Impact: Neutral to slightly positive. While the reserve book results were not overly surprising, the Company has elected to reduce 2016e capital by ~65%. The reduction is anticipated to reduce 2016e average volumes by a mere 4% and improve debt y/y. Proforma, these changes should be modestly positive to our estimates.
24 Feb 2016
REPORTS 2015 RESERVES AND UPDATES GUIDANCE FOR 2016E
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REPORTS 2015 RESERVES AND UPDATES GUIDANCE FOR 2016E
Journey Energy, Inc. (JOY:TSE) | 0 0 -0.6% | Mkt Cap: 89.2m
- Published:
24 Feb 2016 -
Author:
Michael Hearn -
Pages:
2
Impact: Neutral to slightly positive. While the reserve book results were not overly surprising, the Company has elected to reduce 2016e capital by ~65%. The reduction is anticipated to reduce 2016e average volumes by a mere 4% and improve debt y/y. Proforma, these changes should be modestly positive to our estimates.