Sable Offshore surges as it confirms pipeline activation

Shares of U.S.-based oil and gas company Sable Offshore SOC.N surge 50% to $7.88 premarket

Company receives confirmation from the U.S. Department of Transportation's Pipeline and Hazardous Materials Safety Administration (PHMSA) that its pipeline connecting the Santa Ynez Unit to the Pentland Station terminal in Kern County, California is "active"

Earlier in October, a California judge denied the company's request to lift the state's cease and desist order related to repairs it made to an onshore pipeline system linked to the Santa Ynez project, which is why the pipeline remained inactive

As of last close. SOC up ~80% YTD