Overview

• In a presentation to investors, Sable Offshore said it has asked the Interior Department for expedited approval to use an offshore storage and treating vessel and shuttle tankers for the Santa Ynez Unit.
• The company says it will keep pursuing a restart of its onshore pipeline under a federal consent decree but will pivot fully to the vessel strategy if state approvals stall.
• Sable estimates the offshore vessel approach would push initial oil sales to the end of 2026 and increase costs, whereas pipeline approval could allow sales by year-end 2025.
• The move follows criminal charges filed last week by Santa Barbara County prosecutors over alleged environmental violations and an earlier $18 million fine from the California Coastal Commission.
• Environmental groups and State Sen. Monique Limón criticized the vessel proposal as risky and pointed to Sable’s compliance record, while the company said the strategy would let it market crude outside California.