Journey Completes Asset Sale, Shifts Focus to Duvernay Play

Journey Energy Inc. has completed its previously announced asset disposition in Northwest Alberta.

The company sold several assets, including the Ante Creek pool and the Pine Creek gas field, as well as some minor properties in the region.

The disposed assets were producing approximately 1,170 boe/d (68% liquids) and carried end-of-life costs of around $31 million. The proceeds from the sale, before closing adjustments, totaled about $28 million.

Journey plans to use these funds for the ongoing development of its Duvernay light oil resource play.