Sable Offshore Corp. Announces Receipt of Emergency Special Permit from PHMSA for Santa Ynez Pipeline System Segments

Key Terms

emergency special permit regulatory

An emergency special permit is official, time-limited permission from a regulator that lets a company sell or use a medical product or technology before full formal approval during a public-health or safety crisis. It matters to investors because such permits can speed up revenue and market access but carry higher uncertainty about long-term approval, safety, and liability—like a temporary driver's license that gets you on the road quickly but still needs to be replaced by a permanent one.

phmsa regulatory

A U.S. federal agency that sets and enforces safety rules for the transport of hazardous materials and for oil and gas pipelines, acting like a traffic controller and safety inspector for trucks, trains, ships and pipes that carry dangerous goods. Investors care because its rules, inspections, permits and fines affect operating costs, project timelines, legal risk and company reputation, which in turn can influence revenues and stock value.

integrity management technical

Integrity management is the organized set of policies, inspections and actions a company uses to keep its operations, physical assets and conduct reliable, safe and compliant — like a regular maintenance schedule and rulebook that prevents breakdowns and costly mistakes. Investors care because strong integrity management lowers the chance of accidents, fines, shutdowns or reputational damage, which protects earnings and reduces the risk of sudden drops in a company’s value.

federal docket management system regulatory

A federal docket management system is an electronic platform that governments and courts use to file, organize, and publish legal and regulatory documents so each case or proceeding has a running record—like an online inbox and timeline for official filings. Investors use it to track lawsuits, regulatory actions, permits and deadlines that can affect a company’s costs, operations or share price, because timely filings often signal material risk or progress.

HOUSTON--(BUSINESS WIRE)-- Sable Offshore Corp. (the “Company”) (NYSE: SOC) today announced that on December 23, 2025, the U.S. Department of Transportation, Pipeline and Hazardous Material Safety Administration (“PHMSA”) issued an emergency special permit for segments of the interstate Santa Ynez Pipeline System (specifically segments 324 and 325), approving the Company’s implementation of enhanced integrity management practices and specifying operational conditions. The Letter of Decision approving the emergency special permit and related documents can be viewed in Docket No. PHMSA-2025-1502 in the Federal Docket Management System at https://www.regulations.gov/docket/PHMSA-2025-1502.

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 from the Santa Ynez Unit 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 Santa Ynez Unit 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. 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/20251224701550/en/

Investor Contact:

Harrison Breaud

Vice President, Finance & Investor Relations

IR@sableoffshore.com

713-579-8111

Source: Sable Offshore Corp.