Sable Offshore Corp. (NYSE:SOC) shares fell on Friday after Hunterbrook Media published a report alleging the company leaked key information to investors, including golfer Phil Mickelson.
Here’s what to know:
- SOC stock is dropping. See the real-time price action here.
According to the report from Hunterbrook, a leaked call revealed that Sable CEO Jim Flores told select investors the company might need to raise up to $200 million by the end of 2025, information not publicly disclosed.
Benzinga reached out to Sable Offshore, Mickelson and the White House and did not receive an immediate response.
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Hunterbrook alleged that the leak is part of a pattern of selective sharing with investors like Mickelson, who passed on tips in a private group chat about an upcoming SEC filing that briefly lifted Sable's stock.
Hunterbrook said that Sable later claimed the leaked recording was AI-generated.
In the call, Flores allegedly discussed seeking help from President Donald Trump and Commerce Secretary Howard Lutnick to bypass state rules and fund the project, even offering a golf round with Mickelson.
The report claims a source close to Lutnick has denied any contact, while Mickelson dismissed concerns in the group chat, joking about the group’s poor investment record.
SOC Price Action: Sable Offshore shares were down 11.78% at $11.32 on Friday afternoon, according to data from Benzinga Pro.
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