Journey Energy has quietly built up its position in the emergent Duvernay shale play even as it repurchases shares from its largest investor, Hong Kong’s MIE Maple Investments, and puts non-core assets on the chopping block. The company this year is building its newly strengthened positions in central and southern Alberta, where it says pricing is sufficient to maintain production levels while improving netbacks and increasing liquids weighting.Journey is repurchasing 24.8% of its outstanding......
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