10 Firms Post Double-Digit Gains on Thursday

4. Sable Offshore Corp. (NYSE:SOC)

Sable Offshore surged by 25.17 percent on Thursday to close at $30.63 per share following news that it can now proceed with repair works for the Las Flores oil facility which was ordered shut in 2015 following an oil spill from a ruptured pipeline that released 450,000 gallons of oil near Refugio State Beach.

According to the company, it officially received a letter from the Santa Barbara County Planning and Development Department in California that allowed the company to conduct repair works as authorized by existing permits.

The letter also underscored that no further applications or actions are required for the repair work to proceed.

SOC is a Houston-based independent upstream company focused on responsibly developing the prolific Santa Ynez Unit in federal waters offshore California.