Sable Offshore (SOC) Fell by Over 10% This Week. Here is Why

The share price of Sable Offshore Corp. (NYSE:SOC) fell by 10.24% between January 16 and January 23, 2026, putting it among the Energy Stocks that Lost the Most This Week.

Sable Offshore (SOC) Fell by Over 10% This Week. Here is Why

Sable Offshore Corp. (NYSE:SOC) is an independent upstream company focused on developing the prolific Santa Ynez Unit in federal waters offshore California.

Sable Offshore Corp. (NYSE:SOC) suffered a blow on January 23 after California’s attorney general, Rob Bonta, filed a lawsuit against the Trump administration ​for asserting federal authority to restart the company’s controversial oil pipeline in the state. Mr. Bonta called the federal government’s actions of reclassifying the Las Flores pipelines as interstate ‘an unlawful power grab’, as they run between two California counties.

The lawsuit marks the latest development in a fiery dispute between the Californian authorities and Sable Offshore Corp. (NYSE:SOC). The company scored a major win last month when the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) approved its request to shift the pipeline from state to federal oversight, citing a national energy emergency declared by President Trump last year. However, the project continues to face strong local resistance, and Sable was also hit with an emergency lawsuit seeking to block the restart on December 26.

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Disclosure: None.