Southern Energy (TSE:SOU) has released an update.
Southern Energy Corp. reported a slight increase in petroleum and natural gas sales to $3.9 million in Q2 2024, up by 4% from the previous year, despite a 3% production decline. The company faced a net loss of $2.6 million but managed to enter into a favorable fixed price swap contract, and extended the maturity of its convertible debentures, aiming to improve financial stability and shareholder value amidst volatile natural gas prices.
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