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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

Post by hawkowl1on Jan 04, 2022 11:49am
190 Views
Post# 34281870

A reminder ..Journey Drilling plans 2022

A reminder ..Journey Drilling plans 2022Journey plans on returning to the field in early 2022, and this should increase both production and the oil weighting to prepandemic levels over time. Journey is currently planning an exploration and development program of $34-million to $38-million for 2022. This program is expected to be financed entirely from company cash flows. Journey has a development drilling program ready for Skiff, Cherhill, Crystal, Matziwin and Westerose. The horizontal development program in south Skiff follows up the three wells that were drilled there in 2018. During the third quarter of 2019, the central well of the three-well pattern was converted to water injection, and the offsetting producers have now responded favourably to this injection. The vast majority of Journey's future capital projects is within existing pools and is not subject to near-term expiries. New volumes can be brought on production with minimal incremental operating costs when drilling resumes. Journey plans on drilling up to 12 (11.7 net) wells with locations evenly distributed between its northern and southern core areas.
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