Sable Offshore resumes oil production at Santa Ynez unit, doubling production estimates

From Yahoo Finance: 2025-05-19 16:53:00

Sable Offshore Corp. (NYSE:SOC) has successfully restarted oil production at the Santa Ynez Unit after acquiring the asset for $883 million last year. The company anticipates oil sales from the Las Flores Pipeline System in July 2025 and has already begun initial oil production at a rate of 6,000 barrels per day. With updated guidance for the second half of 2025, SOC has doubled its net average daily production estimates, leading to increased investor interest and the stock hitting an all-time high. Analysts have responded positively, with TD Cowen raising SOC’s price target to $40 and reiterating a Buy rating.



Read more at Yahoo Finance: Sable Offshore Hits Major Milestone with Production Restart at Santa Ynez