Sable Offshore net loss narrows to $64.22 million in Q2 FY26; revenue turns to $137.13 million
SOC•Q2 results and operational update
- Sable Offshore posted Q2 revenue of $137.13 million, swinging from no revenue a year earlier as oil sales began in March 2026.
- Net loss narrowed to $64.22 million from $128.07 million, while operating loss improved to $66.89 million from $128.89 million.
- Operations and maintenance costs more than doubled to $113.47 million on restart-related activity, including $18.5 million of demurrage charges.
- Six-month revenue totaled $138.4 million, while the net loss widened to $261.24 million from $237.61 million.
- July refinancing raised $345 million of 6.5% Convertible Senior Notes due 2031, added a $675 million Term Loan B, and repaid the Exxon term loan.
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