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BRIEF-Journey Energy Inc. Reports Its 2020 Year-End Results

Published 2021-03-09, 10:12 p/m
Updated 2021-03-09, 10:18 p/m
© Reuters.

© Reuters.

Journey Energy Inc JOY.TO :

* . REPORTS ITS 2020 YEAR-END RESULTS

* DEC-QUARTER PRODUCTION REVENUE $19.7 MILLION, DOWN 28%

* QTRLY EARNINGS PER SHARE $0.75

* ESTIMATES THAT CASH FLOW FROM COUNTESS ASSETS WILL BE $1.5-2.0 MILLION IN Q1 OF 2021 ALONE

* DECIDED TO TAKE A CONSERVATIVE APPROACH TO CAPITAL SPENDING FOR 2021

* SEES 2021 ANNUAL AVERAGE PRODUCTION 7,300 - 7,600 BOE/D

* SEES 2021 CAPITAL SPENDING $3.5 - $5.0 MILLION

* SEES 2021 YEAR-END NET DEBT $62 - $65 MILLION

* SEES 2021 FUNDS FLOW PER BASIC WEIGHTED AVERAGE SHARE $0.68 - $0.75

* QTRLY FUNDS FLOW PER SHARE $0.14

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