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Southern Energy Corp. Announces Third Quarter 2025 Financial And Operating Results
CALGARY, AB / ACCESS Newswire / November 18, 2025 / Southern Energy Corp. (" Southern " or t...
About this update from Southern Energy Corp.
[{"type":"text","content":"Southern Energy Corp. Announces Third Quarter 2025 Financial And Operating ResultsCALGARY, AB / ACCESS Newswire / November 18, 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 third quarter financial and operating results for the three and nine months ended September 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 nine months ended September 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.THIRD QUARTER 2025 HIGHLIGHTSPetroleum and natural gas sales of $4.3 million during Q3 2025, an increase of 25% from the same period in 2024, largely due to the 50% increase in Q3 2025 natural gas pricing over Q3 2024Average production of 12,4571 Mcfe/d (2,076 boe/d) (97% natural gas) during Q3 2025, a decrease of 11% from the same period in 2024 and an increase of 10% from Q2 2025Average realized natural gas and oil prices for Q3 2025 of $3.59/Mcf and $63.53/bbl, compared to $2.40/Mcf and $73.78/bbl in Q3 2024. Southern achieved an average premium of $0.52/Mcf (approximately 17%) above the NYMEX HH benchmark in Q3 2025Generated $1.0 million of Adjusted Funds Flow from Operations2 in Q3 2025 ($0.00 per share basic and diluted)Net earnings of $0.5 million ($0.00 per share basic and diluted) in Q3 2025, compared to a net loss of $2.1 million in Q3 2024SUBSEQUENT EVENTSThe Company successfully completed an oil well in the Magee Field at the end of September 2025. The well produced approximately 3,000 bbl of oil in the month of October and is currently producing at steady rates ~ 85 bbl/d of oil. The final costs for the completion were $85,000, which resulted in a payout of less than three weeks on the project.Ian Atkinson, President and Chief Executive Officer of Southern, commented:\"Southern delivered another strong quarter, underpinned by a successful oil recompletion in the Magee Field and the conti...