According to the terms of Sable's asset acquisition agreement with ExxonMobil, if Sable does not achieve restart production by or March 1, 2026, the Santa Ynez Unit assets may potentially revert to ExxonMobil without any compensation to Sable.
Resolution Criteria: This market resolves to YES if Sable Offshore Corp meets their obligation to restart production of Santa Ynez Unit assets by March 1, 2026, as confirmed by company statements, regulatory filings, or reliable news sources. It resolves to NO if Sable has not restarted production by that date.
1,000This was my first attempt at writing a question and I think I made some mistakes.
January 1, 2026 was simply the date by which Sable needed to restart production, otherwise Exxon Mobile could exercise a reassignment option and take ownership. But I doubt Exxon Mobile would exercise their option immediately on the day of.
The agreement was amended and the new date is March 1, 2026.