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Southern Energy Corp. Announces Second Quarter 2025 Financial and Operating Results and Information Regarding the Annual Meeting of Shareholders
CALGARY, AB / ACCESS Newswire / August 19, 2025 / Southern Energy Corp. (" Southern " or the...
About this update from Southern Energy Corp.
[{"type":"text","content":"Southern Energy Corp. Announces Second Quarter 2025 Financial and Operating Results and Information Regarding the Annual Meeting of ShareholdersCALGARY, AB / ACCESS Newswire / August 19, 2025 / Southern Energy Corp. (\"Southern\" or the \"Company\") (TSXV:SOU)(AIM:SOUC), an established producer with natural gas and light oil assets in Mississippi, announces its second quarter financial and operating results for the three and six months ended June 30, 2025. Selected financial and operational information is outlined below and should be read in conjunction with the Company's unaudited consolidated financial statements and related management's discussion and analysis (the \"MD&A\") for the three and six months ended June 30, 2025, which are available on the Company's website at www.southernenergycorp.com and have been filed under the Company's profile on SEDAR+ at www.sedarplus.ca. All figures referred to in this news release are denominated in U.S. dollars, unless otherwise noted.SECOND QUARTER 2025 HIGHLIGHTSPetroleum and natural gas sales of $4.0 million during Q2 2025, an increase of 3% from the same period in 2024, largely due to the 61% increase in Q2 2025 natural gas pricing over Q2 2024Average production of 11,295[1] Mcfe/d (1,883 boe/d) (96% natural gas) during Q2 2025, a decrease of 27% from the same period in 2024In June 2025, Southern successfully completed the second of its four high quality drilled uncompleted horizontal wells (\"DUCs\") from the Q1 2023 drilling program - the GH Lower Selma Chalk (\"LSC\") 13-13 #2 wellbore. The operation was completed safely and under budgetAverage realized natural gas and oil prices for Q2 2025 of $3.63/Mcf and $62.60/bbl, compared to $2.26/Mcf and $80.06/bbl in Q2 2024. Southern achieved an average premium of $0.19/Mcf (approximately 6%) above the NYMEX HH benchmark in Q2 2025Generated $0.6 million of Adjusted Funds Flow from Operations[2] in Q2 2025 ($0.00 per share basic and diluted)Net loss of $0.4 million ($0.00 per share basic and diluted) in Q2 2025, compared to a net loss of $2.6 million in Q2 2024On April 8, 2025, Southern closed an equity financing raising aggregate gross proceeds of $5.0 million (approximately £3.9 million, C$7.2 million) through the issuance of a total of 102,482,673 new units (see \"Shareholders' Equity - Share Capital\" in the June 30, 2025 MD...