Impact: Neutral to slightly positive as the Company announced a 2016e capital program and production guidance that overlays our previous estimates, though we view the concurrent dividend suspension as prudent in light of an unsustainably high cash use to cash flow on current strip pricing which would have continued to strain the balance sheet into 2016e. Journey anticipates a $25 mm capital program to generate average 2016e volumes of 9,250 boe/d, at midpoint.
15 Dec 2015
JOURNEY ENERGY INC. (JOY) ANNOUNCES GUIDANCE FOR 2016 AND SUSPENSION OF QUARTERLY DIVIDEND
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JOURNEY ENERGY INC. (JOY) ANNOUNCES GUIDANCE FOR 2016 AND SUSPENSION OF QUARTERLY DIVIDEND
Journey Energy, Inc. (JOY:TSE) | 0 0 -0.6% | Mkt Cap: 89.2m
- Published:
15 Dec 2015 -
Author:
Michael Hearn -
Pages:
3
Impact: Neutral to slightly positive as the Company announced a 2016e capital program and production guidance that overlays our previous estimates, though we view the concurrent dividend suspension as prudent in light of an unsustainably high cash use to cash flow on current strip pricing which would have continued to strain the balance sheet into 2016e. Journey anticipates a $25 mm capital program to generate average 2016e volumes of 9,250 boe/d, at midpoint.