Brief: Journey Energy Inc Reports Its 2018 Financial Results

Journey Energy

12/03/2019 24:48

March 11 (Reuters) - Journey Energy Inc  JOY.TO :
    * . REPORTS ITS 2018 FINANCIAL RESULTS
    * JOURNEY ENERGY - ACHIEVED PRODUCTION OF 9,921 BOE/D (46%
LIQUIDS) IN Q4, VERSUS A SLIGHT DECREASE FROM 10,277 BOE/D (48%
LIQUIDS) RECORDED IN Q3 LAST YEAR
    * QTRLY LOSS PER SHARE 41 CENTS
    * SAYS PER BOE OPERATING COSTS IN 2019 ARE FORECAST TO BE
SIMILAR
TO THOSE EXPERIENCED IN 2018, IN $13-14/BOE RANGE
    * SEES 2019 ANNUAL AVERAGE PRODUCTION 9,200 - 9,600 BOE/D
(49%
LIQUIDS)
    * SEES 2019 EXPLORATION AND DEVELOPMENT CAPITAL $30 MILLION
    * QTRLY PRODUCTION REVENUE $20.4 MILLION VERSUS $30.3
MILLION
    * SEES 2019 FUNDS FLOW $33-37 MILLION
    * SEES 2019 FUNDS FLOW PER BASIC WEIGHTED AVERAGE SHARE
$0.84 -
$0.94 SHARE
    * JOURNEY ENERGY - CO TO DELAY INITIATION OF 2019 CAPITAL
PROGRAM
UNTIL JUNE, REDUCE FORECASTED CAPITAL PROGRAM FROM $40 MILLION
TO $30 MILLION
    * SEES 2019 YEAR-END NET DEBT $128 - $132 MILLION
    * SEES 2019 CORPORATE ANNUAL DECLINE RATE OF 16%

Source text for Eikon:  ID:nCNW5Dm5na 
Further company coverage:  JOY.TO 

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