Sable Offshore Corp. reported second quarter 2026 financial results, achieving $137.1 million in total revenue and generating $9.4 million in positive operating cash flow for the period ended June 30, 2026. The company completed a debt refinancing on July 2, 2026, issuing a $675 million Senior Secured Term Loan B due December 15, 2028, and $345 million in Convertible Senior Notes due July 1, 2031. Sable also issued $115 million of common stock at $3.08 per share to facilitate the refinancing. Operational highlights include average daily net sales volumes of approximately 21 thousand barrels of oil per day and an exit rate of approximately 40 thousand net barrels of oil per day, representing a 149% growth during the quarter. The company incurred $18.5 million in non-recurring demurrage charges due to midstream constraints. Sable operates as an independent oil and gas exploration and production company focused on developing offshore assets in California.
