{"url_path":"/sec/soc/8-k/2026-06-22/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry into a Material Definitive Agreement.","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-22","source_url":"https://www.sec.gov/Archives/edgar/data/1831481/0001831481-26-000076-index.html","accession_number":"0001831481-26-000076","cik":"0001831481","ticker":"SOC","issuer_name":"Sable Offshore Corp.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1831481/0001831481-26-000076-index.html","primary_entity_key":"0001831481","primary_entity_name":"Sable Offshore Corp."},"word_count":369,"has_tables":true,"body_markdown":"Item 1.01    Entry into a Material Definitive Agreement.\n\nOn June 22, 2026, Sable Offshore Corp. (the “Company”) announced that the Company and Exxon Mobil Corporation (“Exxon”) entered into an amendment (the “Amendment”) to the Senior Secured Term Loan Agreement (the “Senior Secured Term Loan”) to, among other things, extend the Maturity Date, and agreed to a limited waiver of the Company’s P&A Financial Security obligations in Section 11.18 (c) (the “Limited Waiver”) of the Company’s November 1, 2022 Purchase and Sale Agreement (the “PSA”) with Exxon and Mobil Pacific Pipeline Company (“MPPC” and, together with Exxon , the “Sellers”).\n\nThe Amendment extends the Maturity Date of the Senior Secured Term Loan to the earlier to occur of (a) July 24, 2026, and (b) the acceleration of the Senior Secured Term Loan following any Event of Default as defined therein.\n\nThe Limited Waiver states that the Company and the Sellers have agreed to temporarily waive the requirement for the Company to provide P&A Financial Security (as defined in the PSA) within three Business Days of the Maturity Date until the earlier of (A) December 22, 2028, (B) the date on which the new money secured financing to be entered into prior to the Maturity Date for the primary purposes of refinancing the Senior Secured Term Loan is redeemed, repaid or otherwise refinanced, or (C) the date on which any Event of Default has occurred and is continuing under the Senior Secured Term Loan, or any Financing Document (as defined in the Senior Secured Term Loan) or any breach or default under any other contractual obligation to Sellers or their affiliates.\n\nPursuant to the Amendment, the Company agrees to pay Exxon a $30.0 million amendment fee on June 22, 2026. Additionally, Exxon agrees to suspend and waive the minimum liquidity covenant of $25.0 million introduced in the Second Amendment of the Senior Secured Term Loan until the amended Maturity Date.\n\nThe foregoing summary of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated into this Item 1.01 by reference."}