Sable Offshore (SOC): $11.81
Market Cap: $1.18B
Enterprise Value: $928M
Introduction
While driving back to the San Francisco Bay Area from Los Angeles last month, we decided to take the scenic route back along the California coast to check out the “Danish Capital of America” Solvang that friends had mentioned to me. As we drove north on Highway 1 approaching Santa Barbara, I could see offshore oil platforms that looked like they were part of the Santa Ynez Unit that Sable Offshore (SOC) acquired from ExxonMobil (XOM) in February 2024.