The capital spend across Sable’s assets is expected to be approximately $180 million from April 2026 through December 2026 as it focuses on facility upgrades, maintenance capex, and low-cost production optimization operations. Regarding the previously announced litigation against the California Coastal Commission (CCC), the firm is actively pursuing damages of at least $347 million.
The company is seeking financial damages, expected to be in excess of $100 million, from the County of Santa Barbara for allegedly unlawfully withholding the transfer of certain permits to the U.S. player from the prior operator.
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Jim Flores , Sable’s Chairman and Chief Executive Officer, emphasized: “Sable is pleased to update its stakeholders on our tremendous progress following the invocation of the Defense Production Act.
“We are working tirelessly to provide American oil from American soil to consumers in California and the U.S. military and are proud to have produced over 1 million barrels from the Santa Ynez Unit to date.”