Business
Journey Announces Disposition of Non-Core Assets
Calgary, Alberta--(Newsfile Corp. - May 14, 2026) - Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) ("Journey" or the "Company") is pleased to announce it has entered into a definitive agreement with a private company for the disposition of its Countess assets (the "Assets") for total cash consideration of $7 million, subject to customary closing adjustments.The Assets being sold include the Countess gas field as well as Journey's 4 MW Countess Power Generation Facility. The Assets are currently..
About this update from Journey Energy, Inc.
[{"type":"text","content":"Calgary, Alberta--(Newsfile Corp. - May 14, 2026) - Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) ("Journey" or the "Company") is pleased to announce it has entered into a definitive agreement with a private company for the disposition of its Countess assets (the "Assets") for total cash consideration of $7 million, subject to customary closing adjustments.","length":389,"tagName":"p"},{"type":"text","content":"The Assets being sold include the Countess gas field as well as Journey's 4 MW Countess Power Generation Facility. The Assets are currently producing approximately 953 boe/d (100% natural gas) from 425 natural gas wells and represent approximately 9% of the Company's AER Liability. Journey had allocated no capital spending to the Assets for the last several years.","length":374,"tagName":"p"},{"type":"text","content":"The disposition is expected to close on June 1, 2026 and the proceeds will be directed to the ongoing development of the Duvernay light oil resource play.","length":154,"tagName":"p"},{"type":"text","content":"This divestment, in conjunction with the recently announced sales process through TPH&Co., is consistent with Journey's medium-term goals of improving corporate sustainability by increasing Journey's per boe netbacks while reducing Journey's end-of life costs as a percentage of producing asset value.","length":317,"tagName":"p"},{"type":"text","content":"2026 GUIDANCE","length":13,"tagName":"p"},{"type":"text","content":"The impact of the disposition on 2026 sales volumes guidance is estimated to be a reduction of approximately 500 boe/d. At this time there is no change to the previously announced capital spending guidance. Based on current, internal, forecast pricing for 2026, the disposition is expected to have no material impact on Journey's Adjusted Funds Flow.","length":354,"tagName":"p"},{"type":"text","content":"About the Company","length":17,"tagName":"p"},{"type":"text","content":"Journey is a Canadian exploration and production company focused on oil-weighted operations in Alberta, Canada. Journey's strategy is to grow its production base by drilling on its existing core lands, implementing secondary and tertiary flood projects on its existing lands, and by executing on accretive acquisitions. In conjunction with its joint venture ...