Sable Offshore(SOC)

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Sable Offshore Corp. Statement on California Coastal Commission Litigation
Businesswire· 2025-10-15 10:15
Core Viewpoint - Sable Offshore Corp. is currently involved in litigation with the California Coastal Commission, with a tentative ruling indicating the denial of Sable's claims against the Commission, which the company intends to appeal [1][2][3]. Legal Proceedings - The Santa Barbara Superior Court's tentative ruling, released on October 14, 2025, suggests that Sable's claims will be denied, but this ruling will not affect the resumption of petroleum transportation through the Las Flores Pipeline System [1]. - Sable is pursuing damages exceeding approximately $347 million due to cease and desist orders issued during its anomaly repair program on the Las Flores Pipeline System [2]. Business Strategy - Despite the disappointing ruling, Sable's business strategy remains focused on resuming petroleum transportation through the Las Flores Pipeline System and selling production from the Santa Ynez Unit via an Offshore Storage & Treating Vessel (OS&T) [3]. - Sable emphasizes the importance of resuming operations to mitigate the economic impact on California's energy sector and to lower gasoline prices for residents [3]. Production and Operations - The anomaly repair program and hydrotesting of the Las Flores Pipeline System were completed in May 2025, in compliance with the Federal Consent Decree [2]. - Sable plans to continue pursuing the OS&T strategy, which was previously used from 1981 to 1994, to process production from the Santa Ynez Unit, which produced over 160 million barrels of oil equivalent during that period [3]. Company Overview - Sable Offshore Corp. is an independent oil and gas company based in Houston, Texas, focused on the responsible development of the Santa Ynez Unit in federal waters offshore California [4].
Atos further augments the AI tooling of its cybersecurity teams with ‘Virtual SOC Analyst' powered by Qevlar AI
Globenewswire· 2025-10-07 08:05
Core Insights - Atos has formed a global strategic partnership with Qevlar AI to enhance its cybersecurity operations through the integration of Qevlar's autonomous threat investigation AI, known as 'Virtual SOC Analyst' [1][2][5] Group 1: Partnership and Integration - The partnership aims to embed Qevlar's agentic AI into Atos' cybersecurity operations, improving efficiency by automating routine security analysis and allowing experts to focus on proactive threat hunting [2][3] - Atos brings extensive operational experience in cyber protection for regulated industries, ensuring that Qevlar's AI aligns with Atos' operational standards for effective delivery [3][4] Group 2: Responsible AI Framework - Atos' Responsible AI Framework adheres to the EU AI Act and incorporates best practices in governance and risk management, ensuring trust and accountability in operations [4] - The framework emphasizes a Human-in-the-Loop approach, maintaining deep expertise through continuous training and manual handling of complex alerts to avoid over-reliance on automation [4] Group 3: AI Capabilities - The integration includes advanced AI capabilities for detection, triage, and search assistance, enhancing threat identification and response prioritization based on business impact [7] - Atos has been a pioneer in integrating AI into Security Operations Center (SOC) operations since 2017, focusing on tailored use cases for customer business risks [5] Group 4: Company Overview - Atos is a leader in managed security services with over 6,500 experts and 2,500 cybersecurity patents, committed to providing AI-powered security solutions [8][10] - The company operates 17 security operations centers globally, processing over 31 billion security events daily, serving more than 2,000 customers [10]
Sable Offshore Corp. Provides Legal Updates
Businesswire· 2025-10-06 10:41
Core Viewpoint - Sable Offshore Corp. is seeking over $347 million in damages due to delays and damages related to the restart of the Las Flores Pipeline System, following a cease and desist order from the California Coastal Commission [2][3]. Group 1: Legal Actions and Claims - The company is filing a motion to amend its lawsuit to quantify monetary damages in its inverse condemnation claim against the California Coastal Commission [1]. - Sable has also filed a declaratory judgment action against the State of California to confirm that certain provisions of SB 237 do not apply to the Las Flores Pipeline System [2]. Group 2: Operational Updates - Sable is working with the State of California to safely resume petroleum transportation through the Las Flores Pipeline System in accordance with its Federal Consent Decree [3]. - The company has restarted production from the Santa Ynez Unit assets in May 2025, but has not sold commercial quantities of hydrocarbons since June 2015 [7]. Group 3: Historical Context and Future Plans - The Santa Ynez Unit produced over 160 million barrels of oil equivalent from 1981 to 1994 using an accelerated Offshore Storage and Treating Vessel strategy [3]. - Continued delays in the restart plans may lead Sable to pursue the Offshore Storage and Treating Vessel strategy again [3]. Group 4: Company Overview - Sable Offshore Corp. is an independent oil and gas company based in Houston, Texas, focused on developing the Santa Ynez Unit in federal waters offshore California [4].
Sable Offshore (SOC) Ends Losses, Jumps 14.9% on Bullish Rating, PT
Yahoo Finance· 2025-10-02 07:48
Core Insights - Sable Offshore Corp. (NYSE:SOC) experienced a significant rebound, rising 14.89% to close at $20.06, following a bullish investment rating and price target from Benchmark [1][2] - Benchmark set a "buy" recommendation for Sable Offshore with a price target of $47, indicating a potential upside of 134% from the current price [1][2] Financial and Operational Developments - The company plans to allocate $100 million in capital expenditures to implement an alternative strategy involving an "offshore storage and treating vessel" for crude oil transportation [3] - Operating expenses for this new plan are estimated to be between $3 and $4 per barrel of oil equivalent [3] Regulatory and Strategic Considerations - Sable Offshore is actively working with the State of California to resume petroleum transportation through its onshore pipeline, which is subject to regulatory approvals [4] - Delays in the onshore pipeline operations may lead Sable to revert to a previously used offshore strategy for processing production [4]
Notice to All Long Term Shareholders of Sable Offshore Corp: Johnson Fistel Continues Investigation On Behalf of Your Claims
Globenewswire· 2025-10-01 21:30
Core Viewpoint - Johnson Fistel, PLLP has initiated an investigation into Sable Offshore Corp. for potential breaches of fiduciary duties and violations of federal securities laws [1] Group 1: Investigation Details - The investigation follows a class action complaint alleging that Sable Offshore Corp. made false and misleading statements regarding the restart of oil production off the coast of California during the Class Period from May 19, 2025, to June 3, 2025 [2] - The complaint claims that the defendants failed to disclose that oil production had not actually restarted, rendering their positive statements about the company's business and prospects materially false and misleading [2] Group 2: Shareholder Rights - Current stockholders who held Sable Offshore Corp. stock before May 19, 2025, are encouraged to contact Johnson Fistel to discuss their legal rights in this matter [3]
SABLE OFFSHORE ALERT: Bragar Eagel & Squire, P.C. is Investigating Sable Offshore Corporation on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm
Globenewswire· 2025-09-29 21:13
Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against Sable Offshore Corporation (NYSE:SOC) following a class action lawsuit filed on July 28, 2025, concerning alleged breaches of fiduciary duties by the company's board of directors during the class period from May 19, 2025, to June 3, 2025 [1][5]. Company Details - Sable Offshore conducted a secondary public offering (SPO) on May 21, 2025, issuing 10 million shares at $29.50 per share, raising $295 million [5]. - Allegations in the class action lawsuit state that Sable Offshore misrepresented its oil production status, claiming it had restarted operations when it had not [5]. - A letter from California's Lieutenant Governor on May 23, 2025, indicated that Sable Offshore's press release mischaracterized its activities, leading to public confusion and questioning the company's intentions [5]. - Following the letter's revelation, Sable Offshore's stock price fell over 15% [5]. - On June 4, 2025, it was disclosed that a court granted temporary restraining orders preventing Sable Offshore from restarting oil transportation through the Las Flores Pipeline System, causing further declines in stock price [5]. Legal and Contact Information - Long-term stockholders of Sable Offshore are encouraged to contact Bragar Eagel & Squire for discussions regarding their legal rights and potential claims [1][3]. - The law firm specializes in representing individual and institutional investors in complex litigation across various jurisdictions [4].
Sable Offshore Corp. Announces Alternative Offtake Strategy
Businesswire· 2025-09-29 20:51
Core Viewpoint - Sable Offshore Corp. has announced a new alternative offtake strategy aimed at enhancing its operational flexibility and market reach [1] Group 1: Company Strategy - The alternative offtake strategy is designed to optimize the company's supply chain and improve its ability to respond to market demands [1] - This strategy may involve diversifying its customer base and exploring new markets to increase revenue streams [1] Group 2: Industry Implications - The announcement reflects a broader trend in the offshore industry where companies are seeking innovative approaches to adapt to changing market conditions [1] - By implementing this strategy, Sable Offshore Corp. positions itself to better navigate potential fluctuations in demand and pricing within the offshore sector [1]
Here is Why Sable Offshore (SOC) Plummeted This Week
Yahoo Finance· 2025-09-26 16:04
Core Viewpoint - Sable Offshore Corp. (NYSE:SOC) experienced a significant decline in share price due to legal challenges and regulatory pressures impacting its operations in California's offshore oil industry [1][3][4]. Group 1: Company Overview - Sable Offshore Corp. is an independent upstream company based in Houston, focusing on the development of the Santa Ynez Unit in federal waters offshore California [2]. Group 2: Recent Developments - The company's share price fell by 16.25% from September 18 to September 25, 2025, making it one of the worst-performing energy stocks during that week [1]. - The Santa Barbara County district attorney accused Sable Offshore of violating state laws that protect streams and wetlands, complicating its efforts to restart operations at three oil platforms [3]. - Sable Offshore has denied the allegations, labeling them as 'politically motivated' and 'extremely misleading' [3]. - Additionally, California Governor Newsom proposed a legislative package that would impose further restrictions on the offshore oil industry, directly affecting Sable's plans to reactivate a pipeline off Santa Barbara County [4].
FINAL DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Sable Offshore
Businesswire· 2025-09-26 13:28
Core Points - Faruqi & Faruqi, LLP is investigating potential claims against Sable Offshore Corp. (NYSE: SOC) [1] - Investors are reminded of the September 26, 2025 deadline to seek the role of lead plaintiff in a federal securities class action filed against the Company [1] - Faruqi & Faruqi is a prominent national securities law firm with offices in New York, Pennsylvania, California, and Georgia [1]
Shareholders that lost money on Sable Offshore Corp.(SOC) Urged to Join Class Action - Contact Levi & Korsinsky to Learn More
Prnewswire· 2025-09-26 13:00
Core Viewpoint - A class action securities lawsuit has been filed against Sable Offshore Corp. due to alleged securities fraud affecting investors who purchased shares between May 19, 2025, and June 3, 2025 [2][3]. Group 1: Lawsuit Details - The lawsuit aims to recover losses for investors who were misled by false statements regarding the company's oil production activities off the coast of California [3]. - Allegations include that Sable Offshore Corp. falsely claimed to have restarted oil production when it had not, leading to materially false and misleading statements about the company's business and operations [3]. Group 2: Investor Information - Investors who suffered losses during the specified timeframe have until September 26, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [4]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [4]. Group 3: Legal Representation - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [5].