Journey Energy Acquires PrivateCo for Strategic Infrastructure

Journey Energy Inc., an oil-weighted exploration and production company based in Calgary, Alberta, has made a strategic move by acquiring PrivateCo for $8.0 million. The acquisition includes a 0.98% working interest in the Keyera Rimbey natural gas processing facility and associated infrastructure.

The Keyera Rimbey facility generates approximately $0.7 million per year in third-party processing revenue, which is expected to contribute positively to Journey's financials. Moreover, the acquisition will reduce operating expenses for processing Journey's working interest gas production from the Duvernay Joint Venture.

Journey forecasts that the purchase will pay out within two to three years, based on forecast revenues and cost reductions. The company has also updated its corporate presentation, which includes 2026 guidance and preliminary initial guidance for 2027.