- Sable stated that it expects the first sale of hydrocarbons produced at its Santa Ynez Unit in April 2026 at an expected gross oil rate of 50,000 barrels per day.
- The company said it anticipates a ramp-up in production, with full resumption at Platforms Harmony and Heritage this month and at Platform Hondo in June 2026.
- Wright added that Sable’s production capacity could contribute to a 15% increase in California’s in-state oil production, replacing nearly 1.5 million barrels of foreign crude each month.
Sable Offshore Corp. (SOC) shares soared more than 16% in Monday’s pre-market trade after the company announced that it has resumed the flow of oil produced at the Santa Ynez Unit (SYU) through Las Flores Canyon to Pentland Station in California.
Sable stated that the resumption of oil flow between the two locations has been undertaken in accordance with an order issued by Energy Secretary Chris Wright. The order, issued on March 13, directed Sable to immediately prioritize and allocate pipeline transportation services for hydrocarbons between the two units.
Retail sentiment on Stocktwits around Sable Offshore trended in the ‘extremely bullish’ territory with message volumes at ‘extremely high’ levels. SOC was among the top trending tickers on Stocktwits at the time of writing.
First Sale Expected In April
Sable stated that it expects the first sale of hydrocarbons produced at its Santa Ynez Unit (SYU) in April 2026 at an expected gross oil rate of 50,000 barrels per day.
The company said it anticipates a ramp-up in production, with full resumption at Platforms Harmony and Heritage this month and at Platform Hondo in June 2026.
“Sable Offshore is putting California consumers first by increasing domestic supply of crude oil into the California market by approximately 17% and we look forward to continuing to execute as so ordered by the Defense Production Act executed on March 13, 2026,” said Sable CEO Jim Flores.
What Did Wright Order?
On March 13, Wright ordered Sable to restore operations of the Santa Ynez Unit and Santa Ynez Pipeline System. He stated that California’s policies have left the region and U.S. military forces dependent on foreign oil.
“Today’s order will strengthen America’s oil supply and restore a pipeline system vital to our national security and defense, ensuring that West Coast military installations have the reliable energy critical to military readiness,” he said.
Wright added that Sable’s production capacity could contribute to a 15% increase in California’s in-state oil production, replacing nearly 1.5 million barrels of foreign crude each month.
He stated that while California once supplied about 40% of U.S. oil production, 60% of its refined oil is now imported from overseas suppliers. Wright added that a “significant” share of these imports travels through the Strait of Hormuz, which Iran has currently blocked, presenting “serious national security threats,” according to the Energy Secretary.
SOC stock is up 87% year-to-date, but down 29% over the past 12 months. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) is up nearly 37% over the past 12 months, while the iShares Russell 2000 ETF (IWM) is up 24%.
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