Sable Offshore (SOC) Ends Losses, Jumps 14.9% on Bullish Rating, PT

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]