Every 10-Q that Sable Offshore Corp. (SOC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SOC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SOC filings page.
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.
Sable Offshore Corp. reported a Q1 2026 net loss of $197.0 million on minimal oil revenue of $1.3 million, as it began selling roughly 13,380 barrels late in the quarter. Operating expenses reached $120.0 million, including high operations and administrative costs, and interest expense was $34.7 million.
Cash and cash equivalents fell to $52.2 million as of March 31, 2026, while the Senior Secured Term Loan, including paid‑in‑kind interest, rose to $956.3 million, with its maturity accelerated to June 26, 2026. Stockholders’ equity declined to $421.9 million despite raising about $72.4 million through an at‑the‑market equity program. Management states that substantial doubt exists about the company’s ability to continue as a going concern without successful refinancing or additional capital.
Sable Offshore Corp. (SOC) filed its Q3 2025 10‑Q reporting no revenue and continued losses as it works toward first sales from the Santa Ynez Unit (SYU). The company restarted production on May 15, 2025, but oil has been stored onshore rather than sold, so operating costs flowed through without offsetting revenue.
For the three months ended September 30, 2025, Sable posted a net loss of $110.4 million (basic and diluted loss per share $1.11) on operating expenses of $119.4 million. Nine‑month net loss was $348.0 million. Cash and cash equivalents were $41.6 million at quarter‑end, down from $300.4 million at year‑end, reflecting negative operating cash flow and capital spending. The balance sheet shows a Senior Secured Term Loan of $896.6 million (including paid‑in‑kind interest) classified as current after maturity accelerated to January 9, 2026.
Sable raised equity to fund operations, including a May 2025 underwritten public offering of 10,000,000 shares at $29.50, generating approximately $282.6 million in net proceeds. Management disclosed “substantial doubt” about the company’s ability to continue as a going concern, citing remaining regulatory approvals for either the onshore pipeline plan or an offshore storage and treating vessel strategy and uncertainty around new financing or refinancing.
Sable Offshore Corp. (SOC) restarted production at the Santa Ynez Unit on May 15, 2025 and began flowing oil from six wells to onshore storage, creating short-term oil inventory and recognizing related depreciation, depletion and amortization.
The company reported $247.1 million of unrestricted cash and $35.6 million of restricted cash, raised approximately $282.6 million of net proceeds from a May 2025 public offering of 10,000,000 shares, and holds oil and gas properties net of $1.427 billion. The Senior Secured Term Loan balance (including paid-in-kind interest) is presented as a short-term obligation of $875.6 million after its maturity accelerated to 240 days following restart (January 10, 2026). The report shows significant losses (net loss $128.1 million for the quarter, $237.6 million for six months) and an accumulated deficit of $935.9 million. Management discloses substantial doubt about the company’s ability to continue as a going concern pending refinancing, regulatory approvals for first sales, and resolution of material legal and regulatory matters.