Sable Offshore Surges to 289th Most Traded Stock with $296 Million Turnover

On May 19, 2025, Sable Offshore (SOC) experienced a significant surge in trading volume, with a turnover of $296 million, marking a 424.95% increase from the previous day. This substantial rise in trading volume positioned Sable Offshore as the 289th most traded stock on the day. The company's stock price also saw a notable increase, rising by 14.41% over the past two days, with a cumulative gain of 17.68%.

Sable Offshore Corp. announced a significant milestone on May 19, 2025, with the restart of oil production at the Santa Ynez Unit. This development is expected to boost the company's revenue as it anticipates oil sales from the Las Flores Pipeline System starting in July 2025. The company plans to fill the approximately 540,000 barrels of crude oil storage capacity at Las Flores Canyon by mid-June 2025, paving the way for resumed oil sales.

This restart of production at the Santa Ynez Unit is a strategic move for Sable Offshore, as it aims to capitalize on the increased demand for oil. The successful restart of production from the Harmony platform offshore California, flowing into Las Flores Canyon, further solidifies the company's operational capabilities and market position. This development has garnered positive attention from analysts, with TD Cowen raising the stock price target to $40 from $31, reflecting the market's optimism about the company's future prospects.