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Journey Energy Inc JRNGF


Primary Symbol: T.JOY

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.


TSX:JOY - Post by User

Comment by baranjaon Sep 15, 2021 3:44pm
74 Views
Post# 33863308

RE:RE:RE:RE:What is more profitable with gas prices at current levels?

RE:RE:RE:RE:What is more profitable with gas prices at current levels?Some power companies are mining bitcoins, especially the one like JOY.  Even majors are in to it.

Justhalffull wrote: I agree switching the power plant off and on is not a simple process.  And they did generate $1,091,000 in revenue with just $363,000 in expenses during Q2 2021.  And this while the plant was only operating at 68% capacity due to upgrading taking place.  So we can expect an increase for Q3.  However, the realized price for NG in Q2 was about $3.02 mcf.  Prices now are near $5.50.  So the simple question to start with is how much ng does the power generation unit consume.  That would likely give you a real good starting point.


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