to 316,495 barrels. Crude oil in inventory as of August 9, 2026 was approximately 224,000 barrels. Progressed field operations at the Santa Ynez Unit ("SYU"), the Las Flores Canyon Midstream Processing Facility ("LFC"), and the Santa Ynez Pipeline System ("SYPS") towards steady state operations. Resumed oil production from Platform Heritage in early April 2026. Operational Updates July 2026 preliminary oil sales estimate of approximately 38,000 gross barrels of oil per day. August 2026 oil sales average to date is approximately 42,000 gross barrels of oil per day through August 9th. In July 2026, an average of approximately 47 wells at Platforms Harmony and Heritage were online, producing an average of approximately 721 gross barrels of oil per day per well. Sable expects to bring all 77 production wells on these two platforms online during the third quarter of 2026 and expects Platform Hondo to come online in September 2026. Wireline campaign for Perforation Additions ("Perf Adds") and producing well optimization at Platform Harmony commenced in August 2026. Five completed Perf Adds forecasted to produce an incremental 600 estimated gross barrels of oil per day, each, are expected to come online at Platform Hondo along with the restart of the platform in September 2026. An additional four Perf Adds at Platform Hondo forecasted to produce an incremental estimated 600 gross barrels of oil per day are planned for completion and to be brought online in early Q4 2026. Midstream and Brent Crude Oil Marketing Update Due to the California regulatory environment, local refineries were not able to plan in advance for SYU first sales and ultimately were forced to displace various imported cargos in the second quarter. As a result, Sable incurred $18.5 million of non-recurring demurrage charges throughout the quarter, recognized in operational expenses. The sudden supply influx of Pacific Outer Continental Shelf ("Pacific OCS") crude has forced refiners to temporarily limit throughput of Pacific OCS crude and charge quality deducts for sulfur content and other items. Platform Hondo is expected to produce lower sulfur content oil, which should bring field-wide sulfur content to normal levels upon planned restart in September 2026. Chemical-based solutions are expected to be tested in Q4 2026 that would potentially sweeten SYU crude production and lower sulfur content with full implementation anticipated in 2027. Starting in July 2026, Sable was temporarily constrained to a maximum of 40,000 average gross barrels of oil per day of oil sales throughput by downstream partners. We expect this short-term constraint to be alleviated starting in the back half of August. California refineries are expected to adjust their crude oil supply slate starting in September 2026 to begin accepting more Pacific OCS barrels from the SYU and less imported barrels, alleviating the SYU throughput constraint altogether. Sable is also in active negotiations to implement waterborne crude oil marketing solutions from existing marine terminals in the Los Angeles area in the near-term in order to improve marketing optionality. Additionally, the pending acquisition of the Crimson Utilities (San Pablo Bay Pipeline) pipeline network by a third party could provide further relief and marketing optionality to California oil producers with access to the San Francisco refinery market once that pipeline potentially restarts operations. Guidance Reduced 2H 2026E midpoint capex by 41% to $85 million. Planned capex reductions are intended to optimize cash flow and accelerate debt amortization. Increased 2027 expected oil ratio to approximately 100% from prior midpoint of 91% due to the deferral of POPCO gas plant capital items and stronger than anticipated oil cut from producing wells. In light of the short-term midstream throughput constraints and widened differentials, Sable’s 2H 2026 capex budget is focused on maintaining asset integrity, maximizing midstream throughput, executing high return Perf Adds, and well optimization work. FY 2027E guidance reflects the expected normalization of fully ramped, post-restart operations. Brent Crude Oil Hedging Management Commentary Chairman and Chief Executive Officer, Jim Flores said, "The Sable team was able to make strong progress in ramping up operations in the second quarter. We are encouraged by the productivity of the wells at the SYU with their higher than expected production with minimal to no observable decline." He continued, "Through the various solutions we have identified, we look forward to working with our midstream and downstream partners to maximize the amount of domestic crude oil from the SYU getting to market for the benefit of California consumers and the U.S. Military and its allies globally." About Sable Sable Offshore Corp. is an independent oil and gas company, headquartered in Houston, Texas, focused on responsibly developing the Santa Ynez Unit in federal waters offshore California. The Sable team has extensive experience safely operating in California. Forward-Looking Statements The information in this press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," "continue," "plan," "forecast," "predict," "potential," "future," "outlook," and "target," the negative of such terms and other similar expressions are intended to identify forward- looking statements, although not all forward-looking statements will contain such identifying words. These statements are based on the current beliefs and expectations of Sable’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Factors that could cause Sable’s actual results to differ materially from those described in the forward-looking statements include: the ability to recommence full production of the SYU assets; the cost and time required therefor, and production levels once recommenced; availability of future financing; restrictions in existing or future debt agreements or structured or other financing arrangements; uncertainties related to new technologies, geographical concentration of operations, environmental risks, weather risks, security risks, drilling and other operating risks, regulatory changes and regulatory risks, including risks relating to PHMSA’s regulatory oversight of the SYPS, the DPA Order and the potential implementation of the OS&T Strategy or the Buoy Strategy; our ability to consummate a debt refinancing of our Senior Secured Term Loan B and the timing and terms thereof; our financial performance; global economic conditions and inflation; increased operating costs; lack of availability of drilling and production equipment, supplies, services and qualified personnel; geographical concentration of operations; environmental and weather risks; regulatory changes and uncertainties; litigation, complaints and/or adverse publicity; privacy and data protection laws, privacy or data breaches, or loss of data; our ability to comply with laws and regulations applicable to our business; and other one-time events and other factors that can be found in Sable’s Annual Report on Form 10-K for the year ended December 31, 2025, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, filed with the Securities and Exchange Commission, which are available on Sable’s website (www.sableoffshore.com) and on the Securities and Exchange Commission’s website (www.sec.gov). Except as required by applicable law, Sable undertakes no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this press release. View source version on businesswire.com: https://www.businesswire.com/news/home/20260809336520/en/ Contacts Investor Contact:Harrison BreaudVice President, Finance & Investor [email protected] 713-579-8111

HOUSTON, May 06, 2026--(BUSINESS WIRE)--Sable Offshore Corp. ("Sable," or the "Company")(NYSE: SOC) today announced its first quarter 2026 financial results. First Quarter 2026 Financial Highlights Successfully 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, as well as general and administrative expenses, non-cash interest expense of $34.7 million, and a non-cash loss on the change in fair value of warrant liabilities of $44.2 million. Concluded the quarter with short-term outstanding debt of $956.3 million, inclusive of paid-in-kind interest. Ended the quarter with cash and cash equivalents balance of $52.2 million and accounts payable balance of $37.7 million. Capital Expenditures incurred in the first quarter were approximately $44.4 million, including $21.2 million in one-time costs attributable to filling Segments 324 and 325 of the SYPS, of which $6.5 million was non-cash. Cash payments for capital expenditures totaled $21.1 million for the first quarter of 2026. Ended the quarter with 150,321,586 shares of Common Stock outstanding. To date, Sable has sold 7,000,634 shares of its common stock for gross proceeds of approximately $95.0 million through its ATM common stock issuance program. Sable continues to progress discussions related to the debt refinancing of its Senior Secured Term Loan, expected to be completed in Q2 2026. About Sable Sable Offshore Corp. is an independent oil and gas company, headquartered in Houston, Texas, focused on responsibly developing the Santa Ynez Unit in federal waters offshore California. The Sable team has extensive experience safely operating in California. Forward-Looking Statements The information in this press release include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," "continue," "plan," "forecast," "predict," "potential," "future," "outlook," and "target," the negative of such terms and other similar expressions are intended to identify forward- looking statements, although not all forward-looking statements will contain such identifying words. These statements are based on the current beliefs and expectations of Sable’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Factors that could cause Sable’s actual results to differ materially from those described in the forward-looking statements include: the ability to recommence full production of the SYU assets; the cost and time required therefor, and production levels once recommenced; availability of future financing; our ability to consummate a debt refinancing of our Senior Secured Term Loan and the timing and terms thereof; our financial performance; global economic conditions and inflation; increased operating costs; lack of availability of drilling and production equipment, supplies, services and qualified personnel; geographical concentration of operations; environmental and weather risks; regulatory changes and uncertainties; litigation, complaints and/or adverse publicity; privacy and data protection laws, privacy or data breaches, or loss of data; our ability to comply with laws and regulations applicable to our business; and other one-time events and other factors that can be found in Sable’s Annual Report on Form 10-K for the year ended December 31, 2025, which is filed with the Securities and Exchange Commission and is available on Sable’s website (www.sableoffshore.com) and on the Securities and Exchange Commission’s website (www.sec.gov). Except as required by applicable law, Sable undertakes no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this press release. View source version on businesswire.com: https://www.businesswire.com/news/home/20260505744912/en/ Contacts Investor Contact: Harrison Breaud Vice President, Finance & Investor Relations [email protected] 713-579-8111

HOUSTON, February 27, 2026--(BUSINESS WIRE)--Sable Offshore Corp. ("Sable," or the "Company")(NYSE: SOC) today announced its full year 2025 operational and financial results. 2025 Operational and Financial Highlights On May 19, 2025, we announced that (i) as of May 15, 2025, we had restarted production at the Santa Ynez Unit and begun flowing oil production to Las Flores Canyon and (ii) we completed our anomaly repair program on Pipeline Segments 324 and 325 of the Santa Ynez Pipeline System as specified by the Consent Decree. On May 23, 2025, we closed an upsized underwritten public offering of 10,000,000 shares of Common Stock at a public offering price of $29.50 per share. The gross proceeds from the offering, before deducting discounts and commissions and estimated expenses, were approximately $295.0 million. On May 28, 2025, we announced that we successfully completed hydrotests of all segments of the Santa Ynez Pipeline System, satisfying the final operational condition to resume petroleum transportation through Pipeline Segments 324 and 325 as outlined in the Consent Decree. As an alternative to the Santa Ynez Pipeline System, we announced that we are also pursuing an OS&T strategy to provide access to domestic and global markets via shuttle tankers for federal crude oil produced from the Santa Ynez Unit in the Pacific Outer Continental Shelf Area. On November 10, 2025, we entered into subscription agreements to issue 45,454,546 shares of Common Stock in a private placement to institutional investors at a purchase price of $5.50 per share, raising $250.0 million in gross proceeds. On November 24, 2025, we satisfied all conditions to effectiveness of the Second Amendment to the Senior Secured Term Loan, thereby extending the maturity date of the Senior Secured Term Loan to the earlier of (i) March 31, 2027 or (ii) the date falling 90 days after first sales of hydrocarbons. The Second Amendment increased the interest rate from ten percent (10%) per annum to fifteen percent (15%) per annum, compounded annually. On December 17, 2025, PHMSA notified us that it concurred with our determination that the Santa Ynez Pipeline System is an interstate pipeline facility under the Pipeline Safety Act, pursuant to which PHMSA is vested with exclusive regulatory authority over interstate pipelines. In its notification, PHMSA additionally states that it considers the Santa Ynez Pipeline System to be an "active" pipeline according to PHMSA regulations. On December 23, 2025, PHMSA issued an emergency special permit for segments of the interstate Santa Ynez Pipeline System (specifically Pipeline Segments 324 and 325), related to cathodic protection and seam weld corrosion along Pipeline Segments 324 and 325. We reported a net loss of $410.2 million, primarily attributable to production restart related operating expenses, general & administrative expenses, and non-cash interest expense, partially offset by a non-cash change in fair value of warrant liabilities. We ended the year with short-term outstanding debt of $921.6 million, inclusive of paid-in-kind interest, and a cash and cash equivalents balance of $97.7 million. About Sable Sable Offshore Corp. is an independent oil and gas company, headquartered in Houston, Texas, focused on responsibly developing the Santa Ynez Unit in federal waters offshore California. The Sable team has extensive experience safely operating in California. Forward-Looking Statements The information in this press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," "continue," "plan," "forecast," "predict," "potential," "future," "outlook," and "target," the negative of such terms and other similar expressions are intended to identify forward- looking statements, although not all forward-looking statements will contain such identifying words. These statements are based on the current beliefs and expectations of Sable’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Factors that could cause Sable’s actual results to differ materially from those described in the forward-looking statements include: the ability to recommence sales of oil from the Santa Ynez Unit assets, including the potential implementation of an Offshore Storage and Treating Vessel ("OS&T") strategy, the cost and time required therefor, and production levels once recommenced; availability of future financing; global economic conditions and inflation; increased operating costs; lack of availability of drilling and production equipment, supplies, services and qualified personnel; geographical concentration of operations; environmental and weather risks; regulatory changes and uncertainties; litigation, complaints and/or adverse publicity; privacy and data protection laws, privacy or data breaches, or loss of data; our ability to comply with laws and regulations applicable to our business; and other one-time events and other factors that can be found in Sable’s Annual Report on Form 10-K for the year ended December 31, 2025, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are filed with the Securities and Exchange Commission and are available on Sable’s website (www.sableoffshore.com) and on the Securities and Exchange Commission’s website (www.sec.gov). Except as required by applicable law, Sable undertakes no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this press release. Disclaimers The Santa Ynez Unit assets restarted production in May 2025. Sable has not sold commercial quantities of hydrocarbons since acquisition of the Santa Ynez Unit. The Santa Ynez Unit was shut in during June of 2015 when the only onshore pipeline transporting hydrocarbons produced from the Santa Ynez Unit to market ceased transportation. Since the May 2025 production restart, the oil produced has been transported via pipeline to storage tanks onshore at Sable’s Las Flores Canyon processing facility where it is being stored pending resumed petroleum transportation through the Santa Ynez Pipeline System or an OS&T vessel. There can be no assurance that the necessary approvals will be obtained that would allow the Company to recommence sales. View source version on businesswire.com: https://www.businesswire.com/news/home/20260227076859/en/ Contacts Investor Contact: Harrison Breaud Vice President, Finance & Investor Relations [email protected] 713-579-8111

HOUSTON, November 13, 2025--(BUSINESS WIRE)--Sable Offshore Corp. ("Sable," or the "Company")(NYSE: SOC) today announced its third quarter 2025 operational and financial results. Third Quarter 2025 Financial Highlights Reported a net loss of $110.4 million, primarily attributable to production restart-related operating expenses and non-cash interest expense, partially offset by a non-cash gain in the fair value of warrant liabilities. Ended the quarter with 99,507,250 shares of Common Stock outstanding. Concluded the quarter with short-term outstanding debt of $896.6 million, inclusive of paid-in-kind interest. Ended the quarter with cash and cash equivalents balance of $41.6 million. About Sable Sable Offshore Corp. is an independent oil and gas company, headquartered in Houston, Texas, focused on responsibly developing the Santa Ynez Unit in federal waters offshore California. The Sable team has extensive experience safely operating in California. Forward-Looking Statements The information in this press release include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," "continue," "plan," "forecast," "predict," "potential," "future," "outlook," and "target," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements will contain such identifying words. These statements are based on the current beliefs and expectations of Sable’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Factors that could cause Sable’s actual results to differ materially from those described in the forward-looking statements include: the ability to recommence full production of the SYU assets, including the implementation of an Offshore Storage and Treating Vessel ("OS&T") strategy; our ability to recommence sales of oil, the cost and time required therefor, and production levels once recommenced; availability of future financing; our financial performance; our ability to satisfy the closing conditions for effectiveness of the Amendment to our Senior Secured Term Loan Agreement; global economic conditions and inflation; increased operating costs; lack of availability of drilling and production equipment, supplies, services and qualified personnel; geographical concentration of operations; environmental and weather risks; regulatory changes and uncertainties; litigation, complaints and/or adverse publicity; privacy and data protection laws, privacy or data breaches, or loss of data; our ability to comply with laws and regulations applicable to our business; and other one-time events and other factors that can be found in Sable’s Annual Report on Form 10-K for the year ended December 31, 2024, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are filed with the Securities and Exchange Commission and are available on Sable’s website (www.sableoffshore.com) and on the Securities and Exchange Commission’s website (www.sec.gov). Except as required by applicable law, Sable undertakes no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this press release. Disclaimers The Santa Ynez Unit assets discussed in this press release restarted production in May 2025 and have not sold commercial quantities of hydrocarbons since such Santa Ynez Unit assets were shut in during June of 2015 when the only onshore pipeline transporting hydrocarbons produced from such Santa Ynez Unit assets to market ceased transportation. Since the May 2025 production restart, the oil produced has been transported via pipeline to storage tanks onshore at Sable’s Las Flores Canyon processing facility where it is being stored pending resumed petroleum transportation through an OS&T vessel or the Las Flores Pipeline System. There can be no assurance that the necessary approvals will be obtained that would allow the use of an OS&T vessel or the Las Flores Pipeline System to recommence sales. View source version on businesswire.com: https://www.businesswire.com/news/home/20251113634609/en/ Contacts Investor Contact: Harrison Breaud Vice President, Finance & Investor Relations [email protected] 713-579-8111

HOUSTON, August 12, 2025--(BUSINESS WIRE)--Sable Offshore Corp. ("Sable," or the "Company")(NYSE: SOC) today announced its second quarter 2025 operational and financial results. Second Quarter 2025 Operational Highlights On May 19, 2025, the Company announced that as of May 15, 2025, it had restarted production at the Santa Ynez Unit ("SYU") and begun flowing oil production to Las Flores Canyon. Additionally, on May 19, 2025 the Company announced that it completed its anomaly repair program on the Las Flores Pipeline System (the "Onshore Pipeline") as specified by the Consent Decree, the governing document for the restart and operations of the Onshore Pipeline. On May 28, 2025 Sable announced that it successfully completed hydrotests of all segments of the Onshore Pipeline, satisfying the final operational condition for the restart of the Onshore Pipeline as outlined in the Consent Decree. Sable flowed approximately 130,000 barrels of oil from Platform Harmony into storage at Las Flores Canyon during Q2 2025. Subsequently, Sable flowed an additional ~220,000 barrels of oil into storage at Las Flores Canyon as of August 8, 2025. SYU wells on Platform Harmony continue to produce in line with previously disclosed production rates. Second Quarter 2025 Financial Highlights On May 23, 2025 the Company announced the closing of an upsized underwritten public offering of 10,000,000 shares of Common Stock at the public offering price of $29.50 per share, providing $282.6 million of proceeds, net of fees and expenses. Reported a net loss of $128.1 million, primarily attributable to production restart related operating expenses and non-cash interest expense, partially offset by a non-cash gain in the fair value of warrant liabilities. Ended the quarter with 99,482,250 shares of Common Stock outstanding. Concluded the quarter with short-term outstanding debt of $875.6 million, inclusive of paid-in-kind interest, additional principal incurred from the debt amendment, and debt issuance costs. Ended the quarter with cash and cash equivalents balance of $247.1 million, exclusive of restricted cash balance of $35.6 million. Updated Guidance Sable expects to recommence oil sales upon restart of the Onshore Pipeline in September 2025. About Sable Sable Offshore Corp. is an independent oil and gas company, headquartered in Houston, Texas, focused on responsibly developing the Santa Ynez Unit in federal waters offshore California. The Sable team has extensive experience safely operating in California. Forward-Looking Statements The information in this press release include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," "continue," "plan," "forecast," "predict," "potential," "future," "outlook," and "target," the negative of such terms and other similar expressions are intended to identify forward- looking statements, although not all forward-looking statements will contain such identifying words. These statements are based on the current beliefs and expectations of Sable’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Factors that could cause Sable’s actual results to differ materially from those described in the forward-looking statements include: the ability to recommence sales from the SYU assets and the cost and time required therefor; global economic conditions and inflation; increased operating costs; lack of availability of drilling and production equipment, supplies, services and qualified personnel; geographical concentration of operations; environmental and weather risks; regulatory changes and uncertainties; litigation, complaints and/or adverse publicity; privacy and data protection laws, privacy or data breaches, or loss of data; our ability to comply with laws and regulations applicable to our business; and other one-time events and other factors that can be found in Sable’s Annual Report on Form 10-K for the year ended December 31, 2024, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are filed with the Securities and Exchange Commission and are available on Sable’s website (www.sableoffshore.com) and on the Securities and Exchange Commission’s website (www.sec.gov). Except as required by applicable law, Sable undertakes no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this press release. Disclaimers The SYU assets discussed in this press release have not sold commercial quantities of hydrocarbons since such SYU assets were shut in during June of 2015 when the only Onshore Pipeline transporting hydrocarbons produced from such SYU assets to market ceased transportation. There can be no assurance that the necessary approvals will be obtained that would allow the Onshore Pipeline to recommence transportation and allow the SYU assets to recommence sales. View source version on businesswire.com: https://www.businesswire.com/news/home/20250811630512/en/ Contacts Investor Contact: Harrison Breaud Vice President, Finance & Investor Relations [email protected] 713-579-8111

HOUSTON, May 09, 2025--(BUSINESS WIRE)--Sable Offshore Corp. ("Sable," or the "Company")(NYSE: SOC) today announced its first quarter 2025 financial and operational results. First Quarter 2025 Financial Highlights Reported a net loss of $109.5 million, primarily attributable to production restart related operating expenses, non-cash interest expense, and a non-cash change in fair value of warrant liabilities. Ended the quarter with 89,338,358 shares of Common Stock outstanding. Concluded the quarter with outstanding debt of $854.6 million, inclusive of paid-in-kind interest, additional principal incurred from the debt amendment, and debt issuance costs. Ended the quarter with cash and cash equivalents balance of $189.0 million, exclusive of restricted cash balance of $35.5 million. About Sable Sable Offshore Corp. is an independent oil and gas company, headquartered in Houston, Texas, focused on responsibly developing the Santa Ynez Unit in federal waters offshore California. The Sable team has extensive experience safely operating in California. Forward-Looking Statements The information in this press release include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," "continue," "plan," "forecast," "predict," "potential," "future," "outlook," and "target," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements will contain such identifying words. These statements are based on the current beliefs and expectations of Sable’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Factors that could cause Sable’s actual results to differ materially from those described in the forward-looking statements include: the ability to recommence production of the SYU assets and the cost and time required therefor; global economic conditions and inflation; increased operating costs; lack of availability of drilling and production equipment, supplies, services and qualified personnel; geographical concentration of operations; environmental and weather risks; regulatory changes and uncertainties; litigation, complaints and/or adverse publicity; privacy and data protection laws, privacy or data breaches, or loss of data; our ability to comply with laws and regulations applicable to our business; and other one-time events and other factors that can be found in Sable’s Annual Report on Form 10-K for the year ended December 31, 2024, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are filed with the Securities and Exchange Commission and are available on Sable’s website (www.sableoffshore.com) and on the Securities and Exchange Commission’s website (www.sec.gov). Except as required by applicable law, Sable undertakes no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this press release. Disclaimers Non-Producing Assets The SYU assets have not produced commercial quantities of hydrocarbons since such assets were shut in during June of 2015 when the only pipeline transporting hydrocarbons produced from such assets to market ceased operations. There can be no assurance that the necessary permits will be obtained that would allow the pipeline to recommence transportation and allow the assets to recommence production. If Restart Production is not achieved by March 1, 2026, the terms of the asset acquisition with ExxonMobil Corporation would potentially result in the assets being reverted to ExxonMobil Corporation without any compensation to Sable therefor. View source version on businesswire.com: https://www.businesswire.com/news/home/20250508855240/en/ Contacts Investor Contact: Harrison Breaud Vice President, Finance & Investor Relations [email protected] 713-579-8111