Sable Offshore Corp. (SOC) Financial Statements (2026 and earlier)

Company Profile

Business Address 845 TEXAS AVENUE
HOUSTON, TX 77002
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 1311 - Crude Petroleum and Natural Gas (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)
Annual | Quarterly

3/31/2026
MRQ
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments97,684300,384268100323
Cash and cash equivalent97,684300,384268100323
Restricted cash and investments  35,388   
Receivables     
Inventory, net of allowances, customer advances and progress billings12,078    
Inventory12,078    
Prepaid expense   9788522
Other undisclosed current assets25,94019,503   
Total current assets:135,702355,275364188845
Noncurrent Assets
Oil and gas, successful efforts method, property and equipment, after accumulated depreciation, depletion, amortization, and impairment1,561,0521,194,447   
Prepaid expense     79
Asset, held-in-trust   63,558290,718287,516
Other noncurrent assets44,06833,450   
Total noncurrent assets:1,605,1201,227,89763,558290,718287,595
TOTAL ASSETS:1,740,8221,583,17263,923290,907288,439
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:99,353119,7536,9544,626276
Accounts payable25,23916,806   
Accrued liabilities23,92967,9096,9544,626276
Other undisclosed accounts payable and accrued liabilities50,18535,038   
Debt921,584 7,510370 
Other liabilities     
Due to related parties✕✕✕✕1,410956
Other undisclosed current liabilities 2,4889182,308330 
Total current liabilities:1,023,425120,67116,7726,7361,232
Noncurrent Liabilities
Liabilities, other than long-term debt183,094261,762   
Asset retirement obligations113,18199,683   
Deferred income tax liabilities12,8331,162   
Other liabilities19,34216,988   
Operating lease, liability  16,988   
Derivative instruments and hedges, liabilities37,738126,941   
Other undisclosed noncurrent liabilities  816,55439,21412,14912,647
Total noncurrent liabilities:183,0941,078,31639,21412,14912,647
Total liabilities:1,206,5191,198,98755,98618,88513,879
Temporary equity, including noncontrolling interest   63,520290,347287,500
Equity
Equity, attributable to parent, including:534,303384,185(55,583)(18,325)(12,939)
Common stock158   
Additional paid in capital1,642,7461,082,473   
Accumulated deficit(1,108,458)(698,296)(55,583)(18,326)(12,940)
Other undisclosed equity, attributable to parent   111
Total equity:534,303384,185(55,583)(18,325)(12,939)
TOTAL LIABILITIES AND EQUITY:1,740,8221,583,17263,923290,907288,439

Income Statement (P&L) ($ in thousands)
Annual | Quarterly

3/31/2026
TTM
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
Revenues65196   
Sublease income 65196   
Gross profit:65196   
Operating expenses(408,283)(326,751)   
Other undisclosed operating loss (65)(196)(4,919)(6,150)(1,683)
Operating loss:(408,283)(326,751)(4,919)(6,150)(1,683)
Nonoperating income (expense)9,792(290,575)(26,347)4,3165,956
Investment income, nonoperating   4,4153,98916
Other nonoperating income8,8344,193   
Interest and debt expense(88,245)(67,314)   
Income (loss) from continuing operations before equity method investments, income taxes:(486,736)(684,640)(31,266)(1,834)4,273
Other undisclosed income from continuing operations before income taxes88,24567,314   
Income (loss) from continuing operations before income taxes:(398,491)(617,326)(31,266)(1,834)4,273
Income tax expense (benefit)(11,671)48(914)(757) 
Income (loss) from continuing operations:(410,162)(617,278)(32,181)(2,591)4,273
Income before gain (loss) on sale of properties:✕✕✕✕✕4,273
Net income (loss) attributable to parent:(410,162)(617,278)(32,181)(2,591)4,273
Preferred stock dividends and other adjustments   (3,302)(2,847)(18,546)
Net loss available to common stockholders, diluted:(410,162)(617,278)(35,482)(5,438)(14,273)

Comprehensive Income ($ in thousands)
Annual | Quarterly

3/31/2026
TTM
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
Net income (loss):(410,162)(617,278)(32,181)(2,591)4,273
Comprehensive income (loss), net of tax, attributable to parent:(410,162)(617,278)(32,181)(2,591)4,273

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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