California Assets Transfer: Sable Offshore Corp. Acquires ExxonMobil’s Offshore Assets Through Merger with Flame Acquisition

Flame Acquisition Shareholders Vote in Favor of Sable Offshore Business Merger

In November 2022, the companies Flame Acquisition, Sable Offshore Holdings, LLC, and Sable Offshore Corp. entered into an agreement and plan of merger. As a result of this deal, Sable Offshore Corp. will acquire certain offshore California assets from ExxonMobil. Flame Acquisition will have about $62.2 million in its trust account prior to the business combination.

The deal is expected to close on or about Feb. 14, and shares of the combined company, Sable Offshore Corp., are expected to begin trading on the New York Stock Exchange on Feb. 15, Flame Acquisition said Monday. The announcement was made by Stephen Nakrosis at stephen.nakrosis@wsj.com.

Leave a Reply