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The latest announcement is out from Southern Energy ( (TSE:SOU) ).
Southern Energy reported 2025 petroleum and natural gas sales of $18.0 million, up 12% year-on-year, and narrowed its annual net loss to $7.5 million despite a 21% drop in production linked to a pipeline transport dispute and voluntary shut-ins. The company generated $3.0 million in adjusted funds flow, maintained a consistent premium to NYMEX gas pricing and reduced net debt by $4.1 million while advancing its Selma Chalk horizontal well program.
In February 2026, Southern completed a financing package totaling about $22 million in net proceeds, including senior secured convertible debentures, equity and a 6% gross overriding royalty, using the funds to fully retire its higher-cost senior credit facility and cut interest costs. With no senior bank debt, extended maturities to 2028 and development capital funded, Southern says it is positioned to accelerate development of its Mississippi resource base, pursue lower-cost multi-lateral drilling in the Selma Chalk and convert its reserves into sustainable free cash flow amid a strengthening U.S. natural gas demand outlook.
More about Southern Energy
Southern Energy Corp. is a Calgary-based oil and gas producer focused on natural gas and light oil assets in Mississippi. The company targets Gulf Coast markets, leveraging its positioning to secure premium pricing for its natural gas relative to the NYMEX Henry Hub benchmark.
For an in-depth examination of SOU stock, go to TipRanks’ Overview page.