Monitor for completion of debt refinancing in Q2 2026 and first revenue recognition from Santa Ynez Unit sales. The large net loss and high debt burden suggest continued cash burn, making capital structure resolution critical.
Price Chart
Executive Summary
Sable Offshore Corp. reported Q1 2026 results with a net loss of $197.0 million, driven by operating expenses from resumed oil sales and non-cash charges. The company ended the quarter with $52.2 million cash and $956.3 million short-term debt, while working on debt refinancing. No revenue or EPS were disclosed, reflecting the early stage of operations.
Key Facts
- Net loss of $197.0 million in Q1 2026
- Short-term debt of $956.3 million
- Cash and cash equivalents of $52.2 million
- Capital expenditures of $44.4 million, including $21.2 million one-time pipeline filling costs
- ATM program raised ~$95.0 million from 7.0 million shares
- Debt refinancing discussions ongoing, expected to close in Q2 2026
Financial Impact
Net loss of $197.0 million; no revenue reported
Risk Factors
- Risk of delayed refinancing or unfavorable terms
- Continued operating losses and cash burn
- Potential dilution from ATM program
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001831481-26-000050 |
| Document: a991_1q26xpr.htm | 0001831481-26-000050 |
| Document: 0001831481-26-000050-index-headers.html | 0001831481-26-000050 |
| Document: 0001831481-26-000050-index.html | 0001831481-26-000050 |
| Document: 0001831481-26-000050.txt | 0001831481-26-000050 |
| 8-K Data (Synthetic) | 0001831481-26-000050 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 8d ago | SC 13G | $3.19 | awaiting T+60 | — | $3.07 (−3.92%) |
Oct 8, 2026 18d ago | SC 13G/A | $3.72 | awaiting T+60 | — | $3.07 (−17.61%) |
Jul 1, 2026 16w ago | 424B5 | $4.25 $3.97 | ▲ +6.59% | ▲ +9.60% | $3.07 (+27.88%) |
Jul 1, 2026 16w ago | 424B5 | $4.40 $3.97 | ▲ +9.77% | ▲ +12.73% | $3.07 (+30.34%) |
Jun 30, 2026 17w ago | 424B5 | $3.08 $4.15 | ▼ −34.74% | ▼ −31.18% | $3.07 (+0.49%) |
Jun 30, 2026 17w ago | 424B5 | $3.08 $4.15 | ▼ −34.74% | ▼ −31.18% | $3.07 (+0.49%) |
Jun 22, 2026 18w ago | 8-K | $9.37 $4.96 | ▼ −47.07% | ▼ −48.81% | $3.07 (−67.29%) |
Jun 17, 2026 18w ago | Court Ruling | $10.25 $5.17 | ▲ +49.56% | ▲ +52.71% | $3.07 (+70.10%) |
Jun 16, 2026 19w ago | 8-K | $9.99 $4.92 | ▼ −50.75% | ▼ −51.75% | $3.07 (−69.32%) |
May 6, 2026 24w ago | 8-K | $12.83 $4.82 | ▲ +62.43% | ▲ +66.26% | $3.07 (+76.11%) |
US Market Status
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