1001 ET - Sable Offshore is closer than ever to relaunching oil production at its Santa Ynez Unit after a federal appeals court denied an emergency stay requested by environmental groups, Benchmark analyst Subash Chandra writes in a note. The case is still ongoing, but the ruling in the 9th Circuit Court of Appeals is a promising sign, Chandra writes. After a confusing series of rulings in state court over the Santa Ynez Unit, he writes, "this initial outcome in a Federal court is a relief." He adds that shares could double once oil production restarts and Sable recapitalizes its debt to Exxon Mobil. Shares are up 20% to $10.86. (elias.schisgall@wsj.com)

(END) Dow Jones Newswires

January 02, 2026 10:01 ET (15:01 GMT)

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