The latest announcement is out from Journey Energy ( (TSE:JOY) ).
Journey Energy Inc. has announced its year-end 2024 reserves evaluation, highlighting a strategic shift towards higher netback liquids. The company reported a 6% increase in total proved plus probable reserves to 85.4 MMboe, with a 14% rise in NPV@10% to $882.7 million. This growth is attributed to positive technical reserve revisions and a focus on oil and liquids, particularly through its Duvernay Joint Venture, which is expected to significantly impact future netbacks and operating expenses. The company’s strategic investments and asset sales have also reduced liability costs by over $21 million, positioning Journey Energy for enhanced financial performance in the coming years.
More about Journey Energy
Journey Energy Inc. operates in the oil and gas industry, focusing on the exploration and production of oil and natural gas. The company is engaged in developing its asset base to increase production and reserves, with a market focus on higher netback liquids and strategic joint ventures.
YTD Price Performance: -7.65%
Average Trading Volume: 73,770
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $87.93M
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