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Southern Energy Corp. Announces Gwinville Lower Selma Chalk Completion Results
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE ...
About this update from Southern Energy Corp.
[{"type":"text","content":"Southern Energy Corp. Announces Gwinville Lower Selma Chalk Completion ResultsTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (REGULATION 596/2014/EU) AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. CALGARY, AB / ACCESS Newswire / July 29, 2025 / Southern Energy Corp. (\"Southern\" or the \"Company\") (TSXV:SOU)(AIM:SOUC), an established producer with natural gas and light oil assets in Mississippi, is pleased to announce the preliminary results from its recent Lower Selma Chalk (\"LSC\") horizontal well completion in the Gwinville Field. In late June 2025, Southern successfully completed the first of its three remaining drilled but uncompleted (\"DUC\") horizontal wells from the Q1 2023 drilling program, the GH LSC 13-13 #2 wellbore. Over the first 30 days of production, the well averaged natural gas rates of 3.6 MMcfe/d (99% gas). This is an increase of > 100% compared to the average of the original LSC horizontal wells in Gwinville that were drilled and completed by previous operators. The well has been flowing directly to Company facilities with all gas sold since June 26, 2025.Southern safely and efficiently stimulated the well with 25 fracture stages, placing over 5.3 million lbs of proppant into the wellbore. This is a 70% increase in proppant intensity compared to the original LSC horizontal wells at Gwinville. Southern implemented targeted stimulation design changes for this first LSC horizontal completion that improved the predictability and speed of the fracture operations, and most importantly, reduced the overall completion cost down to US$2.2 million which is over 10% below pre-job estimates. Additionally, water flowback rates from the LSC reservoir have been over 70% lower than Southern's Upper Selma Chalk horizontal wells, which translates into significant initial operating cost savings of ~ $0.20/Mcfe, further improving capital returns.With these further cost improvements, the Company now estimates the total capital required to drill, complete, tie-in and equip capital for future Gwinville LSC horizontal w...