Southern Energy Struggles in Q3 Amid Low Gas Prices

Southern Energy (TSE:SOU) has released an update.

Southern Energy Corp. reported a challenging third quarter in 2024, with a 34% decline in petroleum and natural gas sales compared to last year, and a net loss of $2.1 million. To navigate the tough market conditions, Southern has focused on optimizing its operations, selling excess equipment for $3.4 million and leveraging its strategic asset locations to achieve better pricing. The company remains optimistic about future price improvements amidst increasing demand and continues to manage its financial hedge to stabilize cash flow.

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