Sable Offshore (SOC) is in a regulatory battle over Line 325, a section of pipeline connected to the company's Santa Ynez restart plan in California. The U.S. Department of Energy is forcing reactivation of Sable Offshop's unit, which still requires a state easement for pipeline maintenance. California argues it retains authority over key parts of the system, including land access and pipeline oversight. The federal push for restarting the oil lines is real, but so is the lawsuit brought by California Attorney General Rob Bonta who argues that PHMSA unlawfully federalizes the lines and approves restart steps that should still be subject to California oversight. Sable's financial situation is also a concern as oil prices are already above where they were. The company's full-year 2025 results showed a net loss of $410.2 million, cash and cash equivalents of $97.7 million, and short-term outstanding debt of $921.6 million.