Southern heads south, selling Alberta oil and NG assets
Southern Energy Corp. announced that it has closed the sale of its oil and natural gas assets in Alberta for approximately $640,000.
“We are happy to have completed the sale of our Canadian assets that we inherited in December 2018 as part of the re-organization transaction of Standard Exploration,” said Ian Atkinson, president and CEO of Southern. “The sale of these assets focuses us on executing our business strategy in the Southeastern United States.”
The Disposition included assets in Southern Alberta that were producing approximately 40 boe per day of heavy crude oil in March of this year.
Southern now has a primary focus on developing conventional and unconventional light oil and natural gas resources in the Southeast Gulf States of Mississippi, Alabama, and Louisiana.