Added to YB: 2026-04-20
Pitch date: 2026-04-17
SOC [bullish]
Sable Offshore Corp.
Author Info
Triple S is a professional special situations investor who shares ideas in their newsletter. Sign up for the newsletter.
Company Info
Sable Offshore Corp. operates as an independent oil and gas company in the United States. The company operates through three platforms located in federal waters offshore California.
Market Cap
$1.9B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
-7.34
P/E
-3.10
EV/Sales
N/A
Sector
Oil, Gas and Consumable Fuels
Category
special_situation
Forgive me Father, I have Sabled.
SOC: DPA-backed restart hitting ~50 kbopd (60k by Q2), est $1B+ FCF/yr at current oil prices ($83 Brent discount, 83% NRI), $10B reserves. $396M/yr opex (~$18/BBL all-in). Legal risks: CA suing to nullify Wright DPA order, Parks seeking injunction on pipeline ROW (hearing next week), 9th Circuit reviewing PHMSA jurisdiction. Bimodal outcome: barrels flow or courts shut it down. Playing via collar—long common, sell upside calls, buy downside puts.
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