The share price of Sable Offshore Corp. (NYSE:SOC) fell by 27% between May 27 and June 3, 2025, putting it among the Energy Stocks that Lost the Most This Week. Let’s shed some light on the development.
An oil rig surrounded by the expanse of sea, the pumping operations in progress.
Sable Offshore Corp. is a Houston-based independent upstream company focused on developing the prolific Santa Ynez Unit in federal waters offshore California.
After gaining over 76% in May, Sable Offshore Corp. suffered a major setback last week after the California Coastal Commission secured a preliminary injunction against the company’s pipeline repair and maintenance activities within the coastal zone of Santa Barbara County. The situation got worse for SOC this week when there was a second court action, barring Sable from restarting operations with the pipeline while a lawsuit related to the restart is being resolved. After a massive wave of positive investor sentiment, the company is now faced with potential project delays and additional costs, causing frustration among its shareholders.
READ NEXT: 10 Cheap Energy Stocks to Buy Now and 15 Best Large Cap Energy Stocks to Buy According to Hedge Funds
