Sable Offshore Shares Jump After Pipeline Permit; Mickelson Still Reportedly 'Under Water'

Sable Offshore saw a sharp uptick in its share price after regulators approved a permit to restart a pipeline linked to the company’s 2015 spill. The permit clears a significant regulatory hurdle that had kept the line idle and kept investors on edge for years. Market participants interpreted the approval as a near-term catalyst for operational progress and potential revenue resumption, prompting the stock move.

Background: the pipeline ruptured in 2015 in what became one of the region’s most serious oil incidents in decades. The spill prompted extensive cleanup efforts, regulatory scrutiny and litigation that have continued to shape the company’s risk profile. While the permit approval is a step toward restarting operations, it does not erase legacy liabilities or guarantee immediate production. Cleanup obligations, ongoing monitoring and possible outstanding legal claims remain material considerations for investors.

Investor reaction has been a mix of relief and caution. Traders often price in near-term operational upside after a regulatory green light, but analysts and long-term holders typically emphasize unresolved environmental and legal exposure. Key factors to watch include the timeline for physical repairs, the conditions attached to the permit, required remediation measures, and any additional oversight from regulators or courts. A smooth, fully compliant restart could support further gains, whereas new regulatory conditions or legal setbacks could re-introduce volatility.

Separately, reports indicate that Phil Mickelson remains "under water" on certain investments, continuing a narrative about high-profile individual investors facing losses. The specifics of those positions were not detailed in the initial report cited here; readers should consider publicly available disclosures and follow-up reporting for confirmation and context.

Outlook: the permit approval is a meaningful development for Sable Offshore but not a definitive resolution of all risks tied to the 2015 incident. Investors should weigh potential operational benefits against lingering environmental liabilities, regulatory oversight and legal uncertainty. For market watchers, the coming weeks will be instructive as the company and regulators clarify the restart timetable, compliance requirements and any financial implications tied to remediation and settlements.