Roth Capital analyst Leo Mariani maintained a Buy rating on Sable Offshore Corp. on June 6, citing a Politico report that the Trump administration is strongly considering forming a major petroleum reserve in California. The firm sees a reasonable likelihood that Sable Offshore would be a key supplier, and Energy Secretary Chris Wright could use eminent domain to secure its state property operations, potentially rendering lawsuits moot. Benchmark also reaffirmed a Hold rating on June 2 after Sable Offshore updated its operational and financial projections, with production continuing uninterrupted at its Santa Ynez operations.
Sable Offshore Corp.Potential formation of California petroleum reserve and use of eminent domain could benefit Sable Offshore as a key supplier.