Journey Energy (OTC) ( (JRNGF) ) has released its Q4 earnings. Here is a breakdown of the information Journey Energy (OTC) presented to its investors.
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Journey Energy Inc., a publicly traded company, is engaged in the exploration, development, and production of crude oil and natural gas, as well as the operation of power generation properties in Alberta, Canada. In its latest earnings report, Journey Energy Inc. presented its financial performance for the year ending December 31, 2024, highlighting a net income of $5.1 million, a decrease from the previous year’s $15.8 million. The company’s total revenue for 2024 was $166.6 million, down from $186.9 million in 2023, primarily due to lower petroleum and natural gas sales. Key financial metrics included a depletion expense of $39.2 million and operating expenses of $92.6 million. The company also issued convertible debentures, contributing to a slight increase in total equity to $326.5 million. Looking ahead, Journey Energy’s management remains focused on optimizing its operations and exploring strategic opportunities to enhance shareholder value.