Proposal would impact Sable’s efforts to reactivate pipeline

Proposal would impact Sable’s efforts to reactivate pipeline

Sable Offshore Corp. (SOC) is facing potential challenges to its plans to reactivate its offshore pipeline following the introduction of a new proposal and a class-action lawsuit. The proposal, AB 1448, and the Petroleum Market Stabilization trailer bill, could impact the company's timeline and approval process for the Fire Marshal approval, according to industry analysts. While AB 1448 is more likely to be passed, it will not go into effect until January 1, 2026 [1].

The Petroleum Market Stabilization trailer bill, if passed, would have immediate effects and could lead to uncertainty about the Fire Marshal approval timeline. Analysts believe that the trailer bill is unlikely to be passed, but the uncertainty surrounding its potential impact has contributed to recent market volatility [1].

In addition to regulatory challenges, Sable Offshore Corp. is also facing a class-action lawsuit. The Gross Law Firm has notified shareholders of a class-action lawsuit alleging that the company made false statements about restarting oil production off the coast of California [2]. The lawsuit alleges that investors suffered damages as a result of these misrepresentations. The deadline for shareholders to register for this class action is September 26, 2025 [2].

Another investor rights law firm, Bernstein Liebhard LLP, has also reminded shareholders of the upcoming deadline for this lawsuit [3]. The lawsuit alleges violations of the Securities Act of 1933 and the Securities Exchange Act of 1934, and the deadline for lead plaintiff appointment is September 26, 2025 [3].

Sable Offshore Corp. must navigate these regulatory and legal challenges to successfully reactivate its pipeline. The company's ability to secure necessary approvals and address the allegations in the lawsuit will be crucial for its future prospects.

References:

[1] https://www.kontrariankorner.com/p/sable-offshore-the-trailer-trash

[2] https://www.morningstar.com/news/pr-newswire/20250908ny66785/soc-lawsuit-alert-the-gross-law-firm-notifies-sable-offshore-corp-investors-of-a-class-action-lawsuit-and-upcoming-deadline

[3] https://www.globenewswire.com/news-release/2025/09/08/3146229/0/en/SABLE-OFFSHORE-CORP-NYSE-SOC-SHAREHOLDER-ALERT-Bernstein-Liebhard-LLP-Reminds-Sable-Offshore-Corp-Investors-of-Upcoming-Deadline.html