Neutral
Seeking Alpha
21 days ago
Sable Offshore Offers An Interesting, But Risky, Opportunity (Rating Upgrade)
Sable Offshore Corp. shares have plunged 78.5% YTD due to severe legal and regulatory setbacks, but the current valuation appears deeply discounted. SOC faces major hurdles from California regulators, delayed pipeline restart, and denied onshore permits, threatening its preferred production ramp-up plan. Alternative monetization via offshore vessel (Option 1) is costly and slower, but both strategic paths offer potential upside at current depressed prices.