Southern Energy ( (TSE:SOU) ) has issued an update.
Southern Energy Corp. has announced a US$6.0 million equity fundraising initiative aimed at enhancing its production capabilities. The funds will be used to complete three drilled and uncompleted wells and to finance the drilling of two additional wells. This move is expected to bolster Southern’s operations by taking advantage of rising U.S. natural gas prices, thus potentially improving its market position and offering value to stakeholders.
More about Southern Energy
Southern Energy Corp. operates in the energy sector, focusing on the production of liquids-rich natural gas. The company is strategically positioned to capitalize on the growing demand for U.S. natural gas, particularly from its high-quality Gulf Coast assets.
YTD Price Performance: -31.00%
Average Trading Volume: 22,378
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $11.15M
Learn more about SOU stock on TipRanks’ Stock Analysis page.
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