What is JPMorgan negotiating regarding Sable Offshore’s debt, and what are the key terms mentioned?

JPMorgan Chase & Co. is in talks with investors to refinance Sable Offshore Corp.'s nearly $1 billion term loan—originally from Exxon Mobil Corp.—which expires on June 26; the proposed refinancing carries a 15% interest rate (coupon), requires 20% amortization payments, and may be offered at 98% of face value.

How has the Trump administration supported Sable Offshore’s operations, and what is the current production status of the company?

President Donald Trump invoked Cold War-era powers to override state-level opposition and enable Sable Offshore to resume crude oil sales in March after more than a decade-long hiatus; the Houston-based company is now pumping 46,000 barrels of oil daily from offshore platforms near Santa Barbara—previously owned by Exxon and offline since a 2015 pipeline rupture caused by Plains All American LP.

JPMorgan Shops 15% Yield Debt for Oil Driller Boosted by Trump

Jun 8, 2026

JPMorgan Chase is refinancing nearly $1 billion in debt for Sable Offshore Corp. at a 15% interest rate, supporting the oil driller's operations after President Trump invoked powers to override state-level opposition to its offshore projects.

bloomberg

2026-06-08

JPMorgan Shops 15% Yield Debt for Oil Driller Boosted by Trump

JPMorgan Shops 15% Yield Debt for Oil Driller Boosted by Trump

FAQ