Sable Offshore Corp.
For the period ended Sep 30, 2025. Filed Nov 13, 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.
Sep 30, 2025 · Filed Nov 13, 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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Condensed Consolidated Statements of Cash Flows
| Successor · Predecessor | |||
|---|---|---|---|
| (dollars in thousands) | Nine Months Ended September 30, 2025 | February 14, 2024—September 30, 2024 | January 1, 2024—February 13, 2024 |
| Cash flows from operating activities: | |||
| Net loss | $(347,988) | $(601,111) | $(11,789) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation, depletion, amortization and accretion | 9,452 | 6,856 | 2,627 |
| Share based compensation expense | 30,016 | 86,034 | — |
| Amortization of operating lease right-of-use asset | 1,236 | — | — |
| Amortization of debt issuance costs | 467 | 801 | — |
| Paid-in-kind interest | 62,562 | 47,344 | — |
| Effect of amendment to the Senior Secured Term Loan | — | 4,957 | — |
| Deferred tax expense | 25,336 | 19,437 | — |
| Change in fair value of warrant liabilities | (40,668) | 257,614 | — |
| Changes in current assets and current liabilities, net of effect of acquisition: | |||
| Inventory and other | (4,762) | 798 | 5,980 |
| Prepaid expenses and other assets | (9,923) | (2,787) | — |
| Accounts payable and accrued liabilities | 20,698 | 54,548 | (7,922) |
| Due to related party | — | — | (11,370) |
| Net cash used in operating activities | (253,574) | (125,509) | (22,474) |
| Cash flows from investing activities: | |||
| Payments for capital expenditures | (323,093) | (18,574) | — |
| Cash paid for acquisition | — | (204,154) | — |
| Net cash used in investing activities | (323,093) | (222,728) | — |
| Cash flows from financing activities: | |||
| Capital contribution from parent | — | — | 22,474 |
| Private offering proceeds | 295,000 | 590,249 | — |
| Payment of equity issuance costs | (12,476) | (22,878) | — |
| Cash received on warrant exercises, net | — | 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 | 282,524 | 618,387 | 22,474 |
| Net change in cash | (294,143) | 270,150 | — |
| Cash, cash equivalents and restricted cash, beginning of the period | 335,772 | 53,334 | — |
| Cash, cash equivalents and restricted cash, end of the period | $41,629 | $323,484 | $— |
| Reconciliation of cash, cash equivalents and restricted cash to the unaudited condensed consolidated balance sheets | |||
| Cash and cash equivalents | $41,629 | $288,232 | $— |
| Restricted cash | — | 35,252 | — |
| Total cash, cash equivalents and restricted cash | $41,629 | $323,484 | $— |
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