Added to YB: 2025-11-11
Pitch date: 2025-11-05
SOC [neutral]
Sable Offshore Corp.
+9.03%
current return
Author Info
Kontrarian Korner is an investor, speculator, and occasional degenerate gambler in the markets. CPA and recovering Big 4 auditor. Sign up for the newsletter.
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
$5.65
Price Target
N/A
Dividend
N/A
EV/EBITDA
-4.65
P/E
-1.19
EV/Sales
N/A
Sector
Oil, Gas and Consumable Fuels
Category
special_situation
Sable Offshore: The Death Spiral
SOC pass: Pipeline effectively dead after losing Kern County case & Judge Anderle ruling; offshore route needs $2B+ & years of NEPA/BOEM permits Sable lacks time/cash for. Exxon demanding $225M equity raise to extend loan to 15% PIK rate. Massive dilution ahead before any revenue.
Read full article (6 min)