Professional
Added to YB: 2024-09-23
Pitch date: 2024-09-21
SOC [bullish]
Sable Offshore Corp.
-72.36%
current return
Author Info
Lake Cornelia Research Management provides managed accounts and bespoke advisory services to family offices & investment funds. Follow on Twitter/X.
Company Info
Sable Offshore Corp. operates as an independent oil and gas company in the United States. The company operates through three platforms located in federal waters offshore California.
Market Cap
$694.4M
Pitch Price
$22.29
Price Target
125.00 (+1929%)
Dividend
N/A
EV/EBITDA
-4.65
P/E
-1.19
EV/Sales
N/A
Sector
Oil, Gas and Consumable Fuels
Category
turnaround
Sable Offshore Targets $75-$125 with 15M Barrels/Yr Production and $10B PV-10 Oil Reserves
SOC: Offshore refinery restart. $197M cost, $210M cash + warrant proceeds. PIPE deal $440M. CEO heavily invested. Accelerating timeline, reducing risk. Debt refinancing soon. Production ramp key driver. No cost overruns. 15M/yr production vs 10M SPAC est. $75-$125 price target. PV-10 $10B + $1-2B carbon capture value.
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