Sable extends debt maturity one month to July 24, pays $30M fee, gets P&A waiver

Filed June 22, 2026 · Period ending June 22, 2026 · ~1 min read

Key Changes

• high

  Extended senior secured term loan maturity to July 24, 2026 (one month from filing), paid Exxon $30M amendment fee for the extension, reflecting constrained negotiating position and urgent refinancing timeline.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  Exxon waived plugging and abandonment financial security requirement until December 22, 2028, allowing Sable to reduce planned new term loan size to $775M and defer immediate cash outlay for decommissioning obligations.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  Exxon suspended $25M minimum liquidity covenant until July 24, 2026, suggesting the company may be operating below that threshold and needed relief to avoid covenant breach during the extension period.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →