Sable Offshore Corp
For the period ended Sep 30, 2024. Filed Nov 14, 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.
Sep 30, 2024 · Filed Nov 14, 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—September 30, 2024 | January 1, 2024—February 13, 2024 | Nine Months Ended September 30, 2023 | |
| Cash flows from operating activities: | |||
| Net loss | $(601,111) | $(11,789) | $(68,571) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation, depletion, amortization and accretion | 6,856 | 2,627 | 15,764 |
| Stock-based compensation | 86,034 | — | — |
| Amortization of deferred financing costs | 801 | — | — |
| Paid-in-kind interest | 47,344 | — | — |
| Effect of amendment to the Senior Secured Term Loan | 4,957 | — | — |
| Deferred tax expenses | 19,437 | — | — |
| Change in fair value of warrant liabilities | 257,614 | — | — |
| Changes in current assets and current liabilities, net of effect of acquisition: | |||
| Materials, supplies and other assets | 798 | 5,980 | 752 |
| Prepaid expenses | (2,787) | — | — |
| Accounts payable and accrued expenses | 54,548 | (7,922) | (2,724) |
| Due to related party | — | (11,370) | 162 |
| Net cash used in operating activities | (125,509) | (22,474) | (54,617) |
| Cash flows from investing activities: | |||
| Payments for capital expenditures | (18,574) | — | — |
| Cash paid for acquisition | (204,154) | — | — |
| Net cash used in investing activities | (222,728) | — | — |
| Cash flows from financing activities: | |||
| Capital contribution from parent | — | 22,474 | 54,617 |
| Private offering proceeds | 590,249 | — | — |
| Payment of equity issuance costs | (22,878) | — | — |
| Cash received on warrants exercised | 72,452 | — | — |
| Payment on Senior Secured Term Loan | (18,750) | — | — |
| Payment of debt issuance costs | (1,557) | — | — |
| Payment of non-convertible promissory notes—related parties | (1,129) | — | — |
| Net cash provided by financing activities | 618,387 | 22,474 | 54,617 |
| Net change in cash | 270,150 | — | — |
| Cash and cash equivalents, beginning of the period | 53,334 | — | — |
| Cash, cash equivalents and restricted cash, end of the period | $323,484 | $— | $— |
| 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 | $13,260 | $— | $— |
| Change in capital expenditure accruals | $32,145 | $— | $— |
| Accrued equity issuance costs | $7,482 | $— | $— |
| Warrant liabilities removed upon exercise | $69,123 | $— | $— |
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