Core Viewpoint - Sable Offshore Corp. (NYSE:SOC) is experiencing a significant increase in share price due to positive developments regarding its pipeline project and federal support for offshore drilling [1][3]. Group 1: Company Developments - Sable Offshore Corp. is focused on developing the Santa Ynez Unit in federal waters offshore California [2]. - The company is seeking federal approval to restart its oil and gas pipeline near Santa Barbara, which had previously faced regulatory challenges at the state level [3]. - A formal request has been filed with the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) to shift oversight of the Santa Ynez-Pentland Station pipeline from state to federal, as it qualifies as an interstate pipeline facility under the Pipeline Safety Act [3]. Group 2: Market Reaction and Support - The share price of Sable Offshore surged by 9.22% between December 5 and December 12, 2025, indicating strong investor confidence [1]. - The company is optimistic that federal approval will facilitate the pipeline's restart, especially given the White House's recent support for expanding offshore drilling projects, including new leases off the California coast [4].

Core Insights - Weak crude prices have significantly impacted merger and acquisition activity in the U.S. upstream oil and gas sector during the third quarter [1] Group 1 - The analytics firm Enverus reported a decline in M&A activity due to persistently low crude prices [1]