Sable Offshore Corp. is an oil and gas exploration and production company that operates the Santa Ynez Unit, a major offshore and onshore petroleum production complex in federal waters off California. The company generates revenue through the production and sale of crude oil and natural gas from offshore platforms and connected onshore processing facilities, serving domestic refinery markets and pursuing export capacity through alternative transportation strategies. The business relies on federally regulated pipeline infrastructure and onshore processing equipment to convert raw production into marketable crude and natural gas, while managing complex regulatory approvals from federal and state authorities.