Sable Offshore gains after US orders restart of California offshore drilling

Sable Offshore

16/03/2026 09:16

** Shares of oil and gas producer Sable Offshore SOC.N up 6.5% at $17.93 premarket

** The Trump administration late on Friday directed SOC to restore oil drilling operations off the southern California coast

** U.S. Secretary of Energy Chris Wright told Sable to restart work at the Santa Ynez unit and Santa Ynez pipeline "to address supply disruption risks caused by California policies that have left the region and U.S. military forces dependent on foreign oil"

** As of last close, SOC up 86.6% YTD

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))