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Southern Energy ( (TSE:SOU) ) just unveiled an announcement.
Southern Energy Corp. has successfully completed an equity financing, raising US$5.0 million to accelerate its gas production efforts in the U.S. market. The funds will be used to complete three drilled and uncompleted wells and to drill two new wells, aiming to capitalize on the current high natural gas prices. This strategic move is expected to significantly enhance shareholder returns and position the company for further growth, with over 100 additional drilling locations identified for future development.
More about Southern Energy
Southern Energy Corp. is a U.S.-focused, growth-oriented natural gas producer. The company is involved in the production of liquids-rich gas and is strategically positioned in the premium-priced U.S. natural gas market. Its operations include the development of gas wells and exploration of hydrocarbon targets, with a focus on increasing production and shareholder value.
YTD Price Performance: -51.00%
Average Trading Volume: 30,047
Technical Sentiment Signal: Strong Buy
Current Market Cap: $8.36M
For a thorough assessment of SOU stock, go to TipRanks’ Stock Analysis page.