Report says Phil Mickelson received inside information about offshore companies

New reports from financial publications hunter brook A private group that claims Phil Mickelson received inside information about an offshore oil company and distributed it to the company’s shareholders. Mickelson later defended himself on Friday afternoon.

on Friday, hunter brook published a report that included a series of private messages Mickelson shared with a group of investors in Houston oil startup Sable Offshore. In the messages, Mickelson appeared to share material, non-public information gleaned from interactions with Sable Offshore CEO Jim Flores, a decision that could have legal implications for Mickelson, the company’s CEO, or both.

The three-line story centers on the latest move by troubled oil company Sable Offshore, which spent $988 million to wrest control of a troubled oil field off the coast of Santa Barbara, California, from Exxon Mobil and quickly attracted investors looking for a potential moonshot.

From the beginning, the Sable business was based on a calculated gamble: If Flores could restart production from Santa Ynez’s offshore oil infrastructure, which consists of three offshore platforms, a processing facility and a pipeline system that were shut down after an environmental disaster in 2015, the nearly $1 billion investment would look like a good investment.

But the company’s 20-month existence has been tougher than investors had hoped. Sable Offshore’s efforts to protect against future environmental disasters have hit a series of regulatory hurdles over the past year and a half. The company has so far failed to restart production at its oil infrastructure, causing Sable Offshore’s share price to plummet more than 53% in the past 12 months.

Mickelson’s involvement with the company is widely known. The LIV golf star has tweeted about Sable Offshore more than 100 times over the past 20 months, many of them aimed at California lawmakers and regulators involved in keeping oil production shut down.

Mickelson’s own history of insider trading is well documented. In 2016, he paid more than $1 million to the Securities and Exchange Commission to settle charges that he traded on insider information gathered by legendary gambler Billy Walters.

this hunter brook Mickelson was not just a disgruntled investor, the report said, but he also revealed the contents of Group X (formerly Twitter), which appeared to show the six-time major champion sharing information obtained from Flores before it was made public.

Mickelson reportedly wrote to a group of Sable investors at This is one of the few examples of material, non-public information found in hunter brookreports.

this Hunter’s Manual The story also appears to indicate that Mickelson was involved in a coordinated effort to secure federal support for Sable’s offshore project, a “prayer” that it could reverse stagnant oil production and rebound Sable’s flagging stock price. A leaked call was quoted as hunter brook The story appears to show Sable Offshore CEO Jim Flores discussing a “West Coast matchup” between “some left-handed golfer” and current U.S. Commerce Secretary Howard Lutnick. (Lutnick countered that he had plans to play with Mickelson and said he had never heard of Sable Offshore.)

The legal implications of Mickelson’s involvement in the incident remain uncertain. U.S. insider trading laws provide that the transfer of material non-public information is not illegal per se as long as the information is not used for trading. On Friday afternoon, Mickelson responded to several tweets about the report with a similar defense, saying he did not trade based on the information he received and that his conduct in the report did not “suggest impropriety.”

If Mickelson’s peer

“So a company said I can’t say anything to you, but we’ll announce something at the close,” Mickelson said in an X reply. “I don’t know if it’s a dilutive, stock-down or stock-up trade. I have to wait and see what the information is, I don’t take any trades and I’m very careful given past history. I don’t even share this information until after the close.”

Mickelson also took issue with the accusations hunter brookA financial news organization whose unusual business position allows it to trade on information gathered by reporters, as long as the information is not material, non-public information. hunter brook The company disclosed on social media that it had not entered into any transactions based on the findings of the Sable Offshore story.

“This looks like stock manipulation on your part and is defamatory,” Mickelson wrote. “Are there any deals today?”

The report also suggested Sable Offshore would soon have to raise $200 million in dilutive equity, sending shares tumbling on Friday afternoon. As of the close, Sable Offshore was selling for $10.46 per share, down 18.47% from the day’s opening.