Business UpdateJun 1, 2026, 06:42 AM
Sable Offshore Posts Investor Presentation, Reserve Estimates; Pursues Debt Refinancing
AI Summary
Sable Offshore Corp. announced the posting of a new investor presentation and an independent reserve letter from Netherland, Sewell, & Associates, Inc. (NSAI) to its corporate website. The NSAI letter provides estimates for proved, probable, and possible developed reserves and future revenue as of May 31, 2026, with proved developed future net revenue at $1,472.3 million. The company also plans to host a conference call to discuss the presentation and is actively pursuing a refinancing of its Senior Secured Term Loan, which matures on June 26, 2026.
Key Highlights
- NSAI estimated proved developed reserves: 90.46 MBBL oil, 1.19 MBBL NGL, 77.87 MMCF gas as of May 31, 2026.
- NSAI estimated proved developed future net revenue (PV-10) at 10% discount rate: $1,472.3 million.
- Sable's investor presentation estimates total net reserves of 659 MMBoe with a PV-10 of $6,074 million (strip pricing).
- Company is pursuing refinancing of its Senior Secured Term Loan, which is scheduled to mature on June 26, 2026.
- Platforms Harmony and Heritage production exceeded expectations; Platform Hondo expected to come online in Q3 2026.
- Estimated total fully ramped gross production for SYU: ~62,000 Bo/d (52,000 Net Bo/d).
- Q2-Q4 2026E Net Average Daily Production guidance: 35.0 - 40.0 MBoe/d.
- Company plans to host a conference call on June 1, 2026, at 11:00 am EDT to discuss the presentation.
Price Impact
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