17th Oct 2023 14:43
(Alliance News) - Southern Energy Corp on Tuesday said its oil production increased in the third quarter.
Southern Energy is a natural gas exploration and production company, focused on acquiring and developing conventional natural gas and light oil resources in Mississippi, Louisiana, and East Texas.
The company said third-quarter output averaged 2,814 barrels of oil equivalent per day, which it said was 6% higher quarter-on-quarter.
Production has since risen further to 2,900 boed, it added.
The company said that it is in the process of re-bidding completion services in connection with the four uncompleted horizontal wells at Gwinville in Mississippi.
Southern Energy shares fell 11% to 18.00 pence each on Tuesday afternoon in London.
By Tom Budszus, Alliance News reporter
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