Southern Energy (TSE:SOU) has released an update.
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Southern Energy Corp. reported a 15% increase in average production for Q1 2024, despite facing a decrease in natural gas sales and net loss due to lower gas pricing and one of the warmest winters on record. The company has delayed completion of three wells, anticipating better pricing later in 2024, and remains focused on cost efficiency and leveraging its strong balance sheet to capitalize on natural gas market opportunities. Southern Energy also engaged in strategic derivative transactions to manage future price volatility and support continued shareholder value creation.
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