March 26, 2020 / 11:21 AM / 8 days ago

BRIEF-Southern Energy Corp. Provides Corporate Update And Confirms Response To COVID-19

March 26 (Reuters) - Southern Energy Corp:

* SOUTHERN ENERGY CORP. PROVIDES CORPORATE UPDATE AND CONFIRMS RESPONSE TO COVID-19

* SOUTHERN ENERGY - SECURED FIXED PRICE HEDGES ON PRODUCTION OF 6,000 MCF PER DAY OF NATURAL GAS AT AVERAGE PRICE OF $2.55 PER MCF THROUGH DEC 31

* SOUTHERN ENERGY - SECURED FIXED PRICE HEDGES ON PRODUCTION OF75 BARRELS OF OIL PER DAY AT AN AVERAGE PRICE OF $55.65 PER BBL THROUGH DEC 31

* SOUTHERN ENERGY CORP - SOUTHERN HAS APPROXIMATELY 45% OF ITS CURRENT PRODUCTION VOLUMES HEDGED

* SOUTHERN - HAVE PROACTIVELY REDUCED CORPORATE SALARIES FOR ALL EMPLOYEES BY 20% IN RESPONSE TO COVID-19 AND WEAKENED COMMODITY PRICES

* SOUTHERN ENERGY- OPERATIONAL EVENT AT MECHANICSBURG ASSETS CAUSED PIPELINE CO TO DIRECT ALL SUPPLIERS TO SUSPEND DELIVERIES INTO PIPELINE

* SOUTHERN ENERGY CORP - PIPELINE COMPANY HAS DECLARED EVENT TO BE FORCE MAJEURE EVENT

* SOUTHERN ENERGY - HAS SHUT-IN ABOUT 550 BOE/D OF PRODUCTION FROM MECHANICSBURG, REPRESENTING ABOUT 23% OF CURRENT VOLUMES, UNTIL SITUATION IS RESOLVED Source text for Eikon: Further company coverage:

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