04:24 AM EST, 11/15/2024 (MT Newswires) -- Sable Offshore ( SOC ) reported a Q3 net loss Thursday of $255.6 million.

Two analysts polled by Capital IQ expected a loss of $44.1 million. The company completed its business combination with Flame Acquisition in Q1.

The loss was primarily attributable to a non-cash change in fair value of warrant liabilities related to common share price and warrant price appreciation during the quarter, production restart-related operating expenses and interest expense, the company said.

At the end of the quarter, the company has cash and cash equivalents of $288.2 million.

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