Sable Offshore Corp.
For the period ended Mar 31, 2025. Filed May 9, 2025.
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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, 2025 · Filed May 9, 2025
SOC$0.88-54.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
(dollars in thousands, except par values)
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $188,987 | $300,384 |
| Restricted cash | 35,510 | 35,388 |
| Materials and supplies | 15,080 | 15,337 |
| Prepaid expenses and other current assets | 5,492 | 4,166 |
| Total current assets | 245,069 | 355,275 |
| Oil and gas properties (Successful efforts method) | ||
| Oil and gas properties | 1,282,636 | 1,194,447 |
| Less: Accumulated depreciation, depletion and amortization | — | — |
| Total oil and gas properties - net | 1,282,636 | 1,194,447 |
| Other, net | 34,487 | 33,450 |
| Total assets | $1,562,192 | $1,583,172 |
| Liabilities and Stockholders’ Equity | ||
| Accounts payable and accrued expenses | $145,902 | $119,753 |
| Other current liabilities | 1,027 | 918 |
| Total current liabilities | 146,929 | 120,671 |
| Warrant liabilities | 148,236 | 126,941 |
| Asset retirement obligations | 102,519 | 99,683 |
| Senior Secured Term Loan including paid-in-kind interest, net | 854,552 | 833,542 |
| Deferred tax liabilities | 12,045 | 1,162 |
| Other | 17,205 | 16,988 |
| Total liabilities | 1,281,486 | 1,198,987 |
| Commitments and Contingencies (Note 8) | ||
| Stockholders' Equity | ||
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding at March 31, 2025 and December 31, 2024 | — | — |
| Common Stock, $0.0001 par value; 500,000,000 shares authorized; 89,338,358 and 89,310,996 issued and outstanding at March 31, 2025 and December 31, 2024, respectively | 8 | 8 |
| Additional paid-in capital | 1,088,538 | 1,082,473 |
| Accumulated deficit | (807,840) | (698,296) |
| Total Stockholders’ Equity | 280,706 | 384,185 |
| Total Liabilities and Stockholders’ Equity | $1,562,192 | $1,583,172 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.