Sable Offshore Corp.
09/29/2026 | Press release | Distributed by Public on 09/29/2026 15:15
Sable Offshore Corp. Provides Operational Update (Form 8-K)
Sable Offshore Corp. Provides Operational Update
Houston, September 28, 2026 - Sable Offshore Corp. ("Sable") (NYSE: SOC) today provides the following operational update focused on the pending restart of Platform Hondo, ongoing Las Flores Canyon Midstream Processing Facility ("LFC") upgrades, and the current status of oil midstream and marketing.
Platform Hondo
•Platform Hondo reconstruction and internal operational commissioning are complete. Over the course of Sable's recommissioning period, Sable has modernized Platform Hondo from a manually controlled platform to one with up-to-date technology and safety standards.
•Sable has been working productively with the Marine Minerals Administration (the "MMA") throughout Platform Hondo recommissioning and anticipates the MMA's final review and approval of the Platform Hondo instrumentation, control, and safety commissioning submission in October 2026.
•Instrumentation, controls, and additional safety testing and commissioning are expected in October 2026. Sable continues to prioritize the safe and sustainable long-term operational viability of Platform Hondo.
•Sable plans to accelerate and complete 4 additional Perforation Addition ("Perf Add") operations on Platform Hondo ahead of an expected Q4 2026 platform restart.
•The 4 additional Perf Adds are expected to result in completed Perf Adds on 9 of the 15 production wells on Platform Hondo ahead of restart as opposed to the previously expected 5 completed Perf Adds pre-restart.
•Each Perf Add is estimated to produce an incremental ~600 barrels of oil per day to the base well production at a cost of approximately $800,000 per operation.
LFC
•Due to robust production from Platform Harmony and Platform Heritage and the expected production from Platform Hondo, Sable is planning to complete operational and facility upgrades at LFC to increase emulsion processing capacity.
•Currently, LFC has been able to process approximately 80% of the productive capacity of Platforms Harmony and Heritage. These upgrades are expected to allow LFC to safely and efficiently handle production from all three Santa Ynez Unit platforms at their full productive capacities.
•Completing the LFC operational and facility upgrades ahead of the restart of Platform Hondo is expected to allow Sable to flow all SYU wells, maintain continuous operations and reduce downtime in Q4 2026.
Current Sales, Midstream and Marketing
•Sable's preliminary estimate of oil sales during the months of July and August is approximately 32 thousand gross barrels of oil per day averaged over the two months, with September oil sales volumes expected to be approximately 34 thousand gross barrels of oil per day.
•Sable is working closely with midstream and downstream partners to alleviate third party sales constraints experienced in the second half of August and September 2026.
•Nominations to our crude purchaser are expected to increase to an average of 38 thousand gross barrels of oil per day in October 2026, with an October 2026 estimated exit rate of approximately 45 thousand gross barrels of oil per day prior to the expected addition of Hondo volumes.
•Sable expects increasing oil sales rates after exiting October 2026 through the end of the year.
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About Sable
Sable Offshore Corp. is an independent oil and gas company, headquartered in Houston, Texas, focused on responsibly developing the Santa Ynez Unit in federal waters offshore California. The Sable team has extensive experience safely operating in California.
Sable Offshore Corp. published this content on September 29, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on September 29, 2026 at 21:15 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]