Southern Energy Corp. (V:SOU*CA)

Business Focus: Oil & Gas Exploration and Production (NEC)

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
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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

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