Sector: Energy | Industry: Oil & Gas Exploration and Production |
Company Contact | |
Address: | Suite 2400, 333 - 7th Avenue S.W. CALGARY AB T2P 2Z1 |
Tel: | N/A |
Website: | https://southernenergycorp.com |
IR: | See website |
Key People | ||
Ian Atkinson President, Chief Executive Officer, Director | Calvin Yau Chief Financial Officer | Gary Mcmurren Chief Operating Officer | Sanjib Gill Corporate Secretary |
Business Overview |
Southern Energy Corp. is a Canada-based natural gas exploration and production company. The Company has a primary focus on acquiring and developing conventional natural gas and light oil resources in the southeast Gulf States of Mississippi, Louisiana, and East Texas. It has three assets in the Mississippi Interior Salt Basin (MISB), which include the Gwinville, Mechanicsburg, and Mount Olive East fields. It operates and owns a working interest in over 12,000 held by the production acres of land in the Gwinville field. It operates and owns a working interest in approximately 12,450 held by the production acres of land in the Gwinville field. The Company operates and owns a working interest in over 3,400 held by production acres of land in the Mechanicsburg field. It owns and operates production from a number of other fields in the MISB within 40 miles of Gwinville, including Greens Creek and Williamsburg South gas fields, along with minor oil production from the Magee field. |
Financial Overview |
For the nine months ended 30 September 2023, Southern Energy Corp revenues decreased 59% to $11.5M. Net loss totaled $7.3M vs. income of $7.6M. Revenues reflect Petroleum and natural gas revenue decrease of 60% to $14.2M. Net loss reflects Depletion and depreciation increase of 78% to $7.3M (expense), General and administrative increase of 23% to $3.6M (expense), Transportation increase from $107K to $764K (expense). |
Employees: | 19 as of Dec 31, 2022 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | N/A |
Annual revenue (TTM): | $25.98M as of Sep 30, 2023 |
EBITDA (TTM): | $6.75M as of Sep 30, 2023 |
Net annual income (TTM): | -$7.47M as of Sep 30, 2023 |
Free cash flow (TTM): | -$54.57M as of Sep 30, 2023 |
Net Debt Last Fiscal Year: | $25.01M as of Sep 30, 2023 |
Shares outstanding: | 166,497,433 as of Jan 22, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |