Welcome to our dedicated page for SOUTHERN ENERGY news (Ticker: $SOUTF), a resource for investors and traders seeking the latest updates and insights on SOUTHERN ENERGY stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect SOUTHERN ENERGY's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of SOUTHERN ENERGY's position in the market.
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Southern Energy Corp. announces successful completion of Upper Selma Chalk horizontal well, exceeding natural gas rates expectations and reducing overall completion costs. The company plans to monitor early production performance before making decisions on the completion timing of remaining wells. The successful design changes are expected to improve production rates and lower capital costs, allowing for accelerated redevelopment of the Gwinville Field. Improved natural gas prices are also expected to contribute to increased value for the business.
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Southern Energy Corp. (Southern) (TSXV:SOU)(AIM:SOUC)(OTCQX:SOUTF) has agreed to issue 779,273 new common shares to holders of its 8% convertible unsecured subordinated debentures as payment in kind of accrued interest on the Debentures due on December 31, 2023. The Interest Payment amounts to CAD$171,440, with the new Common Shares to be issued at a price of CAD$0.22 per share. Certain Directors and PDMRs of the Company also hold Convertible Debentures and were issued 9,455 Common Shares. The new Common Shares will be admitted to trading on AIM on or around 3 January 2024, bringing the total number of Common Shares in the Company to 166,497,433.
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End-of-Day
7.55%
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Southern Energy Corp. (TSXV:SOU)(AIM:SOUC)(OTCQX:SOUTF) announces its third quarter financial and operating results for the three and nine months ended September 30, 2023. The company generated $5.3 million in petroleum and natural gas sales in Q3 2023, with a net loss of $2.4 million. The Q3 2023 average production was 16,8812 Mcfe/d (2,814 boe/d) and the company successfully renegotiated an increase of $2.0 million in the borrowing base of the Company's senior secured term loan. However, the company closed an equity financing raising aggregate gross proceeds of $5.0 million in November 2023. The company is mobilizing equipment to start completion operations on the first drilled and uncompleted well at the 14-6 #3 (Upper Selma Chalk) in early December 2023.
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End-of-Day
-3.98%
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Southern Energy Corp. announces the results of a conditional fundraising, raising US$5.0 million. The funds will be used to complete up to four drilled and uncompleted wells at a cost of approximately US$3 million per well. The fundraising shares consist of 26,630,000 new common shares, representing approximately 16.1% of the company's enlarged share capital post-completion. Stifel Nicolaus Europe Limited and Tennyson Securities acted as joint bookrunners in connection with the placing.
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End-of-Day
-10.17%
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Southern Energy Corp. announces its intention to conduct an equity fundraise to raise at least US$5 million. The fundraising consists of a placing of new Common Shares, a concurrent public offering of new Common Shares in Canada, and a Subscription by certain Directors and members of the Company's senior management. The company plans to use the funds to accelerate the completion of its four drilled and uncompleted wells, which is expected to be accretive and generate significant cash flow. The completion of the wells will provide a platform for organic growth and increase production by 39% per share in 2024. Southern Energy Corp. also identifies over 100 additional drilling targets for future development.
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Southern Energy Corp provides an update on field operations and production, as well as recent financial hedging contracts.
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1.76%
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Southern Energy Corp. announces fifth amendment to credit facility, including extension of Tranche B availability and increase in Tranche B commitment. Approximately US$11.5 million of capacity remaining on Credit Facility. Positive for stock price.
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Southern Energy Corp. announces its Q2 2023 financial and operating results. Highlights include $0.2 million of adjusted funds flow from operations, a net loss of $3.8 million, petroleum and natural gas sales of $3.7 million, and a strategic acquisition in Gwinville for $3.2 million. Q2 2023 average production increased by 12% compared to Q2 2022. Average realized natural gas and oil prices decreased in Q2 2023 compared to Q2 2022.
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-9.29%
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-2.26%
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20.21%
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SOUTHERN ENERGY CORP
OTC:SOUTF
SOUTF Rankings
SOUTF Stock Data
20.58M
133.13M
13.96%
6.7%
Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
United States of America
Calgary