Flame Acquisition Corp

Sable Offshore Corp. is an independent oil and gas exploration and production company focused on responsibly developing the Santa Ynez Unit (SYU), an oil and gas production unit comprising 16 federal leases, three offshore platforms (Harmony, Heritage, and Hondo), and ancillary facilities located in federal waters offshore California. The SYU is a prolific asset with approximately 15,500 MMBoe originally in place, approximately 2,200 MMBoe ultimately recoverable, and approximately 1,500 MMBoe of total remaining resources. Sable also operates the Santa Ynez Pipeline System (SYPS), an interstate pipeline system extending from the SYU to the inland oil sales point in Pentland, California, and includes the Las Flores Canyon Midstream Processing Facilities. The SYU was originally developed and operated by ExxonMobil for over 30 years before production was suspended in 2015 following a third-party onshore pipeline leak. Sable acquired the assets in 2024 and achieved first sales in March 2026 following a U.S. Department of Energy Defense Production Act order. The company's production is approximately 100% oil, priced off Brent Crude, and sold primarily to the Los Angeles refinery complex. Sable has a 100% working interest and 83.6% net revenue interest in the SYU, with a development plan centered on low-cost Perforation Additions and well optimization workovers across over 100 identified undrilled locations. Updated Aug 10, 2026