sur Southern Energy Corp. (CVE:SOU)
Southern Energy Corp. Releases Q1 2025 Financial Results
Southern Energy Corp., a Mississippi-based natural gas and light oil producer, announced its first quarter 2025 financial results. The company reported a 7% increase in petroleum and natural gas sales, reaching $5.1 million, driven by improved natural gas pricing. Despite the sales increase, Southern posted a net loss of $3.9 million, slightly higher than the $3.1 million loss in Q1 2024.
The first quarter saw a decrease in average production by 29%, averaging 12,808 Mcfe/d. Southern's strategic financial moves included equity financing of $5.0 million and amendments to its senior secured term loan, enhancing financial flexibility. The company's future plans focus on resuming field operations with expectations of commencing production from new wells by June 2025.
R. P.
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