24 Oct 2024director interest notice● Neutral
Sable Offshore Corp. insider Anthony Duenner acquired 100,000 shares and disposed of 100,000 in a set of related equity transactions.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
23 Oct 2024substantial holder notice● Neutral
BlackRock, Inc. filed a Schedule 13G reporting 3,737,739 Sable Class A shares, or 5.1% of the class, as of September 30, 2024. It reported sole power to dispose of the shares and no voting power.
16 Oct 2024director interest notice● Neutral
Sable Offshore Corp. EVP, Chief Operating Officer Bourgeois Doss R sold 100,000 shares.
11 Oct 2024securities registration● Neutral
Sable Offshore Corp. registered a securities offering with the SEC.
11 Oct 2024director interest notice● Neutral
Sable Offshore Corp. President James Caldwell Flores exercised options for 67,000 shares and sold 147,900.
7 Oct 2024director interest notice● Neutral
Sable Offshore Corp. Chairman & CEO James C Flores bought 600,000 shares on the open market at $0.00.
3 Oct 2024securities registration● Neutral
Sable filed a prospectus supplement adding an 8-K that reported a private placement (PIPE) of about 7.5 million new shares at $20.00 each, for roughly $150 million. The sale closed on September 23, 2024.
3 Oct 2024securities registration● Neutral
Sable filed a prospectus supplement relaying its October 3, 2024 announcement that it would redeem all outstanding public warrants at $0.01 each on November 4, 2024. Holders could exercise at $11.50 per share until then.
24 Sept 2024capital raising announcement● NeutralMajor
On September 19, 2024, Sable Offshore Corp. agreed to sell about 7.5 million new shares of common stock to private investors for about $150 million, and the sale was completed on September 23, 2024. This is new money raised after the February 2024 closing of the Exxon SYU purchase. It adds shares for existing holders to be diluted by, at roughly $20 a share (my arithmetic from the stated figures).
23 Sept 2024director interest notice● Neutral
Sable Offshore Corp. 10%+ owner Pilgrim Global Icav bought 750,000 shares on the open market at $20.00.
3 Sept 2024securities registration● Neutral
Sable filed a prospectus supplement relaying an August 30, 2024 settlement with Santa Barbara County, which acknowledged it has no jurisdiction over installing 16 pipeline safety valves. Sable reaffirmed initial production restart was expected in the fourth quarter of 2024.
29 Aug 2024director interest notice● Neutral
Sable Offshore Corp. 10%+ owner Pilgrim Global Icav bought 744,374 shares on the open market.
13 Aug 2024quarterly activities report▼ Bad
Sable reported a second-quarter 2024 net loss of $165.4 million, mainly from higher warrant liability fair value, restart-related operating costs and share-based pay. It ended the quarter with $112.1 million of cash and $790.4 million of debt.
13 Aug 2024quarterly activities report▼ Bad
Sable Offshore filed its quarterly report for the period ended June 30, 2024, its first as a public company following the February 2024 merger. It reported no production, as the Santa Ynez Unit remained shut in awaiting pipeline restart.
13 Aug 2024securities registration● Neutral
Sable's 10-Q for the quarter ended June 30, 2024 showed no revenue and a net loss of $165.4 million. Cash was $112.1 million and the term loan was $790.4 million.
11 July 2024securities registration● Neutral
California's State Fire Marshal said on July 10, 2024 that the pipeline operator's 2021 risk plan remains in effect, rejecting its supplemental plan. Sable expected restart in late third or early fourth quarter 2024.
7 June 2024director interest notice● Neutral
Sable Offshore Corp. insider Pipkin Gregory Phillip sold 82,238 shares at $14.66.
5 June 2024director interest notice● Neutral
Sable Offshore Corp. insider Pipkin Gregory Phillip gifted 96,875 shares.
23 May 2024securities registration● Neutral
Sable said BOEM approved the transfer of 16 Santa Ynez Unit leases from ExxonMobil to Sable on May 21, 2024, and BSEE approved Sable as operator of the unit on May 22.
22 May 2024director interest notice● Neutral
Sable Offshore Corp. Chairman & CEO Flores James Caldwell bought 100,000 shares on the open market at $13.74.
22 May 2024director interest notice● Neutral
Flores James Caldwell became a Sable Offshore Corp. President and company insider (initial ownership filing).
22 May 2024director interest notice● Neutral
Sable Offshore Corp. EVP, Chief Operating Officer Bourgeois Doss R sold 200,000 shares.
22 May 2024director interest notice● Neutral
Sable Offshore Corp. Chairman & CEO James C Flores bought 100,000 shares on the open market at $13.74.
16 May 2024director interest notice● Neutral
Sable Offshore Corp. 10%+ owner Pilgrim Global Icav bought 500,000 shares on the open market at $2.50.
15 May 2024quarterly activities report▼ Bad
In its 10-Q for the quarter ended March 31, 2024, Sable reported no revenue and a net loss of $180.1 million. It held $209.1 million in cash and a $771.2 million term loan.
15 May 2024quarterly activities report▼ Bad
Sable reported a first quarter 2024 net loss of $180.1 million, mainly from the legal settlement over its pipelines and costs of the business combination. It guided to restarting Santa Ynez Unit production in September 2024.
15 May 2024securities registration● Neutral
Sable filed a prospectus supplement adding its first-quarter 2024 10-Q to the May 10 prospectus. It showed no revenue, a net loss of $180.1 million for February 14 to March 31, 2024, and $209.1 million of cash.
10 May 2024securities registration● Neutral
Sable Offshore Corp. filed the final prospectus for a registered offering.
30 Apr 2024director interest notice● Neutral
Sable Offshore Corp. insider Michael E. Dillard acquired 149,653 shares and disposed of 96,875 in a set of related equity transactions.
30 Apr 2024director interest notice● Neutral
Sable Offshore Corp. EVP, CFO Patrinely Gregory D. received 650,000 shares as part of the equity award.