Sable Offshore Faces Losses Amid Strategic Advancements

Sable Offshore ( (SOC) ) has issued an announcement.

Sable Offshore Corp. reported a net loss of $255.6 million in Q3 2024, influenced by warrant liabilities and production-related expenses. Despite this, the company raised substantial equity capital and increased cash reserves, while also progressing in operational initiatives like safety valve installations and gas compressor overhauls. Recent approvals and lease confirmations strengthen their position in the Santa Ynez Unit, although production challenges remain due to historical pipeline issues.

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