Sable Offshore Corp.
For the period ended Sep 30, 2026. Filed Nov 9, 2026.
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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, 2026 · Filed Nov 9, 2026
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
| Nine Months Ended | ||
|---|---|---|
| September 30, | ||
| (dollars in thousands) | 2026 | 2025 |
| Cash flows from operating activities: | ||
| Net loss | $(530,564) | $(347,988) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depletion, depreciation, amortization and accretion | 79,947 | 9,452 |
| Share-based compensation expense | 42,473 | 30,016 |
| Amortization of operating lease right-of-use asset | 1,088 | 1,236 |
| Amortization of debt discount and issuance costs, including accretion of exit fee | 15,812 | 467 |
| Paid-in-kind interest | 72,782 | 62,562 |
| Loss on extinguishment of debt | 15,025 | — |
| Excise tax refund | 2,306 | — |
| Deferred tax expense | 24,315 | 25,336 |
| Change in fair value of warrant liabilities | (22,071) | (40,668) |
| Loss on derivatives, net | 168,651 | — |
| Net cash paid on settlement of derivative instruments | (42) | — |
| Changes in current assets and current liabilities: | ||
| Accounts receivable | (73,361) | — |
| Inventory | (3,063) | (5,297) |
| Materials and supplies | 621 | 535 |
| Prepaid expenses and other assets | 3,221 | (9,923) |
| Accounts payable and accrued liabilities | 56,340 | 20,698 |
| Net cash used in operating activities | (146,520) | (253,574) |
| Cash flows from investing activities: | ||
| Payments for capital expenditures | (111,595) | (323,093) |
| Net cash used in investing activities | (111,595) | (323,093) |
| Cash flows from financing activities: | ||
| Offering proceeds | 286,536 | 295,000 |
| Payments of equity issuance costs | (22,300) | (12,476) |
| Proceeds from debt | 700,580 | — |
| Repayments of debt | (712,356) | — |
| Payments of debt issuance costs | (53,990) | — |
| Net cash provided by financing activities | 198,470 | 282,524 |
| Net change in cash and cash equivalents | (59,645) | (294,143) |
| Cash, cash equivalents and restricted cash, beginning of the period | 97,684 | 335,772 |
| Cash, cash equivalents and restricted cash, end of the period | $38,039 | $41,629 |
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