Sable Offshore (SOC) Falls Following Lawsuit by California Attorney General

Company Overview - Sable Offshore Corp. (NYSE:SOC) is an independent upstream company focused on developing the Santa Ynez Unit in federal waters offshore California [2]. Recent Developments - The share price of Sable Offshore Corp. fell by 7.19% between January 23 and January 30, 2026, making it one of the energy stocks that lost the most during that week [1]. - The decline in share price was triggered by a lawsuit filed by California Attorney General Rob Bonta, aiming to block the federal government from taking over regulatory control of two oil pipelines owned by the company [3]. - This lawsuit follows a recent victory for Sable, where the U.S. Pipeline and Hazardous Materials Safety Administration approved the company's request to shift the pipelines from state to federal oversight, citing a national energy emergency declared by President Trump [3]. - The lawsuit is part of an ongoing dispute between Californian authorities and Sable Offshore Corp., as the company seeks to restart oil production at the Santa Ynez Unit, which has been shut down since a significant oil spill in 2015 [4].