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Bullboard - Stock Discussion Forum 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... see more

TSX:GXE - Post Discussion

Gear Energy Ltd > Second Quarter 2021 Operating Results
View:
Post by Betteryear2 on Jul 29, 2021 4:20pm

Second Quarter 2021 Operating Results

CALGARY, AB, July 29, 2021 /CNW/ - Gear Energy Ltd. ("Gear" or the "Company") (TSX: GXE) (OTCQX: GENGF) is providing the following second quarter operating update to shareholders. Gear's Interim Condensed Consolidated Financial Statements and related Management's Discussion and Analysis ("MD&A") for the period ended June 30, 2021 are available for review on Gear's website at www.gearenergy.com and on www.sedar.com.

https://www.newswire.ca/news-releases/gear-energy-ltd-announces-second-quarter-2021-operating-results-832639069.html
Comment by ComradeKomissar on Jul 29, 2021 5:38pm
Pretty decent results. They beat their guidance for year end debt by $3M (down to $12 from $15 previously guided. They are hedged for less than half of production for the remainder of the year, and at awesome prices (in the low $70s WTI)
Comment by Mtklip on Jul 29, 2021 6:49pm
At 70 cents their free cash flow is 25-30%. They will have no debt by Q1 2021.
Comment by bonjovi501 on Jul 30, 2021 9:25am
Bad thing is that they are hedged in Canadian dollars not $70's U.S
Comment by Mtklip on Jul 30, 2021 8:08pm
It wasn't such a bad thing in 2020 when they were hedged at about the same price.
Gear Energy Ltd
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