Sable Offshore Expects $180 Million in Capital Expenditures Through December, Oil Transportation Begins

MT Newswires Live04-20

Sable Offshore (SOC) said Monday that capital expenditure across its assets is expected to be around $180 million from April through December this year.

The company also said oil transportation through two segments of the Santa Ynez Pipeline System has begun.

The company said the 40 wells currently online at the Harmony and Heritage offshore platforms are producing an average of 750 barrels of oil per day per well.

Once all 74 production wells are online, Sable said it expects average production per well to be around 700 barrels of oil per day.

Sable also said it expects Platform Hondo to come online in June with an estimated fully ramped production rate of around 10,000 barrels of oil per day.

The company also said it plans to conclude a refinancing of its senior secured term loan in the second quarter of 2026.

Shares of the company were up 3.7% in Monday premarket trading.

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