Journey Energy Reports First Quarter 2016 Financial Results

- May 10th, 2016

Journey Energy (TSX:JOY) has announced its financial results for the first quarter of 2016. As quoted in the press release: Highlights for the first quarter are as follows: Achieved a production level of 9,533 BOE/d in the first quarter, essentially flat compared with the fourth quarter of 2015. Liquids (oil and natural gas liquids) production … Continued

Journey Energy (TSX:JOY) has announced its financial results for the first quarter of 2016.
As quoted in the press release:

Highlights for the first quarter are as follows:

  • Achieved a production level of 9,533 BOE/d in the first quarter, essentially flat compared with the fourth quarter of 2015.
  • Liquids (oil and natural gas liquids) production accounted for 5,245 BOE/d or 55% of total production during the quarter.
  • Received a corporate average commodity price of $20.81/BOE in the quarter with liquids production accounting for 78% of total sales revenues.
  • Drilled 1 (1.0 net) well and expanded the water flood at Skiff.
  • Acquired additional working interests and drilling locations in Journey’s core area of Herronton for $613 thousand.
  • Entered into the following new hedges:
    • Oil swap; 1,000 bbl/d (CAD $60.00) for July 1, 2016 to December 31, 2016.
    • Oil 3 way collar: 1,000 bbl/d (CAD $39.50 / $60.00 / $65.00) for October 1, 2016 to March 31, 2018.
    • Natural gas collar: 5,000 Gj/day (CAD $2.35/Gj floor; $2.86/Gj ceiling) for the period of November 1, 2016 to March 31, 2017.
    • Natural gas collar: 5,000 Gj/day (CAD $2.40 floor; $2.85/Gj ceiling) for the period of November 1, 2016 to March 31, 2018.

Click here to read the full press release.

Find out what experts are saying about the future of cannabis

 
Read our 2019 conference report today
 

Tags

Leave a Reply