Sable Offshore (SOC) Operating Expenses (2021 - 2026)
Sable Offshore's (SOC) quarterly Operating Expenses came in at $120.0 million in Q1 2026, up 100.72% YoY from $59.8 million in Q1 2025, and up 19.77% on a QoQ basis from $100.2 million in Q4 2025.
Sable Offshore (SOC) Operating Expenses (2021 - 2026) Analysis & Trends
Sable Offshore (SOC) has 6 years of Operating Expenses data on file, last reported at $120.0 million in Q1 2026.
- Quarterly Operating Expenses rose 100.72% year-over-year to $120.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $468.5 million (up 106.03% YoY) and the FY2025 annual result came in at $408.3 million, up 24.95% from the prior year.
- Operating Expenses grew to $120.0 million in Q1 2026, from $100.2 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $159.1 million in Q1 2024 to a low of $306338.0 in Q2 2022.
- A 5-year average of $56.2 million and a median of $50.8 million in 2024 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2023 — Operating Expenses jumped 7184.44% — and 2025, when it slumped 62.43%.
- Tracing SOC's Operating Expenses over 5 years: stood at $4.1 million in 2022, then surged by 538.88% to $26.4 million in 2023, then soared by 92.03% to $50.8 million in 2024, then soared by 97.42% to $100.2 million in 2025, then advanced by 19.77% to $120.0 million in 2026.
- The last three Operating Expenses figures came in at $120.0 million (Q1 2026), $100.2 million (Q4 2025), and $119.4 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Noble | 7.46 Bn | 7.01 Bn | 273.38 Mn | 689.21 Mn |
| 2 | Transocean | 6.71 Bn | 5.91 Bn | 358.00 Mn | 812.00 Mn |
| 3 | Patterson Uti Energy | 4.63 Bn | 4.43 Bn | 597.25 Mn | 1.23 Bn |
| 4 | Helmerich & Payne | 4.39 Bn | 4.16 Bn | 349.94 Mn | 846.65 Mn |
| 5 | Seadrill | 2.96 Bn | 2.60 Bn | 234.00 Mn | 377.00 Mn |
| 6 | Borr Drilling | 1.36 Bn | 1.14 Bn | - | 232.10 Mn |
| 7 | Nabors Industries | 1.30 Bn | 792.72 Mn | 309.38 Mn | 802.04 Mn |
| 8 | Precision Drilling | 1.15 Bn | 1.10 Bn | 89.29 Mn | 19.12 Mn |
| 9 | Valaris | 886.35 Mn | 345.15 Mn | 123.70 Mn | 498.70 Mn |
| 10 | Sable Offshore | 777.33 Mn | 755.73 Mn | - | 204.02 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 204.02 Mn |
| Mar 31, 2026 | 120.03 Mn |
| Dec 31, 2025 | 100.22 Mn |
| Sep 30, 2025 | 119.38 Mn |
| Jun 30, 2025 | 128.89 Mn |
| Mar 31, 2025 | 59.80 Mn |
| Dec 31, 2024 | 50.76 Mn |
| Sep 30, 2024 | 54.61 Mn |
| Jun 30, 2024 | 62.24 Mn |
| Mar 31, 2024 | 159.14 Mn |
| Dec 31, 2023 | 26.44 Mn |
| Sep 30, 2023 | 22.54 Mn |
| Jun 30, 2023 | 22.32 Mn |
| Mar 31, 2023 | 23.19 Mn |
| Dec 31, 2022 | 4.14 Mn |
| Sep 30, 2022 | 1.28 Mn |
| Jun 30, 2022 | 306,338.00 |
| Mar 31, 2022 | 424,493.00 |
| Dec 31, 2021 | 846,355.00 |
| Sep 30, 2021 | 306,668.00 |