Odds & Ends: What I'm Watching Now

Sable Is One Step Closer To First Production, Calumet Podcast Next Week, Offshore and Coal Earnings & The Enovix Equity Raise

It’s been an interesting week on several fronts, but I think everyone is holding their breath to see what happens next week with the Presidential Election. I’m ready for the circus to be in the rearview mirror, but we will see how things play out on November 5th. Also, I have to give my condolences to the Yankees fans out there (especially the former pitchers, who were probably screaming at the TV telling Gerrit Cole to get over) after a rough World Series. The rest of us baseball fans enjoy watching the Yankees get beat, but I was hoping for a Game 6 and Game 7.

Before I get into what’s going on with some of the companies of interest, I wanted to leave a quick note here at the top of the post. My podcast with Ryan O’Connor got bumped to next week, so if you have any questions on Calumet CLMT 0.00%↑, feel free to leave a comment or shoot me a DM. I still think it’s a very interesting setup heading into the end of the year, but let’s get into it.

Sable Offshore: One Step Closer & Insider Buying

There was a meeting this week with the Santa Barbara County Planning Commission regarding Sable Offshore SOC 0.00%↑ and the permit transfer from Exxon Mobil XOM 0.00%↑. Hopefully I can save some of you the brain damage of listening to every public comment, but if you’re interested in Sable, you might find some of the questions for Sable from the Planning Commission interesting. The permit transfer was approved, so that is one less box to tick before first production. I found the recording of the meeting about as entertaining as a government meeting could be, but there were some interesting comments on both sides of the issue.

The other thing worth noting is that several insiders have been exercising their warrants over the last week. Today is the last day the warrants will be trading, but I’m looking forward to Q3 earnings and what management has to say with that update. From some of the commentary from Sable employees in Planning Commission meeting, the company is working with the CCC currently to clear things up there, but from my understanding, the maintenance and repair work falls under existing permits as required by OSFM. Once they are able to finish the repairs on the coastal section of the pipeline and perform the hydrotest, the green light from the Fire Marshal and first production shouldn’t be far behind.

Offshore Oil Services