Texas firm's plan to restart oil rigs off California coast gets Trump administration support, legal pushback [CBS News]
Sable Offshore Corp. (SOC)
Company Research
Source: CBS News
The Trump administration recently proposed a plan to open up the entire coast to new offshore drilling . While that plan is still in draft form, the administration is now involved in a push to restart three existing oil rigs near Santa Barbara. Houston, Texas-based Sable Offshore Corp. has been attempting to bring them back into production more than a decade after they were shut down, but has encountered environmental and legal roadblocks. "If this project is allowed to restart off of California, it will be the biggest threat to the California coast in terms of risk of oil spills but also in terms of greenhouse gas emissions," said Linda Krop, chief counsel for the Environmental Defense Center In 2024, Sable acquired the platforms, a nearby oil processing facility, and a 125-mile-long pipeline system from ExxonMobil. These assets were all shut down in 2015. The company says it wants to restart the rigs and eventually produce about 50,000 barrels of oil - or more than two millio
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News
- Sable Offshore: The Court Ruling That Changes Everything [Yahoo! Finance]Yahoo! Finance
- Sable Offshore (NYSE:SOC) had its "buy" rating reaffirmed by analysts at Benchmark Co..MarketBeat
- Sable Offshore: Equity Raise Looms As Valuation Remains Stretched Amid Persistent Risks [Seeking Alpha]Seeking Alpha
- Sable Offshore (SOC) Continued its Rally This Week. Here is Why [Yahoo! Finance]Yahoo! Finance
- Does Sable Offshore's (SOC) Court-Backed Pipeline Restart Clarify Its California Asset Strategy? [Yahoo! Finance]Yahoo! Finance
SOC
Earnings
- 11/13/25 - Miss
SOC
Sec Filings
- 12/29/25 - Form 8-K
- 12/23/25 - Form 8-K
- 12/17/25 - Form 8-K
- SOC's page on the SEC website