Following up on the Company’s reserve release at the end of February, Journey has reported year-end financial results, which were in line for the most part with our expectations apart from cash flow that handily beat our estimate. Recall, Journey’s year-end reserves were relatively at y/y, although reflected an increase in the liquids weighting of booked reserves y/y across all categories.
Management reiterated its plans to spend only $9 mm in 2016e while averaging 8,700-9,000 boe/d. We have i ....
16 Mar 2016
Reports Fourth Quarter Results
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Reports Fourth Quarter Results
Journey Energy, Inc. (JOY:TSE) | 0 0 -0.6% | Mkt Cap: 89.2m
- Published:
16 Mar 2016 -
Author:
Michael Hearn -
Pages:
6
Following up on the Company’s reserve release at the end of February, Journey has reported year-end financial results, which were in line for the most part with our expectations apart from cash flow that handily beat our estimate. Recall, Journey’s year-end reserves were relatively at y/y, although reflected an increase in the liquids weighting of booked reserves y/y across all categories.
Management reiterated its plans to spend only $9 mm in 2016e while averaging 8,700-9,000 boe/d. We have i ....