Southern Energy Corp. Reports 2024 Financial and Operational Results

Southern Energy Corp., a natural gas and oil producer in Mississippi, announced its financial outcomes for Q4 and year-end 2024. The company reported a decline in production and sales, driven by low commodity prices and a reduction in well activity. Q4 production averaged 13,556 Mcfe/d, a 19% reduction from 2023. Year-end sales totaled $16.1 million, down 17% year-over-year.

Despite these setbacks, Southern managed to reduce its net debt by $2.7 million and closed an equity financing deal, raising $5 million. Additionally, it completed several amendments to its Credit Facility, enhancing financial flexibility. Following a weak year, Southern's focus on strategic asset location and hedging enabled it to achieve stable cash flows.

Looking ahead, the company anticipates growth in natural gas demand from LNG facilities and plans to execute completions on new wells in 2025.