Journey reported first quarter results that included production that was in line with expectations, while cash flow fell short largely due to one-time severance costs. Management reiterated its plans to spend only $9 mm in 2016e, although production guidance has been trimmed due to delays in deployment of 2016 capital along with delays in returning wells to production given the current pricing environment. The Company’s bank line is currently under review, with a completion date expected of May ....
11 May 2016
Reports First Quarter Results, Trims Production Guidance
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Reports First Quarter Results, Trims Production Guidance
Journey Energy, Inc. (JOY:TSE) | 0 0 -0.6% | Mkt Cap: 89.2m
- Published:
11 May 2016 -
Author:
Michael Hearn -
Pages:
6
Journey reported first quarter results that included production that was in line with expectations, while cash flow fell short largely due to one-time severance costs. Management reiterated its plans to spend only $9 mm in 2016e, although production guidance has been trimmed due to delays in deployment of 2016 capital along with delays in returning wells to production given the current pricing environment. The Company’s bank line is currently under review, with a completion date expected of May ....