March 21, 2017 / 2:20 AM / 6 months ago

BRIEF-Journey Energy Q4 net income per share $1.13

March 20 (Reuters) - Journey Energy Inc:

* Journey Energy Inc. Reports its 2016 financial results, announces strategic acquisition, and updates 2017 guidance

* entered into a agreement with a private company to acquire interests in our central Alberta core for an aggregate price of approximately $35.6 million

* Says journey achieved production of 8,505 BOE/D (49% liquids) in q4, representing a 4% decrease from Q3 levels

* agreement consists of comprised of $29.6 million of cash and 2.1 million common shares of journey

* Says journey realized net income of $1.13 per basic and diluted share in Q4

* sees annual average production 10,100 BOE/D - 10,500 BOE/D

* upon closing of acquisition, co anticipates to be drawn approximately $70 million on its existing $90 million syndicated credit facility

* revised 2017 forecasted funds flow from operations of $50-54 million is based upon following average prices Source text for Eikon: Further company coverage:

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