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Sable on track to restart Santa Ynez operations, says Jefferies

Sable on track to restart Santa Ynez operations, says Jefferies

Jefferies analyst Lloyd Byrne attributes the recent share rally in Sable Offshore (SOC) to Superior Court of California Judge Donna Geck's ruling that allows the company to proceed with restarting pipelines 324 and 325 and commence first oil sales in August, once the terms to lift the injunction are met. Sable is on track to have the injunction lifted and to restart Santa Ynez Unit operations, the analyst tells investors in a research note. The firm points that the petitioners have indicated they will seek a delay in lifting the injunction. Jefferies keeps a Buy rating on Sable Offshore with a $38 price target
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