Professional
Added to YB: 2024-11-18
Pitch date: 2024-10-31
SOC [bullish]
Sable Offshore Corp.
-72.25%
current return
Author Info
Greenhaven Road is a boutique hedge fund with the patience and confidence to step outside of the norm. Visit their website.
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
$22.20
Price Target
67.00 (+988%)
Dividend
N/A
EV/EBITDA
-4.65
P/E
-1.19
EV/Sales
N/A
Sector
Oil, Gas and Consumable Fuels
Category
special_situation
Greenhaven Road Capital New Position: Sable Offshore Corp.
SOC: Sable Offshore Corp. acquired Santa Barbara oil field from Exxon. $10B PV-10 value, 10M barrels/yr potential. Regulatory hurdles mostly cleared. $374M-$634M annual cash flow at $70-$100/barrel. High insider ownership, operating leverage, recurring revenue. 3X+ upside if production restarts. Risks: regulatory delays, total loss possible.
Read full article (9 min)