Journey Energy May Have A Challenging 2024 In The Face Of Lower Production

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.