Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Gear Energy Ltd T.GXE

Alternate Symbol(s):  GENGF

Gear Energy Ltd. is a Canadian exploration and production company with heavy and light oil production in Central Alberta, West Central Saskatchewan and Southeast Saskatchewan. The Company carries on the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its properties include Celtic/Paradise Hill, Saskatchewan; Wildmere Area, Alberta; Wilson Creek, Alberta, and Tableland, Saskatchewan. The Celtic/Paradise Hill is located within Township 52, and Ranges 23 and 24 W3 and is approximately 40 kilometers northeast of Lloydminster, Alberta. The Wildmere field is located within Townships 47, 48 and 49, and Ranges 3, 4, 5 and 6W4, is approximately 200 kilometers southeast of Edmonton, Alberta. The property consists of approximately 24,325 gross (23,000 net) acres of lands. The Tableland property development is predominately focused on the Three Forks/Torquay formation, with minor production from the Bakken and Ratcliffe formations.


TSX:GXE - Post by User

Post by lovehockeyon Jun 12, 2023 6:28pm
173 Views
Post# 35492479

CAPEX...

CAPEX......should be and will be reduced. First quarter of 2022 they were averaging Capex at $2.8mln a month,, the entire year of 2021 it was $2.4mln a month. In 2023 they reved it up to $6mln a month. Considering where the price of oil is sitting now versus end of 2021/early 2022 it is clear that Capex will be reduced as there is no point of maintaining this ridiculously high Capex when the oil price is being held down. Looking at the production numbers from 2021 I am not seeing any significant increases even though they are spending extra $3+mln a month. Currently they should maintain the dividend for another year or two with Capex being lowered. Capex increase should only be attached to the price of WCS going above $70.   
<< Previous
Bullboard Posts
Next >>