Sable Offshore (SOC) Fell by Over 10% This Week. Here is Why

Core Viewpoint - Sable Offshore Corp. (NYSE:SOC) experienced a significant decline in share price due to legal challenges regarding its oil pipeline operations in California [1][3]. Group 1: Company Overview - Sable Offshore Corp. is an independent upstream company focused on developing the Santa Ynez Unit in federal waters offshore California [2]. Group 2: Recent Developments - The company's share price fell by 10.24% between January 16 and January 23, 2026, making it one of the worst-performing energy stocks during that week [1]. - On January 23, California's attorney general filed a lawsuit against the Trump administration, challenging the federal authority to restart Sable Offshore's oil pipeline, which was reclassified as interstate [3]. - The lawsuit is part of an ongoing dispute between California authorities and Sable Offshore, which previously received approval from the U.S. Pipeline and Hazardous Materials Safety Administration to shift the pipeline oversight from state to federal [4].