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JRNGF - Journey Energy May Have A Challenging 2024 In The Face Of Lower Production
Journey Energy Inc
2024-03-21 15:57:26 ET
Summary
Journey Energy Inc. is undergoing a major organizational transformation, cutting back on drilling activities and focusing on the utility business.
The firm is facing challenges in spinning up gas-fired power plants as timelines get pushed back and capital investments are pushing upward.
The company's shift to the utility business may create headwinds as O&G production is their primary cash flow generator, potentially leading to the need for more outside financing.