Journey Energy Inc. (T:JOY)
Business Focus: Oil & Gas Exploration and Production (NEC)
| Sector: Energy | Industry: Oil & Gas Exploration and Production |
| Company Contact | |
| Address: | 700, 517 - 10th Avenue SW CALGARY AB T2R 0A8 |
| Tel: | N/A |
| Website: | https://www.journeyenergy.ca |
| IR: | See website |
| Key People | ||
| Alex G. Verge President, Chief Executive Officer, Director | Gerald N. Gilewicz Chief Financial Officer | Richard Tracy Vice President - Operations |
| Aaron P. Bell Vice President - Engineering | Brett R. Boklaschuk Vice President - Exploration | Guido Deciancio Vice President - Land |
| Business Overview |
| Journey Energy Inc. is a Canada-based exploration and production company focused on conventional, oil-weighted operations in western Canada. The Company is engaged in the exploration, development, and production of crude oil and natural gas in the province of Alberta, Canada. Its strategy is to grow its production base by drilling on its existing core lands, implementing water flood projects, executing on accretive acquisitions. The Company seeks to optimize its oil pools on existing lands through the application of practices in horizontal drilling and, where feasible, with water floods. It offers horizontal, multi-frac drilling and secondary recovery methods. Its areas of operation are along a resource, Fairway, which consists of the Central Alberta and South Alberta. Its Central Alberta includes Gilby-Duvernay, Crystal, Cherhil, Kaybob, Ferrier, and Ante Creek Waterflood. Its South Alberta includes Matziwin, Skiff, Herronto, and Medicine Hat EOR. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Journey Energy Inc revenues decreased 7% to C$186.9M. Net income decreased 90% to C$15.8M. Revenues reflect Natural gas segment decrease of 49% to C$33.4M, Tight Oil production decrease of 29% to 17K barrels, Oil Equivalent Production (Units/day) Gi decrease of 18% to 1K barrels per day. Net income also reflects Depletion and depreciation - Balancing v increase of 33% to C$37.9M (expense). |
| Employees: | 42 as of Dec 31, 2022 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $273.48M as of Dec 31, 2023 |
| Annual revenue (TTM): | $186.92M as of Dec 31, 2023 |
| EBITDA (TTM): | $65.59M as of Dec 31, 2023 |
| Net annual income (TTM): | $15.82M as of Dec 31, 2023 |
| Free cash flow (TTM): | $20.25M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $44.65M as of Dec 31, 2023 |
| Shares outstanding: | 61,350,000 as of Dec 31, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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