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Sable Offshore (SOC) guidance and outlook

Sable Offshore's 10-Q filed Nov 9, 2026 makes 16 forward-looking statements.

Guidance and outlook

Forward-looking statements, 10-Q filed Nov 9, 2026

• The Company expects to hedge additional volumes opportunistically as production increases.
• However, the volumes committed by these additional purchasers are currently less than the volumes historically purchased by the Company’s primary purchaser, and there can be no assurance that the Company will be able to secure sufficient additional commitments to offset the curtailed volumes.
• As a result of the curtailment of crude oil purchases by the Company’s purchaser beginning October 6, 2026, as described under “Oil Marketing” above and in Note 1 — Organization, Business Operations, and Going Concern , the Company no longer expects to achieve its previously announced guidance of average net crude oil sales of 40.0 to 45.0 thousand barrels of oil per day (“MBoe/d”) for the second half of 2026.
• The Company currently expects average net crude oil sales of 20 to 30 MBoe/d for the second half of 2026, which excludes the impact of any potential sale of the Company’s existing crude oil inventory.
• The Company expects the current sales constraints to be resolved during the fourth quarter of 2026 as the Company anticipates recommencing sales with our purchaser, initiating sales with the additional California refiners, and Platform Hondo is fully commissioned and brought online.
• The Company expects to receive the MMA’s final review and approval of the Platform Hondo instrumentation, control and safety commissioning submission and to restart Platform Hondo in November 2026.
• The Company expects to resume oil production from Platform Hondo during the fourth quarter of 2026.
• Management anticipates future increases in ad valorem taxes, in line with the restarting sales of production volumes.
• The Company expects overall operating and maintenance expenses to remain elevated relative to prior periods until all production wells are online and steady state operations is achieved.
• In early November 2026, the Company began selling crude oil to additional purchasers, and the Company anticipates that its primary purchaser will resume purchasing barrels in the near term.
• The unaudited condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty, including adjustments to the carrying amounts of assets or the classification of liabilities.
• Planned expenditures, including capital, operational and general and administrative expenses across the Company’s operations, are expected to total approximately $110.0–$120.0 million for the remainder of 2026.

Sable Offshore's latest quarter

Questions

What does Sable Offshore expect?

The Company expects to hedge additional volumes opportunistically as production increases. However, the volumes committed by these additional purchasers are currently less than the volumes historically purchased by the Company’s primary purchaser, and there can be no assurance that the Company will be able to secure sufficient additional commitments to offset the curtailed volumes. As a result of the curtailment of crude oil purchases by the Company’s purchaser beginning October 6, 2026, as described under “Oil Marketing” above and in Note 1 — Organization, Business Operations, and Going Conce

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Updated Nov 9, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.