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Journey Energy Outlines 2016 Capex Plan
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Journey Energy Inc. announced its financial results for the first quarter of 2016.
2016 Capex Journey's muted 2016 capital program is currently forecast to yield annual production volumes in the 8,500 to 8,900 BOE/d range. The currently projected $9 million in capital will be allocated to drilling, completing, equipping and tieing-in 2 (2.0 net) wells in Brooks, and Skiff. Journey is increasing its emphasis on water flood expansion with injection projects in Matziwin, Skiff and Herronton. These projects require longer lead times for production response, which in turn provide time for commodity prices to stabilize. These projects will contribute to the reduction in our corporate decline rate from the current 22% to approximately 18% by 2017. Journey is also planning a number of…- ✓ Full news archive — U.S., Canada & international coverage
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