Sable Offshore (SOC) reported a Q3 net loss Thursday of $255.6 million.
Two analysts polled by Capital IQ expected a loss of $44.1 million. The company completed its business combination with Flame Acquisition in Q1.
The loss was primarily attributable to a non-cash change in fair value of warrant liabilities related to common share price and warrant price appreciation during the quarter, production restart-related operating expenses and interest expense, the company said.
At the end of the quarter, the company has cash and cash equivalents of $288.2 million.
Price: 20.22, Change: -2.27, Percent Change: -10.09
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