Sable Offshore Corp.

10/10/2025 | Press release | Distributed by Public on 10/10/2025 04:13

Material Event (Form 8-K)

Item 8.01
Other Events.
On October 9, 2025, Sable Offshore Corp. (the "Company") updated its Development and Production Plan for the Santa Ynez Unit ("DPP") through submission to the U.S. Department of the Interior Bureau of Ocean Energy Management ("BOEM").
In its updated submission to BOEM, Sable included information regarding execution of activities described in the approved DPP as well as additional operating information consistent with the long production history of the Santa Ynez Unit utilizing offshore processing, storage and offloading crude oil described and reserved in the approved DPP.
Sable's existing and approved DPP contemplates the option for Sable to utilize an Offshore Storage and Treating Vessel ("OS&T") to process production from the Santa Ynez Unit, with produced oil loaded into shuttle tankers in federal waters off the coast of Santa Barbara and sold at various refineries outside of California as an alternative to supplying California refineries through the fully restored and hydrotested onshore Las Flores Pipeline System.
Sable continues to work diligently with the State of California to safely and responsibly resume petroleum transportation through the onshore Las Flores Pipeline System in accordance with the Federal Consent Decree. Continued delays in approving the restart plans for the Las Flores Pipeline System will cause Sable to fully pivot to its accelerated OS&T strategy.
The information contained in this 8-K is summary information that is intended to be considered in the context of the Company's Securities and Exchange Commission filings and other public announcements. The Company undertakes no duty or obligation to publicly update or revise this information, although it may do so from time to time.
The information furnished pursuant to this Item 8.01, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act.
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