Journey reports third quarter financial results and provides update on operations and banking renewal

CALGARY, Nov. 7, 2016  - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") is pleased to announce its financial and operating results for the third quarter of 2016.  The complete set of financial statements and management discussion and analysis for the three and nine month periods ended September 30, 2016 will be posted on www.sedar.com and on the Company's website www.journeyenergy.ca in due course.
 
HIGHLIGHTS
Achieved a production level of 8,177 boe/d (54% liquids) in the third quarter.
Closed 4 divestments and 2 acquisitions resulting in net production dispositions of approximately 915 boe/d (56% natural gas). The dispositions were low net back, non-core production. The net divestments had a positive impact on Journey's LMR value, increasing it to 2.4.
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Earthstone Energy, Inc. Reports Third Quarter 2016 Results

THE WOODLANDS, TX /  November 8, 2016 / Earthstone Energy, Inc. (NYSE MKT: ESTE) ("Earthstone", the "Company", "we" or "us"), today announced financial and operating results for the three month period ended September 30, 2016.
 
Third Quarter 2016 Summary
Average daily production of 3,979 Boepd
Total revenue of $11.1 million, which includes the effects of realized hedges
Net loss of $3.9 million
Adjusted EBITDAX(1) of $2.8 million 
(1) See "Reconciliation of Non-GAAP Financial Measures" section below.
Operations Update – Eagle Ford
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Legacy Reserves LP Announces Execution of $300 Million Second Lien Term Loan Credit Agreement, Additional Director, and Upcoming Q3 2016 Conference Call

MIDLAND, Texas, Oct. 25, 2016  -- Legacy Reserves LP ("Legacy") (LGCY) today announced that it has executed a second lien term loan credit agreement (the “Second Lien”) with GSO Capital Partners LP (“GSO”) to provide loans in an aggregate amount up to $300 million.  Advances under the Second Lien will be issued with an upfront fee of 2%, bear interest of 12.0% per annum and mature, subject to certain conditions, on August 31, 2021.  Legacy intends to use the initial $60 million of gross loan proceeds to repay outstanding indebtedness and pay associated transaction expenses.
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SAExploration Announces Receipt of Alaskan Tax Credit Certificates and Access to Remaining $15 Million Under Senior Loan Facility

HOUSTON, Oct. 24, 2016  -- SAExploration Holdings, Inc.(SAEX), or SAE, today announced that it has received approximately $24.4 million of tax credit certificates from the state of Alaska’s Department of Revenue. SAE further announced that as a result of receiving these tax credit certificates, and having substantially satisfied the conditional requirements under its senior term loan facility (the “Senior Loan Facility”), it has been granted access to the remaining $15.0 million of funding available under its Senior Loan Facility.
 
Jeff Hastings, Chairman and CEO of SAE, commented, “We are very pleased that we have begun to receive tax credit certificates from the State of Alaska sooner than expected and access to the remaining $15.0 million under our Senior Loan Facility ensures our ability to progress through the receipt and monetization of the remaining tax credits. We believe the value that can ultimately be derived from these tax credit certificates, and those yet to be issued, will be highly accretive to the company and to our stockholders.”
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Montana Exploration Announces Five-Well Shaunavon Oil Drilling Program

CALGARY, Sept. 27, 2016 - Montana Exploration Corp. ("Montana Exploration" or the "Company") (TSXV:MTZ.V -News) today announced that it has entered into an agreement (the "Farmout Agreement") under which the Company will drill and operate five Shaunavon oil well prospects that were delineated using the Company's extensive 3D Seismic on its directly held and option lands comprising approximately 447,000 acres (or 689 square miles) in Blaine & Hill Counties, Montana.
 
Drilling Program & Farmout
The Farmout Agreement was entered into with Rioco Partners, Ltd. ("Rioco"), a company managed by Montana Exploration's largest shareholder, who is also a director and "control person" of Montana Exploration.  Five prospect wells identified by 3D Seismic will be drilled under the Farmout Agreement, targeting undiscovered recoverable resources of over 21 million barrels of oil, with the first well intended to be spudded on or about October 4, 2016 (the "Drilling Program").  All five wells will be drilled vertically to approximately 4,000 feet and are expected to cost approximately CAD$750,000 per well for a total program cost ofCAD$3.75 million. 
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