BUZZ-Sable Offshore rises as it expects to restart SYU offshore platforms in Q2

Reuters
18 Mar
BUZZ-Sable Offshore rises as it expects to restart SYU offshore platforms in Q2

** Shares of U.S.-based oil and gas firm Sable Offshore SOC.N rise 6% to $26.89 in extended trading

** Company expects to restart production at the Santa Ynez Unit (SYU) offshore platforms off the coast of California in Q2

** SOC expects to restart the SYU offshore platforms sequentially, beginning with Harmony, followed by Heritage and then Hondo

** Company forecasts 2H25 net average daily production to be in the range of 20,000 barrels of oil equivalent per day (boepd) to 25,000 boepd

** SOC forecasts 2H25 total capital expenditure of between $70 million and $90 million

** Up to last close, stock up 10.7% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10