From Financial Modeling Prep: 2024-10-08 12:27:00

BWS Financial analysts gave Sable Offshore (NYSE:SOC) a Sell rating with a $6 price target due to doubts about restarting oil production off the Santa Barbara coast. The acquisition of ExxonMobil’s platforms aimed to resume production, but regulatory hurdles may cause delays and financial strain for SOC.

Despite obtaining some approvals, Sable Offshore faces potential regulatory delays and requirements for additional studies before production can restart. These delays could lead to increased costs and financial pressures beyond initial estimates, posing a risk of ExxonMobil reclaiming ownership without compensating SOC under the acquisition agreement.



Read more at Financial Modeling Prep:: Sable Offshore Started With a Sell Rating at BWS F…