SOC on NYSE
Sable Offshore Corp.
American crude petroleum and natural gas company based in Houston.
Price unavailable
Last updated Oct 18, 2026.
Overview
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenue | $0 | $0 | $0 |
| Operations and maintenance expenses | $219.2M | $87.9M | $60.7M |
| Depletion, depreciation, amortization and accretion | $12.9M | $9.7M | $21.0M |
| General and administrative expenses | $176.2M | $229.1M | $12.8M |
| Total operating expenses | $408.3M | $326.8M | $94.5M |
| Loss from operations | -$408.3M | -$326.8M | -$94.5M |
| Change in fair value of warrant liabilities | -$89.2M | $227.5M | $0 |
| Other (income) expense, net | -$8.8M | -$4.2M | -$801.0K |
| Interest expense | $88.2M | $67.3M | $0 |
| Total other (income) expense, net | -$9.8M | $290.6M | -$801.0K |
| Loss before income taxes | -$398.5M | -$617.3M | -$93.7M |
| Income tax expense (benefit) | $11.7M | -$48.0K | $0 |
| Net loss | -$410.2M | -$617.3M | -$93.7M |
| Weighted average Common Stock outstanding, basic (in shares) | 98.2M shares | 67.0M shares | |
| Weighted average Common Stock outstanding, diluted (in shares) | 98.2M shares | 67.0M shares | |
| Basic net loss per Common Stock (in dollars per share) | -$4.18 | -$9.21 | |
| Diluted net loss per Common Stock (in dollars per share) | -$4.18 | -$9.21 |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2024-01-31 |
|---|---|---|---|
| Cash and cash equivalents | $97.7M | $300.4M | $0 |
| Restricted cash | $0 | $35.4M | $0 |
| Inventory | $12.1M | $0 | |
| Materials and supplies | $14.7M | $15.3M | |
| Prepaid expenses and other current assets | $11.3M | $4.2M | |
| Total current assets | $135.7M | $355.3M | |
| Oil and gas properties | $1.6B | $1.2B | |
| Less: Accumulated depreciation, depletion and amortization | -$6.0M | $0 | |
| Total oil and gas properties, net | $1.6B | $1.2B | |
| Other, net | $44.1M | $33.5M | |
| Total assets | $1.7B | $1.6B | |
| Accounts payable and accrued liabilities | $99.4M | $119.8M | |
| Senior Secured Term Loan including paid-in-kind interest, net | $921.6M | $0 | |
| Total current liabilities | $1.0B | $120.7M | |
| Warrant liabilities | $37.7M | $126.9M | |
| Asset retirement obligations | $113.2M | $99.7M | |
| Senior Secured Term Loan including paid-in-kind interest, net | $0 | $833.5M | |
| Deferred tax liability | $12.8M | $1.2M | |
| Other | $19.3M | $17.0M | |
| Total liabilities | $1.2B | $1.2B | |
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding at December 31, 2025 and 2024 | $0 | $0 | |
| Common Stock, $0.0001 par value; 500,000,000 shares authorized; 144,961,796 and 89,310,996 issued and outstanding at December 31, 2025 and 2024, respectively | $15.0K | $8.0K | |
| Additional paid-in capital | $1.6B | $1.1B | |
| Accumulated deficit | -$1.1B | -$698.3M | |
| Total Stockholders Equity | $534.3M | $384.2M | -$19.1M |
| Total Liabilities and Stockholders Equity | $1.7B | $1.6B | |
| Preferred stock par value (in dollars per share) | $0.00 | $0.00 | |
| Preferred stock authorized (in shares) | 1.0M shares | 1.0M shares | |
| Preferred stock issued (in shares) | 0 shares | 0 shares | |
| Preferred stock outstanding (in shares) | 0 shares | 0 shares | |
| Common stock par value (in dollars per share) | $0.00 | $0.00 | $0.00 |
| Common stock authorized (in shares) | 500.0M shares | 500.0M shares | |
| Common stock issued (in shares) | 145.0M shares | 89.3M shares | |
| Common stock outstanding (in shares) | 145.0M shares | 89.3M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$410.2M | -$617.3M | -$93.7M |
| Depreciation, depletion, amortization and accretion | $12.9M | $9.7M | $21.0M |
| Share based compensation expense | $42.7M | $91.6M | $0 |
| Amortization of operating lease right-of-use asset | $1.6M | $1.1M | $0 |
| Amortization of debt issuance costs | $542.0K | $1.0M | $0 |
| Paid-in-kind interest | $87.7M | $66.3M | $0 |
| Effect of amendment to the Senior Secured Term Loan | $0 | $5.0M | $0 |
| Deferred tax expense (benefit) | $11.7M | -$48.0K | $0 |
| Change in fair value of warrant liabilities | -$89.2M | $227.5M | $0 |
| Inventory | -$6.1M | $0 | $0 |
| Material and supplies | $428.0K | $1.3M | $2.2M |
| Prepaid expenses and other assets | -$7.5M | -$3.0M | $0 |
| Accounts payable and accrued liabilities | $3.8M | $54.0M | -$4.4M |
| Due to related party | $0 | $0 | $4.8M |
| Net cash used in operating activities | -$351.7M | -$163.0M | -$70.1M |
| Payments for capital expenditures | -$417.6M | -$72.3M | $0 |
| Cash consideration paid | $0 | -$203.9M | $0 |
| Net cash used in investing activities | -$417.6M | -$276.2M | $0 |
| Capital contribution from parent | $0 | $0 | $70.1M |
| Offering proceeds | $545.0M | $590.2M | $0 |
| Payment of equity issuance costs | -$13.8M | -$30.6M | $0 |
| Cash received on warrant exercises, net | $0 | $183.5M | $0 |
| Payment on Senior Secured Term Loan | $0 | -$18.8M | $0 |
| Payment of debt issuance costs | $0 | -$1.6M | $0 |
| Payment of non-convertible promissory notesrelated parties | $0 | -$1.1M | $0 |
| Net cash provided by financing activities | $531.2M | $721.7M | $70.1M |
| Net change in cash | -$238.1M | $282.4M | $0 |
Leadership
Who has led Sable Offshore Corp., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
2025
- Chief executive officerJames C. Flores Feb 24, 2021 to now10
- ChairJames C. Flores Feb 16, 2024 to now11
- PresidentJames C. Flores Feb 24, 2021 to Dec 8, 202210
- Chief financial officerGregory D. Patrinely Feb 24, 2021 to now12
- Chief operating officerDoss R. Bourgeois Nov 15, 2023 to now13
Board members and other officers (4)
- OfficerAnthony Duenner Feb 16, 2024 to now14
- Board memberChristopher Binyon Sarofim Feb 24, 2021 to now15
- Board memberJames C. Flores Feb 24, 2021 to Dec 8, 202210
- General counselAnthony Duenner Nov 15, 2023 to Nov 15, 202316
Former names
- Flame Acquisition Corp.Nov 30, 2020 to Feb 14, 20242
Timeline
Recent filings
- Oct 8, 2026SCHEDULE 13G/A
- Sep 29, 20268-K
- Sep 8, 2026SCHEDULE 13G/A
- Aug 24, 20268-K
- Aug 14, 2026SCHEDULE 13G
- Aug 13, 2026SCHEDULE 13G
- Aug 12, 2026SCHEDULE 13G/A
- Aug 10, 202610-Q
- Aug 10, 20268-K
- Aug 7, 2026SCHEDULE 13G
- Jul 13, 20268-K
- Jul 2, 2026305B2
- Jul 2, 2026424B5
- Jul 2, 2026424B5
- Jul 2, 20268-K
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 11SEC EDGARJames C. Flores, Chair
- 12
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- 14SEC EDGARAnthony Duenner, Officer
- 15
- 16SEC EDGARAnthony Duenner, General counsel
- 17