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Crude Oil Moves Higher; Sable Offshore Shares Slide
Benzinga· 2024-09-20 18:16
Market Overview - U.S. stocks traded mostly lower, with the Nasdaq Composite falling approximately 0.5% on Friday, while the Dow increased slightly by 0.01% to 42,029.86 and the S&P 500 dropped 0.32% to 5,695.11 [1] - Utilities shares saw a notable increase of 2.3%, while industrials shares fell by 0.6% [1] Company Performance - Banzai International, Inc. shares surged by 87% to $5.36 following a 1-for-50 reverse stock split [2] - Battalion Oil Corporation shares rose by 122% to $6.54 after amending its merger agreement with Fury Resources, offering $7.00 per share in cash [2] - Constellation Energy Corporation shares increased by 19% to $248.26 after signing a 20-year power purchase agreement with Microsoft [2] - Corbus Pharmaceuticals Holdings, Inc. shares plummeted by 60% to $20.52 despite an Outperform rating and a price target of $82 from RBC Capital [3] - Sable Offshore Corp. shares decreased by 19% to $23.06 after announcing a $150 million private placement [3] - FedEx Corporation shares fell by 13% to $260.55 due to weaker-than-expected first-quarter results and lowered full-year guidance [3] Commodity Market - Oil prices increased by 0.6% to $72.38, while gold rose by 1.4% to $2,650.00 [4] - Silver traded up 0.5% to $31.62, whereas copper saw a slight decline of 0.1% to $4.3425 [4] European Market - European shares closed lower, with the eurozone's STOXX 600 falling by 1.42%, Germany's DAX declining by 1.49%, and France's CAC 40 dropping by 1.51% [5] - Spain's trade deficit narrowed to EUR 3.2 billion in July from EUR 4.9 billion year-over-year [5] - The manufacturing climate indicator in France decreased to 98.6 in September from 98.9 in the previous month [5] Asia Pacific Market - Asian markets closed higher, with Japan's Nikkei 225 gaining 1.53%, Hong Kong's Hang Seng Index surging 1.36%, and India's BSE Sensex increasing by 1.63% [6]
Sable Offshore(SOC) - 2024 Q2 - Quarterly Results
2024-08-13 20:29
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, par value $0.0001 per share SOC The New York Stock Exchange Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share SOC.WS The New York Stock Exchange FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANG ...
Sable Offshore(SOC) - 2024 Q2 - Quarterly Report
2024-08-13 20:07
Table of Contents __________________________ Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, par value $0.0001 per share SOC The New York Stock Exchange Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share SOC.WS The New York Stock Exchange __________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______ ...
SABLE OFFSHORE (SOC) Is a Great Choice for 'Trend' Investors, Here's Why
ZACKS· 2024-07-22 13:51
A solid price increase over a period of 12 weeks reflects investors' continued willingness to pay more for the potential upside in a stock. SOC is quite a good fit in this regard, gaining 52.6% over this period. Our "Recent Price Strength" screen, which is created on a unique short-term trading strategy, could be pretty useful in this regard. This predefined screen makes it really easy to shortlist the stocks that have enough fundamental strength to maintain their recent uptrend. Also, the screen passes onl ...
Sable Offshore(SOC) - 2024 Q1 - Quarterly Results
2024-05-15 20:54
Financial Performance - Sable Offshore Corp. reported a net loss of $180.1 million for Q1 2024, primarily due to expenses related to the Business Combination and a legal settlement[4]. - Sable ended Q1 2024 with outstanding debt of $771.2 million and a cash balance of $209.1 million[4]. Business Combination and Funding - The company raised a total of $502.4 million to complete the Business Combination, including $440.2 million in PIPE investments and $62.2 million from the IPO[4]. Resource Estimates - Total Net Estimated Contingent Resources increased by 21% to 646 MMboe, with a PV-10 value of $10.0 billion, up from $4.9 billion in December 2023[4]. - The estimated cash flows from the Development Drilling Program Best Estimate are projected at $4.81 billion, with a total best estimate contingent resources of 467 MMboe[5]. Production Plans - Sable expects to restart production at the Santa Ynez Unit in September 2024, with an anticipated initial net production rate of approximately 28,000 BOE/D[10]. - Cash costs per BOE are projected to be $19.00 for lease operating expenses and $3.50 for gathering, processing, and transportation in Q4 2024[6]. Operational Expansion - The company has hired 48 former ExxonMobil field employees and added 24 additional employees as part of its operational expansion[4]. Legal Matters - A fairness hearing for the legal settlement related to Sable-owned pipelines is scheduled for September 13, 2024[4]. Environmental Initiatives - The company has initiated a carbon sequestration business planning phase, intending to utilize Sable-owned infrastructure for offshore carbon sequestration[10].
Sable Offshore(SOC) - 2024 Q1 - Quarterly Report
2024-05-15 20:38
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-40111 SABLE OFFSHORE CORP. (Exact name of registrant as specified in its charter) Delaware 85-3514078 (State or othe ...
Sable Offshore(SOC) - Prospectus(update)
2024-04-30 00:53
Table of Contents As filed with the Securities and Exchange Commission on April 29, 2024. Registration No. 333-277072 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM S-1 REGISTRATION STATEMENT UNDER Gregory D. Patrinely Executive Vice President and Chief Financial Officer Sable Offshore Corp. 845 Texas Avenue, Suite 2920 Houston, Texas 77002 (713) 579-6106 (Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service) THE ...
Flame Acquisition (FLME) - Prospectus(update)
2024-04-30 00:53
Table of Contents As filed with the Securities and Exchange Commission on April 29, 2024. Registration No. 333-277072 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Sable Offshore Corp. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization) Delaware 1311 85-3514078 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer ...
Flame Acquisition (FLME) - Prospectus(update)
2024-04-12 20:09
Table of Contents As filed with the Securities and Exchange Commission on April 12, 2024. Registration No. 333-277072 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Sable Offshore Corp. (Exact Name of Registrant as Specified in Its Charter) FORM S-1 (State or Other Jurisdiction of Incorporation or Organization) Delaware 1311 85-3514078 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer ...
Sable Offshore(SOC) - Prospectus(update)
2024-04-12 20:09
Table of Contents As filed with the Securities and Exchange Commission on April 12, 2024. Registration No. 333-277072 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Sable Offshore Corp. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization) Delaware 1311 85-3514078 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer ...