Sable Offshore Corp. Reports First Quarter 2024 Financial Results and Provides Operational Updates
Sable Offshore Corp. (NYSE: SOC, “Sable,” or the “Company”) today announced its first quarter 2024 financial and operational results and near-term operational plans.
- Sable Offshore Corp. (NYSE: SOC, “Sable,” or the “Company”) today announced its first quarter 2024 financial and operational results and near-term operational plans.
- Ended the quarter with outstanding debt of $771.2 million, inclusive of paid-in-kind interest, and cash balance of $209.1 million.
- Completed asset handover with ExxonMobil (“EM”), hired 48 former EM field employees and added 24 additional employees as of May 15, 2024.
- Additionally, we updated the Development Drilling Program Best Estimate balance to 354 MMBoe, compared to December 2023 balance of 256 MMBoe.