OPERATIONS

TSX:JOY Latest Price $3.71 Change: $-0.03 (-0.80%) Volume: 100

OUR OPERATIONS

Core Areas of Operation Along a Prolific Resource Fairway

Journey’s operating expertise lies in pursuing growth through drilling on existing core lands in Alberta, implementing water flood projects, completing accretive acquisitions, and growing our overall production and reserves base. We seek to optimize legacy oil pools by applying best practices for horizontal drilling techniques and, where applicable, using waterfloods to enhance production volumes and reserves recovery.

Our diversified assets are located in:

    • Central Alberta:
      Gilby-Duvernay, Crystal, Cherhil, Kaybob, Ferrier, Ante Creek Waterflood
    • Southern Alberta:
      Matziwin, Skiff, Herronto, Medicine Hat EOR

Our unique business model helps mitigate risk and features:

  • Analogous, but geographically distinct, operating areas
  • High working interest
  • Operated production
  • Low annual decline rate
  • Balanced commodity mix
  • Waterflood/EOR improves capital efficiencies
  • Prudent and limited hedging to retain optimal upside
  • Diversified business including power assets that complement our E&P assets

POWER GENERATION ASSETS

In addition to our cash flow generating E&P assets, JOY also operates several power generation properties that provide revenue diversification. We intend to begin applying and procuring equipment for new power projects in 2022.

 

  • Countess Power Plant
    • Journey holds 100% working interest
    • 4 MW of power generation capacity, sold on the Alberta Spot Market
    • Commissioned in Q4 2020 and already paid out
    • Fuel gas supplied by long life natural gas
    • $14 million Net Present Value at 10% (estimated by GLJ)
    • $2.1 million operating income in 2021
    • 78% average efficiency
  • Future Opportunities
    • Potential 15.5 MW power generation project in 2023, to be positioned beside Journey’s Gilby Gas Plant

Journey also operates other properties that are excellent candidates for installation of power generation.

Journey Energy is an oil exploration and production company focused on creating long term value through the development of undercapitalized assets.

HEADQUARTERS

Journey Energy Inc.
Suite 700, Centre 10
517 10th Avenue SW
Calgary, AB  T2R 0A8

CONTACT

Office: 403.294.1635
Fax: 403.232.1317
Emergency: 1.866.514.0030

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