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Gear Energy Ltd T.GXE

Alternate Symbol(s):  GENGF

Gear Energy Ltd. is an oil-focused exploration and production company. The Company carries on the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its operations are located in three core areas: Lloydminster Heavy Oil, Central Alberta Light/Medium Oil and Southeast Saskatchewan. The Company is also engaged in focused on improving oil recoveries through the application of water flood technology. The key properties in the Central Alberta Light asset include Wilson Creek, Ferrier, Killam, Drayton Valley, and Chigwell.


TSX:GXE - Post by User

Post by ztransforms173on Dec 18, 2024 7:42pm
167 Views
Post# 36369317

GOOD COP GROWTH With $ 43M In 2025 CAPITAL SPENDING

GOOD COP GROWTH With $ 43M In 2025 CAPITAL SPENDING
- FORECAST Q4/2025 COP: 3,000 to 3,400 boe/d

- this is an EXCELLENT OUTCOME IF it is ACTUALLY REALIZED


LOTUS CREEK 2025 BUDGET

The Gear Board of Directors has approved a 2025 capital budget for Lotus Creek of $43 million, which is forecasted to achieve average production of 2,000 to 2,400 boe/d (77% light oil and NGLs, 10% heavy oil, 13% natural gas), with Q1 2025 production forecasted at 1,600 to 1,700 boe/d and Q4 2025 production forecasted at 3,000 to 3,400 boe/d. The program is expected to generate an 88 per cent increase in production from Q4 2024 to Q4 2025.

The capital program is aimed to achieve significant production and cashflow growth, with $23 million dedicated to drilling, $15 million allocated to longer term, strategic projects such as seismic, major infrastructure and acquisition of new undeveloped lands, $2 million applied to field projects and other, and $3 million dedicated to abandonment and reclamation activities.

 

***

z173

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