Future looks good for Journey Journey has decided to take a conservative approach to capital spending for 2021, with a focus on repaying the new borrowings from AIMCo. The dramatic increase in commodity prices, coupled with favorable price differentials, and a lower cost structure are combining to make 2021 another transformational year for the Company. Journey's initial 2021 guidance is presented in the table below:
| Annual average production | 7,300 – 7,600 boe/d (46% crude oil and NGL) |
| Capital spending | $3.5 - $5.0 million |
| Funds flow | $30 - $33 million |
| Year-end net debt | $62 - $65 million |
| Funds flow per basic weighted average share | $0.68 - $0.75 |
| Corporate annual decline rate | 16% |
Journey's 2021 forecasted funds flow is based upon the following assumed annual, average prices: WTI of $59.00/bbl USD; Company differentials of $5.50/bbl USD for oil from Edmonton light sweet prices; realized natural gas price of CDN$2.90/mcf CDN; and a foreign exchange rate of $0.79 US$/CDN$.
Over the course of 2021, we look forward to updating you on our progress as we transition to better days. We thank all of our stakeholders who have stood by us through these difficult and trying times.