Disclaimer FORWARD LOOKING STATEMENTS The information in this presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this presentation, the words could,…
Sable Offshore Corp. (NYSE: SOC) Premier offshore California asset paired with experienced management team Santa Ynez Unit (SYU) is a massive oil-weighted resource Santa Ynez Unit Three offshore platforms located in federal waters…
SYU History Premier offshore project developed by Exxon over 40+ years SYU Development Background Discovered in 1968, over the course of 14 years Exxon consolidated more than a dozen offshore federal oil leases into a streamlined…
SYU Technical Overview Significant production history and massive resource potential Santa Ynez Unit Overview Between 1981 and 2014, SYU produced over 671 MMBoe Production averaged 29 MBbl/d and 27 MMcf/d in 2014 (gross), the last…
Las Flores Canyon Infrastructure Wholly-owned infrastructure at Las Flores Canyon reduces cash costs Las Flores Canyon Cogeneration & Processing Facility Fully integrated oil and gas processing facilities acquired by Sable for…
SYU Acreage Overview SYU leases are all located in Federal waters Santa Ynez Unit Overview Bakersfield Offshore Position San Francisco Refineries Los Angeles Refineries 16 Federal Leases, 76,000 acres First leased in 1969 Line…
Undrilled Inventory New Drill Inventory Overview Technical opportunity inventory is based on 80-acre drainage area, maturing field from original 120 acre spacing Future development strategy focuses on the high-quality Monterey Upper…
Harmony Platform Commenced Restart Production Initial well tests at Harmony Platform have exceeded expectations Production Restart: May 15, 2025(1) Estimated 2H25 net production: 15.0 19.0 MBoe/d(2) Harmony Platform Wells: 32…
Sable Operational Plan Maintain, re-allocate, and optimize total capital spend to grow initial flush production rates Projected Development Plan 60,000 600 Projected Average Net Production (BOE/D) 50,000 500 Projected…
Substantial Resource Base Contingent Resource Summary(1)(2)(3) Net Estimated Contingent Resources Estimated Cash Flows (MM) Oil Gas NGL Total Capex PV-10 Resource Category (MMBbls) (Bcf) (MMBbls) (MMBoe) (MM) SEC Pricing NSAI…
Key Milestones Sable is steadily advancing through regulatory and technical milestones February 14, 2024 May 23, 2024 July 11, 2024 August 30, 2024 September 26, 2024 BOEM(1) approved Completed Safety valve assignments of OSFM(3)…
Health, Safety, and Environmental Highlights Sable management team is an award-winning, safe, and prudent California Operator Offshore California Highlights Onshore California Highlights 2004: Received Santa Barbara Countys First and…
Financial Overview 2H 2025 Financial Guidance(1) Financial Objectives 2H25 Guidance Prior Guidance (2) Updated Guidance Production Refinance 1st lien term loan Net Average Daily Production (BOE/D) 20,000 25,000 40,000 50,000 Working…
Attractive Production & Resources Profile at a Discount Substantial production base that is 83% oil with decades of 45 MBoe/d productive history I Large Production Base Net Production Midpoint Forecast for 2H 2025 Initial well tests…
Key Investment Highlights Premier asset and experienced management team drive shareholder value Attractive Returns Low-Cost, low-decline assets enable an aggressive shareholder return program via dividends and share repurchases…
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