Sable Offshore Corp.
For the period ended Dec 31, 2024. Filed Mar 17, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 17, 2025
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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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Successor · Predecessor | |||
|---|---|---|---|
| February 14, 2024—December 31, 2024 | January 1, 2024—February 13, 2024 | Year Ended December 31, 2023 | |
| Cash flows from operating activities: | |||
| Net loss | $(617,278) | $(11,789) | $(93,673) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation, depletion, amortization and accretion | 9,734 | 2,627 | 21,018 |
| Stock-based compensation | 91,609 | — | — |
| Amortization of operating lease right-of-use asset | 1,071 | — | — |
| Amortization of debt issuance costs | 1,012 | — | — |
| Paid-in-kind interest | 66,302 | — | — |
| Effect of amendment to the Senior Secured Term Loan | 4,957 | — | — |
| Deferred tax benefit | (48) | — | — |
| Change in fair value of warrant liabilities | 227,454 | — | — |
| Changes in current assets and current liabilities, net of effect of acquisition: | |||
| Materials, supplies and other assets | 1,275 | 5,980 | 2,198 |
| Prepaid expenses | (3,025) | — | — |
| Accounts payable and accrued expenses | 53,969 | (7,922) | (4,430) |
| Due to related party | — | (11,370) | 4,789 |
| Net cash used in operating activities | (162,968) | (22,474) | (70,098) |
| Cash flows from investing activities: | |||
| Payments for capital expenditures | (72,302) | — | — |
| Cash paid for acquisition | (203,945) | — | — |
| Net cash used in investing activities | (276,247) | — | — |
| Cash flows from financing activities: | |||
| Capital contribution from parent | — | 22,474 | 70,098 |
| Private offering proceeds | 590,249 | — | — |
| Payment of equity issuance costs | (30,596) | — | — |
| Cash received on warrants exercised, net | 183,514 | — | — |
| Payment on Senior Secured Term Loan | (18,750) | — | — |
| Payment of debt issuance costs | (1,635) | — | — |
| Payment of non-convertible promissory notes—related parties | (1,129) | — | — |
| Net cash provided by financing activities | 721,653 | 22,474 | 70,098 |
| Net change in cash | 282,438 | — | — |
| Cash and cash equivalents, beginning of the period | 53,334 | — | — |
| Cash, cash equivalents and restricted cash, end of the period | $335,772 | $— | $— |
| 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 | $13,689 | $— | $— |
| Acquisition of transportation assets | $15,234 | $— | $— |
| Warrant liability removed upon exercise | $170,571 | $— | $— |
| Change in capital expenditure accrual | $62,384 | $— | $— |
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