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Southern Energy ( (TSE:SOU) ) just unveiled an announcement.
Southern Energy Corp. is advancing its operations with the completion of its first Gwinville drilled and uncompleted well, expecting production by June 2025. Concurrently, the company is addressing a dispute over excessive transportation fees with a third-party midstream company, which has led to the voluntary shut-in of some production to mitigate costs. This action affects about 20% of Southern’s production but only 10% of its operating income, ensuring minimal impact on other operations.
More about Southern Energy
Southern Energy Corp. is a natural gas exploration and production company with a stable, low-decline production base and a significant low-risk drilling inventory. The company focuses on acquiring and developing conventional natural gas and light oil resources in the southeast Gulf States of Mississippi, Louisiana, and East Texas. Southern Energy leverages strategic access to premium commodity pricing in North America and employs horizontal drilling and multi-staged fracture completion techniques.
For an in-depth examination of SOU stock, go to TipRanks’ Stock Analysis page.