Source - Alliance News

Southern Energy Corp on Tuesday said its oil production increased in the third quarter.

Southern Energy is a natural gas exploration and production company, focused on acquiring and developing conventional natural gas and light oil resources in Mississippi, Louisiana, and East Texas.

The company said third-quarter output averaged 2,814 barrels of oil equivalent per day, which it said was 6% higher quarter-on-quarter.

Production has since risen further to 2,900 boed, it added.

The company said that it is in the process of re-bidding completion services in connection with the four uncompleted horizontal wells at Gwinville in Mississippi.

Southern Energy shares fell 11% to 18.00 pence each on Tuesday afternoon in London.

Copyright 2023 Alliance News Ltd. All Rights Reserved.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Southern Energy Corp. (SOUC)

-0.25p (-2.08%)
delayed 15:57PM