Gear Energy Ltd T.GXE

Alternate Symbol(s): GENGF

Energy Oil & Gas E&P

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.

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Gear Energy Ltd > What we already knew

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Comment by lovehockeyon Jul 20, 2023 3:30pm

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Post# 35550271

RE:RE:What we already knew

You can call it gymnastics or anything else. Point is there is no reason to splash $6mln monthly in Capex if oil prices are suppressed by SPR injections. I really liked the fact that when in April oil price was higher and so was the production. In June the oil priced was suppressed and the production was lower. No reason to maintain relatively high production if the oil prices are not there. Very dynamic management.

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