The Sable Offshore Corp. (SOC) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures, including current reports on Form 8-K and other documents filed with the U.S. Securities and Exchange Commission. These filings offer detailed information about Sable’s operations as an independent oil and gas company focused on the Santa Ynez Unit in federal waters offshore California, as well as the financing, regulatory and legal factors that influence its business.
Through recent Form 8-K filings, Sable has reported material events such as amendments to its Senior Secured Term Loan with Exxon Mobil Corporation, including changes to maturity dates, interest terms and liquidity covenants. Other filings describe the completion of a private placement of common stock to institutional investors and how those proceeds relate to conditions for the effectiveness of the term loan amendment. Investors can review these documents to understand the company’s capital structure, debt obligations and equity financing activities.
Sable’s SEC filings also summarize key regulatory developments affecting its pipeline systems and transportation strategy. The company has furnished information on PHMSA’s confirmation that its pipeline connecting the Santa Ynez Unit to the Pentland Station terminal in Kern County, California is an interstate pipeline facility and is considered active under PHMSA regulations. Additional filings report PHMSA’s approval of Sable’s Restart Plan for the Las Flores Pipeline System and the issuance of an emergency special permit for segments of the Santa Ynez Pipeline System, which addresses enhanced integrity management practices and operational conditions.
Legal and regulatory disputes are another focus of Sable’s disclosures. Filings reference litigation with the California Coastal Commission, inverse condemnation claims and declaratory judgment actions related to state law and the Las Flores Pipeline System. They also discuss a Purchase and Sale Agreement with Exxon Mobil Corporation that includes a plugging and abandonment bonding obligation for the Santa Ynez Unit, and a Fifth Amendment that extends the timing of that obligation. On Stock Titan, these filings are accompanied by AI-powered summaries that highlight key terms, dates and obligations, helping users quickly understand the significance of each document, from financing agreements and regulatory correspondence to operational updates and legal proceedings.
Sable Offshore Corp. (SOC) said Platform Hondo reconstruction and internal operational commissioning are complete. It anticipates the Marine Minerals Administration’s final review and approval of the instrumentation, control and safety commissioning submission in October 2026; additional testing and commissioning are also expected then, while restart is expected in Q4 2026. Sable plans four additional Perf Add operations before restart, expected to bring completed additions to 9 of 15 production wells, versus five previously expected. Each operation is estimated to add approximately 600 barrels of oil per day at a cost of approximately $800,000.
Las Flores Canyon’s current processing is approximately 80% of the productive capacity of Platforms Harmony and Heritage. Planned facility upgrades are expected to let the facility handle production from all three Santa Ynez Unit platforms at full productive capacities. July and August oil sales averaged approximately 32 thousand gross barrels per day; September sales are expected to be approximately 34 thousand. October nominations are expected to average 38 thousand gross barrels per day, with an estimated exit rate of approximately 45 thousand before Hondo volumes.
Sable Offshore Corp. (SOC) received an amended Schedule 13G indicating that Morgan Stanley and an affiliate have reduced their beneficial ownership of the company’s common stock to a small, sub-5% position. Morgan Stanley now reports beneficial ownership of 2,149,433 shares, representing 1.1% of the common stock, with no sole voting or dispositive power.
Morgan Stanley Capital Services LLC reports beneficial ownership of 1,595,078 shares, representing 0.8% of the common stock, all with shared voting and dispositive power. Both reporting persons state that, as of the filing date, they have ceased to be beneficial owners of more than five percent of this class of securities.
Sable Offshore Corp. (SOC) reports a comprehensive federal court order resolving multiple disputes over its Santa Ynez Pipeline System. The court kept Sable bound to the prior Plains consent decree but modified it so that federal PHMSA, not California’s Office of the State Fire Marshal, now oversees Sable’s onshore pipeline compliance, and Plains is relieved of ongoing obligations.
The court held that Sable violated the consent decree by restarting the onshore pipelines without California authorization and imposed a $1.449 million stipulated penalty payable to California, but declined to order a shutdown because PHMSA has since approved Sable’s restart plan. In a related case, the court denied California’s motion for a preliminary injunction attacking the federal Defense Production Act (DPA) order that directed Sable to restart, finding California had not shown even serious questions on the merits. The court also declared that the DPA order bars California’s Parks Department from using state-law actions, including trespass claims, to stop Sable’s operation of the onshore segments, and noted that, under collateral estoppel, state courts may not apply state laws that would burden Sable’s compliance with the DPA order. Several parties, including California, have filed notices of appeal, so further legal proceedings remain possible.
Sable Offshore Corp. has a significant shareholder group led by Two Seas Capital LP, Two Seas Capital GP LLC, and individual investor Sina Toussi. These reporting persons collectively report beneficial ownership of 8,377,636 shares of Sable Offshore common stock as of June 30, 2026. This position represents 5.4% of the outstanding common stock, based on 154,531,910 shares outstanding. The shares are held by Two Seas Global (Master) Fund LP, for which Two Seas Capital LP acts as investment adviser, Two Seas Capital GP LLC as its general partner, and Sina Toussi as chief investment officer and managing member. The reporting persons state they have sole voting and dispositive power over these shares and no shared voting or dispositive power.
Morgan Stanley and its subsidiary Morgan Stanley Capital Services LLC report significant beneficial ownership of Sable Offshore Corp. common stock. Morgan Stanley reports beneficial ownership of 12,200,996 shares, representing 7.9% of the class, with 11,714,934 shares subject to shared voting power and all 12,200,996 shares subject to shared dispositive power, and no sole voting or dispositive power. Morgan Stanley Capital Services LLC reports beneficial ownership of 8,438,812 shares, representing 5.5% of the class, with shared voting and shared dispositive power over the same 8,438,812 shares and no sole powers. The filing notes that it reflects only securities beneficially owned, or deemed beneficially owned, by specified Morgan Stanley reporting units, with other operating units potentially disaggregated under SEC guidance.
Capital International Investors, a division of Capital Research and Management Company and affiliated investment management entities, reports beneficial ownership of Sable Offshore Corp. common stock. The group is deemed to beneficially own 6,111,898 shares of common stock, representing 4.0% of the class, based on 154,362,910 shares believed to be outstanding.
Capital International Investors has sole voting power and sole dispositive power over all 6,111,898 shares, with no shared voting or dispositive power reported. The filing indicates ownership of 5 percent or less of the common stock class.
Sable Offshore Corp. reported its first full quarter of revenue generation and positive operating cash flow since inception, posting $137.1 million in total revenue and $9.4 million of cash from operating activities for the second quarter of 2026. Average daily net oil sales were about 21 thousand barrels per day, exiting the quarter at roughly 40 thousand net barrels per day, a 149% entry-to-exit oil sales growth rate, while capital expenditures totaled $39.4 million. The company ended the quarter with 154,531,910 common shares outstanding.
On July 2, 2026, Sable completed a major refinancing: a $675.0 million Senior Secured Term Loan B due December 15, 2028 with a 15.0% annual coupon, step-up quarterly amortization and a 100% excess cash flow sweep; $345.0 million of 6.5% Convertible Senior Notes due July 1, 2031 with a $4.00 per share conversion price; and a $115.0 million common equity issuance at $3.08 per share, alongside a $500.0 million revolver for hedging support.
Operationally, Sable is ramping production at the Santa Ynez Unit, with average well rates of 723 barrels of oil per day in the quarter and preliminary July and early August 2026 gross oil sales around the high 30–40 thousand barrels per day. The company incurred $18.5 million of non-recurring demurrage charges due to refinery scheduling constraints and faces temporary downstream throughput limits and pricing differentials, but expects constraints to ease later in August and into 2027. Updated guidance for 2H 2026 and 2027 emphasizes lower capital spending, high oil weighting and material projected unlevered free cash flow, supported by Brent costless collar hedges with $65/Bbl floors through 2028.
Sable Offshore Corp., an independent oil and gas company focused on the Santa Ynez Unit and associated pipelines in offshore California, reported its first significant production-driven results for the six months ended June 30, 2026. Oil and natural gas liquids sales generated $138.4 million in total revenue, following resumption of transportation through the Santa Ynez Pipeline System under a Defense Production Act order.
The company recorded a net loss of $261.2 million and used $72.8 million of cash in operating activities, driven by high operating costs and $77.7 million of interest expense on its Senior Secured Term Loan. Cash and cash equivalents declined to $21.6 million, while total debt, including paid-in-kind interest, stood at $968.8 million. Oil and gas properties, net, were $1.61 billion, and total assets were $1.76 billion.
Subsequent to quarter end, on July 2, 2026, Sable refinanced its capital structure via $675.0 million of Term Loan B due 2028, $345.0 million of 6.5% Convertible Senior Notes due 2031, a $115.0 million equity offering, and a $500.0 million senior secured revolver, using proceeds to repay the Exxon term loan and enhance liquidity. Management states that these 2026 Refinancing Transactions alleviated the previously disclosed substantial doubt about the company’s ability to continue as a going concern.
State Street Corporation reported beneficial ownership of common stock of Sable Offshore Corp. State Street and its investment management subsidiaries collectively beneficially own 7,827,902 shares of Sable Offshore common stock, representing 5.1% of the class.
State Street reports no sole voting or dispositive power, with 7,563,324 shares subject to shared voting power and 7,827,902 shares subject to shared dispositive power through entities including SSGA Funds Management, Inc. and State Street Global Advisors affiliates.
Sable Offshore Corp. engaged CohnReznick LLP as its new independent registered public accounting firm for the fiscal year ending December 31, 2026, after CohnReznick acquired certain assets of the prior auditor, Ham, Langston and Brezina, LLP (HL&B). HL&B resigned as auditor on July 10, 2026 with the approval of the board’s Audit Committee.
HL&B’s reports on Sable Offshore’s consolidated financial statements for 2023–2025 contained an explanatory paragraph about the company’s ability to continue as a going concern, but did not include adverse opinions, disclaimers, or qualifications on scope or principles. The company reports no disagreements or reportable events with HL&B and says it did not consult CohnReznick on accounting matters before the engagement. HL&B’s confirming letter is filed as Exhibit 16.1.