Sable Offshore Corp.
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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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.
FY2025 · Filed Feb 27, 2026
SOC$0.75-14.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
(dollars in thousands, except par values)
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $97,684 | $300,384 |
| Restricted cash | — | 35,388 |
| Inventory | 12,078 | — |
| Materials and supplies | 14,658 | 15,337 |
| Prepaid expenses and other current assets | 11,282 | 4,166 |
| Total current assets | 135,702 | 355,275 |
| Oil and gas properties (Successful efforts method) | ||
| Oil and gas properties | 1,567,029 | 1,194,447 |
| Less: Accumulated depreciation, depletion and amortization | (5,977) | — |
| Total oil and gas properties, net | 1,561,052 | 1,194,447 |
| Other, net | 44,068 | 33,450 |
| Total assets | $1,740,822 | $1,583,172 |
| Liabilities and Stockholders’ Equity | ||
| Accounts payable and accrued liabilities | $99,353 | $119,753 |
| Senior Secured Term Loan including paid-in-kind interest, net | 921,584 | — |
| Other current liabilities | 2,488 | 918 |
| Total current liabilities | 1,023,425 | 120,671 |
| Warrant liabilities | 37,738 | 126,941 |
| Asset retirement obligations | 113,181 | 99,683 |
| Senior Secured Term Loan including paid-in-kind interest, net | — | 833,542 |
| Deferred tax liability | 12,833 | 1,162 |
| Other | 19,342 | 16,988 |
| Total liabilities | 1,206,519 | 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 December 31, 2025 and 2024 | — | — |
| Common Stock, $0.0001 par value; 500,000,000 shares authorized; 144,961,796 and 89,310,996 issued and outstanding at December 31, 2025 and 2024, respectively | 15 | 8 |
| Additional paid-in capital | 1,642,746 | 1,082,473 |
| Accumulated deficit | (1,108,458) | (698,296) |
| Total Stockholders’ Equity | 534,303 | 384,185 |
| Total Liabilities and Stockholders’ Equity | $1,740,822 | $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.