Weak natural gas prices and non-cash impairments led to a sharp decline in 2017
earnings for Journey Energy Inc. The company reported a 2017 net loss of $133
million, down from 2016 earnings of $52.6 million.
The loss includes non-cash net asset impairments of $39.6 million and $104.1
million de-recognition of its deferred tax asset. Both of these write-downs were
caused by the decline in forward looking natural gas prices and its shift in production
to a more natural-gas-weighted mix.
Overall......
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