Sable Offshore's Uphill Battle: Debt, Permits, and Public Support
Update: 2025-11-10
Description
Sable Offshore Corporation faces a tumultuous journey, attempting to revive old offshore fields in California. Despite recent permit denials, debt, and short sellers bets against the company, Sables largest investor has seen a staggering loss of over $450 million in six months. The companys efforts to restart oil production are met with resistance, and its path forward seems increasingly uncertain, with the Santa Barbara Board of Supervisors rejecting permit transfers. This situation underscores the strong opposition to offshore oil development in the region, leaving Sable at a critical crossroads.
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