In the first half of 2019, Southern Energy, which specializes in oil and gas production in Louisiana, sold a total of 106 natural gas well unconventional gas well wet natural gas well tight natural gas well one deepwater well and three shallowwater well. The company had an average daily production capacity of approximately 30 thousand gallons of natural gas.
(Has Southwestern Energy Sold Any Oil And Gas Properties In Louisiana In 2019)
In contrast, the oil sector had not seen much activity in 2019. Southwestern Energy lost approximately 107 oil exploration and production projects to local developers. The company’s top operating business was its 8.1 million square feet of natural gas storage facilities, which were overleveraged and approaching their end-of-life date.
The company also sold a large amount of crude oil. In the first half of 2019, it sold approximately 1.1 million pounds of crude oil to foreign buyers for transportation to Asia and Europe. This was up from approximately 0.7 million pounds of crude oil sold in the same period last year.
(Has Southwestern Energy Sold Any Oil And Gas Properties In Louisiana In 2019)
In conclusion, Southern Energy has not seen significant activity in 2019 in the oil and gas industry. While the company has been experiencing some losses due to the decline in commodity prices, it is still a viable player in the sector and may be able to attract new investment in the future.
