Sable Offshore Corp
For the period ended Mar 31, 2024. Filed May 15, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 15, 2024
SOC$0.75-14.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Successor · Predecessor | |||
|---|---|---|---|
| February 14, 2024— March 31, 2024 | January 1, 2024— February 13, 2024 | Three Months Ended March 31, 2023 | |
| Cash flows from operating activities: | |||
| Net loss | $(180,105) | $(11,789) | $(23,193) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation, depletion, amortization and accretion | 1,377 | 2,627 | 5,255 |
| Stock-based compensation | 46,380 | — | — |
| Amortization of deferred financing costs | 170 | — | — |
| Paid-in-kind interest | 9,631 | — | — |
| Change in deferred tax liabilities | 13,423 | — | — |
| Change in fair value of warrant liabilities | (1,763) | — | — |
| Changes in current assets and current liabilities, net of effect of acquisition: | |||
| Materials, supplies and other assets | — | 5,980 | 247 |
| Prepaid expenses | (2,248) | — | — |
| Accounts payable and accrued expenses | 77,006 | (7,922) | (1,986) |
| Due to related party | — | (11,370) | (70) |
| Net cash used in operating activities | (36,129) | (22,474) | (19,747) |
| Cash flows from investing activities: | |||
| Cash paid for acquisition | (204,094) | — | — |
| Net cash used in investing activities | (204,094) | — | — |
| Cash flows from financing activities: | |||
| Capital contribution from parent | — | 22,474 | 19,747 |
| Private offering proceeds | 440,249 | — | — |
| Payment of equity issuance costs | (22,878) | — | — |
| Payment on Senior Secured Term Loan | (18,750) | — | — |
| Payment of debt issuance costs | (1,503) | — | — |
| Payment of non-convertible promissory notes—related parties | (1,129) | — | — |
| Net cash provided by financing activities | 395,989 | 22,474 | 19,747 |
| Net change in cash | 155,766 | — | — |
| Cash and cash equivalents, beginning of the period | 53,334 | — | — |
| Cash and cash equivalents, end of the period | $209,100 | $— | $— |
| Supplemental Non-Cash Disclosure | |||
| Assets and Liabilities resulting from Business Combination: | |||
| Senior Secured Term Loan, including paid-in-kind interest | $765,018 | $— | $— |
| Supplies and materials | 16,637 | — | — |
| Accrued liabilities | 129 | — | — |
| Deferred tax liability | 1,209 | — | — |
| Asset retirement obligations assumed | 90,073 | — | — |
| Right of use assets obtained in exchange for operating lease liabilities | 4,621 | — | — |
| Right of use assets obtained in exchange for operating lease liabilities | $756 | $— | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.