Sable’s update includes production and sales information, but nothing about the pipeline anomalies. Summary:
- Platform Hondo modernization and operational commissioning are complete. (Hondo is the last of the 3 platforms to come online.)
- Sable anticipates Federal (MMA) approval of the Platform Hondo instrumentation, control, and safety commissioning this month.
- Each of Hondo’s 9 perforation additions (Perf Adds) are expected to add ~600 barrels of oil per day to the base well production at a cost of approximately $800,000 per operation.
- Completing the Los Flores Canyon (LFC) operational and facility upgrades ahead of the restart of Platform Hondo is expected to allow the flow of all SYU wells, maintain continuous operations and reduce downtime in Q4 2026.
- Sable’s preliminary estimate of oil sales during the months of July and August is approximately 32 thousand gross barrels of oil per day averaged over the two months, with September oil sales volumes expected to be approximately 34 thousand gross barrels of oil per day.
- Sable is working with midstream and downstream partners to alleviate third party sales constraints experienced in the second half of August and September 2026. (This is presumably why July/Aug sales were lower than previously forecast.)
- Nominations to Sable’s crude purchaser are expected to increase to an average of 38 thousand gross barrels of oil per day in October 2026. An October 2026 estimated exit rate of approximately 45 thousand bopd prior to the expected addition of Hondo volumes.
- Sable expects increasing oil sales rates after this month.
Also Sable related:
- Gov. Newsome has signed AB 1448 which adds more obstacles for Sable and other OCS producers. (More on AB 1448.)
- A Houston Chronicle article about Sable CEO Jim Flores focuses on his compensation.
- Sable advocate Phil Mickelson is reported to have voluntarily checked himself into an addiction treatment center. We wish him well.
