financetom
Business
financetom
/
Business
/
Sable Offshore Restarts Santa Ynez Oil Production, Shares Rise
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Sable Offshore Restarts Santa Ynez Oil Production, Shares Rise
May 26, 2025 10:05 AM

06:57 AM EDT, 05/19/2025 (MT Newswires) -- Sable Offshore ( SOC ) said Monday that it restarted production at the Santa Ynez Unit, with oil now flowing to Las Flores Canyon at about 6,000 barrels per day.

The company said it also completed anomaly repairs on the Las Flores Pipeline System, meeting key requirements under the Consent Decree governing the pipeline's restart.

Seven of eight pipeline sections have passed hydrotesting, and a final test is set for completion soon, allowing the operational restart of the Onshore Pipeline, the company said.

Sable expects to fill the 540,000-barrel storage facility at Las Flores Canyon by mid-June and resume oil sales in July.

Well testing on Platform Harmony has been underway throughout May, with tested wells outperforming pre-shutdown levels from 2015, the company said, adding that about 30% of Harmony's 32 wells have been tested.

Sable said it plans to begin production from an additional 44 wells on Platform Heritage in July and 26 more on Platform Hondo in August.

Shares of the company rose more than 15% in recent premarket activity.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US withdraws from tomatoes agreement with Mexico
US withdraws from tomatoes agreement with Mexico
Jul 14, 2025
WASHINGTON (Reuters) -The U.S. Commerce Department said on Monday it was withdrawing from a 2019 deal suspending an anti-dumping duty investigation on fresh tomatoes from Mexico, and that it will issue duties of 17.09% on most of those imports from the U.S. neighbor. Antidumping duties are calculated to measure the percentage by which Mexican tomatoes have been sold in the...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Longevity Health to Merge With THPlasma in $79 Million Deal; Terminates 20/20 BioLabs Transaction
Longevity Health to Merge With THPlasma in $79 Million Deal; Terminates 20/20 BioLabs Transaction
Jul 14, 2025
05:33 PM EDT, 07/14/2025 (MT Newswires) -- Longevity Health ( XAGE ) said late Monday it will merge with THPlasma in an all-stock deal valued at $59 million plus $20 million earnout related to the achievement of financial results. Longevity also terminated the 20/20 BioLabs transaction. The company's deal with THPlasma, which operates a chain of plasma collection centers in...
Paramount Australia to Expand Ad Reach on Streaming Service With Magnite
Paramount Australia to Expand Ad Reach on Streaming Service With Magnite
Jul 14, 2025
05:31 PM EDT, 07/14/2025 (MT Newswires) -- Paramount Global's ( PARAA ) Australian unit and Magnite ( MGNI ) said Monday they plan to collaborate to offer programmatic access to Paramount+'s premium streaming TV inventory in Australia. Under the agreement, Paramount will utilize Magnite SpringServe video platform after the launch of its ad-supported plan to allow advertisers to reach relevant...
Copyright 2023-2026 - www.financetom.com All Rights Reserved