Sable Offshore Corp. Announces New Senior Secured Term Loan Facility

Sable Offshore Corp. announced on June 16, 2026, the launch of a proposed senior secured term loan facility of up to $1.0 billion. This new facility is intended to replace the Company's existing Senior Secured Term Loan with Exxon Mobil Corporation. The Company also expects to pursue additional unsecured capital markets solutions. Proceeds from the new loan facility and any additional financing are intended to fund the repayment of the existing term loan, cover transaction fees and expenses, and satisfy contractual performance bonding obligations. JPMorgan Chase Bank, N.A. is expected to serve as the administrative agent for the new facility. The completion of the New Senior Secured Term Loan is subject to market conditions, negotiation and execution of definitive documents, and customary closing conditions. The company cautions that there can be no assurances regarding the success of these efforts.