Journey Energy Stock Price, News & Analysis

Journey Energy (OTCQX:JRNGF) reported its Q2 2025 financial results, achieving sales volumes of 10,950 boe/d (49% crude oil, 10% NGL's, 41% natural gas). The company generated Adjusted Funds Flow of $15.9 million ($0.24 per share) and reported net income of $4.1 million ($0.06 per share).

Key operational highlights include an 8% reduction in field operating costs from Q1 and significant progress in the Duvernay drilling program, with 3 wells showing strong initial production rates averaging 1,261 boe/d per well. The company also entered agreements to divest two minor producing assets for $3.2 million and advanced construction of the Gilby power generation asset.

Journey maintains its 2025 production guidance of 10,800-11,200 boe/d while slightly reducing capital spending guidance to $54 million from $55 million.

Journey Energy (OTCQX:JRNGF) has reported promising results from its Duvernay Joint Venture operations, where it holds a 30% working interest in partnership with Spartan Delta Corp. The venture controls 112 gross sections with potential for 60 net, 2.5-mile wells.

Three recently completed wells have shown exceptional performance, with 30-day peak production rates ranging from 1,228 to 1,470 Boe/d, featuring approximately 86-87% liquids content. The first wells drilled in late 2024 have already recovered over 70% of their capital within six months.

The company has completed 7.0 (2.1 net) wells out of the planned 8.0 (2.4 net) wells for 2025, with four additional wells expected to begin production by mid-July. Journey anticipates a significant expansion in near-term capital for 2026 as the play enters its development phase.

Journey Energy Inc. (TSX: JOY, OTCQX: JRNGF) announced its participation in Water Tower Research's Fireside Chat Series on June 11, 2025. The discussion, led by WTR's Managing Director Jeff Robertson with Journey's CEO Alex Verge, will focus on the company's strategic outlook, particularly its Duvernay shale play, conventional assets, and power business. Key topics include Duvernay shale development plans, core assets in Medicine Hat, conventional and enhanced oil recovery developments, power business development, and potential regulatory changes following recent elections.

Journey Energy (TSX: JOY, OTCQX: JRNGF) held its 2025 Annual General Meeting with shareholders approving all proposed resolutions. Key voting results include: - Shareholders fixed the board size at six directors with 85.67% approval - All six director nominees were elected with approval ratings ranging from 79.42% to 83.01% - KPMG LLP was reappointed as auditor with 97.37% support - The Advance Notice By-Law regarding director nominations was approved with 82.10% of votes in favor Craig H. Hansen, Jenna M. Kaye, Thomas J. Mullane, Reginald S. Smith, Scott A. Treadwell, and Alex G. Verge will serve as directors until the next annual meeting.

Journey Energy (JRNGF) reported its Q1 2025 financial results with $19.6 million in Adjusted Funds Flow ($0.29 per share) and net income of $7.7 million ($0.12 per share). The company achieved sales volumes of 10,997 boe/d, with liquids accounting for 59% of total volumes. Journey reduced its net debt to $53.2 million from $60.3 million at year-end 2024.

The company secured a new $55 million credit facility with a Canadian Chartered bank on March 19. Journey's 2025 drilling program is progressing well, with 7 of 8 planned wells drilled and 3 completed. The company has increased its 2025 capital expenditure guidance to $55 million from the original $50 million, primarily due to increased power expenditures and end-of-life costs.

Journey Energy (TSX: JOY, OTCQX: JRNGF) has secured new credit facilities worth up to $55 million with a Canadian Chartered bank. The facilities include: a $12.4 million two-year amortizing term-loan to repay AIMCo debt, a $15 million operating facility for working capital, and a $27.6 million delayed-draw term facility for Duvernay development.

The company has approximately $42.6 million of combined undrawn capacity on the New Credit Facilities. In December 2024, Journey commenced production from two initial Duvernay joint venture wells with Spartan Delta Corp., exceeding management's expectations. In 2025, 3 (0.9 net) wells have been drilled with two rigs currently active. The Joint Venture controls about 105 sections of land within the Duvernay oil window, with Journey holding a 30% working interest.

Additionally, Journey's board has approved advance notice provisions for director nominations, requiring shareholders to provide notice 30-65 days before annual meetings and within 15 days of special meeting announcements. These provisions will be submitted for shareholder approval at the May 22, 2025 Annual Meeting.

Journey Energy Inc. (JRNGF) reported its financial results for 2024, achieving $5.1 million in net income ($0.08 per share) and $51.7 million in Adjusted Funds Flow ($0.83 per basic share). The company maintained strong production with 10,815 boe/d in Q4 2024, with liquids accounting for 59% of volumes.

Key developments include: closing a $38 million convertible debenture financing in March 2024; entering a strategic Joint Venture with Spartan Delta for Duvernay development with a 30% working interest; and advancing construction of a 15.1 MW power generation facility in Gilby Alberta. The company completed a divestment of Central Alberta assets, reducing end-of-life-costs by over $20 million.

Two Duvernay wells were drilled and began production in December, exceeding management expectations. Capital spending for Q4 2024 totaled $16.3 million, with $8.2 million allocated to Duvernay wells and $5.5 million to power projects.

Journey Energy has reported its year-end 2024 oil and gas reserves evaluation, highlighting a strategic shift toward higher netback liquids. While proved developed producing reserves decreased 4% to 35.5 MMboe (NPV@10%: $350.3 million), total proved reserves increased 1% to 50.4 MMboe (NPV@10%: $538.4 million) and total proved plus probable reserves grew 6% to 85.4 MMboe (NPV@10%: $882.7 million).

The company achieved positive technical reserve revisions, though these were offset by negative economic revisions primarily affecting natural gas properties due to reduced forecasted pricing. Reserve life indices improved, with PDP increasing to 8.9 years from 8.4 years.

Notably, 73% of 2024 TPP reserve additions were attributed to higher netback oil and liquids. The company also reduced total undiscounted end-of-life liability costs by over $21 million through asset sales and capital investments.

Journey's Duvernay Joint Venture saw significant reserve bookings, with year-end TPP reserves including 5 gross producing wells and 44 gross locations, valued at $151 million. The company plans to allocate most of its growth capital to this venture over the next two years, with GLJ forecasting a 2025 operating netback of approximately $50/boe.

Journey Energy has announced its preliminary guidance for 2025, focusing on Duvernay Joint Venture development. The company plans total capital expenditures of $50 million, including $30 million for drilling 7 (2.1 net) Duvernay wells, $10 million for power projects, and the remainder for various other expenditures.

Journey has reached an agreement with AIMCo to amend the repayment terms of approximately $12.4 million in term debt. Payments will be paused from March to August 2025, resuming in September with monthly payments of $2.1 million plus interest until February 2026.

The company's 2025 guidance projects average daily sales volumes of 10,800-11,200 boe/d (58% crude oil & NGL's), Adjusted Funds Flow of $68-70 million ($1.01-1.05 per share), and year-end Net Debt of $41-43 million with a Net Debt to Adjusted Funds Flow ratio of 0.6x.