Journey Energy Inc. announces its financial results for the first quarter of 2021. The complete set of financial statements and management discussion and analysis for the periods ended March 31, 2021 and 2020 are posted on www.sedar.com and on the Company's website www.journeyenergy.ca. Highlights for the first quarter are as follows: Produced 7,577 boe/d with 54% coming from natural gas production; 38% from crude oil and [...]
Journey Energy Inc. is pleased to announce its 2020 reserves, operating and financial results. The complete set of financial statements and management discussion and analysis for the year ended December 31, 2020 are posted on www.sedar.com and on the Company's website www.journeyenergy.ca. Highlights for 2020: Produced 8,074 boe/d in the fourth quarter and 8,379 boe/d for the year. Realized funds flow of $13.5 million for [...]
Journey Energy Inc. reports that it has today formally terminated the purchase and sale agreement with the third-party purchaser for Journey's recently commissioned 4.2 megawatt power plant and the associated Countess natural gas assets . Journey has decided to terminate the agreement with the third party rather than provide a further extension to the closing date. The disposition of the Countess Assets was originally [...]
Journey Energy Inc. reports that it has today agreed to a further extension to the closing date for the previously announced disposition of its Countess area assets. In conjunction with this extension, Journey has also executed an amendment to its credit agreement with Alberta Investment Management Corporation to extend the maturity date of the $15 million tranche of term debt, to coincide with the revised closing date of [...]
Journey Energy Inc. reports that its previously announced disposition of its Countess area assets has been mutually deferred with the purchaser to a new closing date of February 16, 2021. In addition, an amendment to the credit agreement with Alberta Investment Management Corporation has been executed to extend the maturity date of the $15 million tranche of term debt, to coincide with the revised closing date of the [...]
Journey Energy Inc. reports that it's previously announced disposition of its Countess area assets has been mutually deferred with the purchaser to a new closing date of February 1, 2021. The assets include Journey's newly commissioned 4.2 megawatt power generation facility, as well as all wells and ancillary facilities in the Countess area. An additional deposit has been received from the purchaser in escrow, and an [...]
Journey Energy Inc. announces its financial and operating results for the three and nine month periods ending September 30, 2020. The complete set of financial statements and management discussion and analysis for the periods ended September 30, 2020 and 2019 are posted on www.sedar.com and on the Company's website www.journeyenergy.ca. 2020 Achieved production of 8,311 boe/d in the third quarter. Liquids accounted for [...]
Journey Energy Inc. is pleased to announce that it has entered into definitive agreements for the sale of assets in both its Countess area ; and also producing assets in its Telfordville area. Total proceeds from these asset sales of approximately $15 million before closing adjustments, will be used to retire indebtedness associated with new term loans advanced from the Alberta Investment Management Corporation on October [...]
Journey Energy Inc. is very pleased to announce the closing of an agreement for the settlement of its syndicated bank borrowings. Journey has secured a $38 million term-debt facility from its major shareholder, Alberta Investment Management Corporation , to fund the settlement of its $75 million credit facility with its syndicate of first-lien lenders. In addition to the initial $38 million payment to the banking [...]
Journey Energy Inc. announces a further extension to the forbearance agreement with its banking syndicate. Journey reports that it has reached an agreement with its syndicate of lenders to extend the current forbearance period until October 30, 2020 to enable the Company and its lending syndicate to continue discussions regarding the repayment of outstanding bank borrowings. The company will issue another update on or [...]
Journey Energy Inc. announces a further extension to the forbearance agreement with its banking syndicate. Journey reports that it has reached an agreement with its syndicate of lenders to extend the current forbearance period until October 13, 2020 to allow discussions with the lending syndicate to continue regarding the outstanding bank debt. The extension of the forbearance period will allow Journey and the syndicate [...]
Journey Energy Inc. announces a further extension to the forbearance agreement with its banking syndicate. Journey reports that it has reached an agreement with its syndicate of lenders to extend the current forbearance period until September 30, 2020. Journey and its lending syndicate continue to be in discussions regarding the outstanding bank debt. This extension of the forbearance period will allow Journey and the [...]
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