Pins matching company:"Sable Offshore"

Santa Barbara Superior Court Judge Thomas Anderle finalized his tentative ruling against Sable Offshore, holding that the company's repair work at 121 sites along its 135-mile Gaviota Coast pipeline required California Coastal Commission development permits and violated the Coastal Act. The ruling leaves intact the injunction halting further repairs and keeps the Commission's $18 million fine a live issue.

The U.S. Pipeline and Hazardous Materials Safety Administration issued an emergency special permit for segments 324 and 325 of the interstate Santa Ynez Pipeline System, approving Sable Offshore's enhanced integrity management practices and setting operational conditions. It is a step toward restarting the onshore transportation that has kept Sable's restarted Santa Ynez Unit oil in storage rather than on sale.

A two-judge Ninth Circuit panel turned down an emergency appeal by the Environmental Defense Center and Center for Biological Diversity seeking to block the federal restart permit granted to Sable Offshore's Santa Ynez Unit pipelines, sending the company's stock surging. The terse December 31 order is not the end: the court put the case on an expedited schedule, with its first deadline on January 26.

A Santa Barbara Superior Court upheld its July preliminary injunction blocking Sable Offshore Corp. from restarting the Las Flores onshore pipeline system that ruptured at Refugio State Beach in 2015, requiring 10 court days' notice before any restart. The ruling also clarifies that the Trump administration's December move to seize control of the system and issue an emergency special permit does not affect the court's prior decision.

Sable Offshore resumed shipping crude from Las Flores Canyon to Pentland Station through the Santa Ynez Pipeline System on March 14, 2026, complying with a Defense Production Act order issued by Energy Secretary Chris Wright. The company expects first sales by April 1, 2026 at a gross oil rate of 50,000 Bbls/d, which it says would raise domestic crude supply into the California market by about 17%.

Santa Barbara County Judge Donna Geck refused to lift the injunction blocking Sable Offshore Corp. from restarting its Santa Ynez Unit pipelines, rejecting for the first time the company's claim that a federal Defense Production Act order overrides California law. She set a May 22 hearing on whether Sable, which resumed moving oil in March, should be held in contempt.

Sable Offshore posted a $197.0 million net loss for Q1 2026 after resuming oil sales from the Santa Ynez Unit under a U.S. Department of Energy Defense Production Act order, and ended the quarter with $956.3 million of short-term debt against $52.2 million in cash.

Sable Offshore reported $137.1 million of revenue and $9.4 million of operating cash flow for the second quarter of 2026, its first full quarter of sales since the Santa Ynez Unit restart, and ended June selling about 40,000 net barrels of oil a day.

The U.S. District Court for the Central District of California denied California's bid to suspend a Defense Production Act order requiring operation of Sable Offshore's Santa Ynez Pipeline, holding the federal order lawfully preempts state efforts to shut it down. The court also shifted pipeline safety oversight under the consent decree from California's Office of the State Fire Marshal to the federal Pipeline and Hazardous Materials Safety Administration.

Sable Offshore expects the Hondo platform offshore California to come back online in September 2026, the third Santa Ynez Unit platform restarted after Heritage and Harmony. Hondo is expected to produce lower-sulfur crude that should bring field-wide sulfur content back to normal levels.