Journey Energy (OTC) ( (JRNGF) ) has released its Q2 earnings. Here is a breakdown of the information Journey Energy (OTC) presented to its investors.
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Journey Energy Inc. is a Canadian exploration and production company primarily engaged in conventional, oil-weighted operations in Alberta, Canada, with a focus on expanding its Duvernay light oil resource play and power generation business.
In its second quarter of 2025, Journey Energy reported a net income of $4.1 million, a significant improvement from a loss in the same quarter of the previous year, alongside a 67% increase in Adjusted Funds Flow to $15.9 million. The company also highlighted progress in its Duvernay drilling program and advancements in its power generation projects.
Key financial metrics for the quarter included sales revenue of $45.2 million, a decrease from the previous year, but with a notable reduction in operating costs and an increase in liquids production. The company also reported successful drilling and production results from its Duvernay wells, which exceeded internal expectations, and continued construction on the Gilby power generation asset.
Looking ahead, Journey Energy remains focused on its Duvernay project as a central component of its capital plans, with expectations of increased spending in 2026. The company is also pursuing strategic asset divestments to optimize its financial resources and support future growth initiatives.