Gear Energy Ltd. (T:GXE*CA)

Business Focus: Oil & Gas Exploration and Production (NEC)

Sector:  Energy Industry:  Oil & Gas Exploration and Production
 
Company Contact
Address: Suite 800, 205- 5th Avenue SW
CALGARY AB T2P 2V7
Tel: N/A
Website: https://gearenergy.com
IR: See website
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Key People
Kevin Johnson
President, Chief Executive Officer, Executive Director
Ingram B. Gillmore
President, Chief Executive Officer, Director
David Hwang
Chief Financial Officer, Vice President - Finance
Jason Kaluski
Vice President - Operations
Bryan P. Dozzi
Vice President - Engineering
Dustin Ressler
Vice President - Exploration
Business Overview
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.
Financial Overview
For the fiscal year ended 31 December 2023, Gear Energy Ltd revenues decreased 17% to C$131.1M. Net income decreased 89% to C$8.6M. Revenues reflect Petroleum and natural gas sales decrease of 21% to C$148.7M, Unrealized (loss) gain on risk managemen decrease from C$3.7M to -C$1.1M. Net income also reflects Average Production Costs per unit, Total increase of 5% to C$25.94 per barrel, Impairment reversal decrease from C$10M (income) to C$0K.
Employees: 30 as of Dec 31, 2023
Reporting Currency: Canadian Dollars
Enterprise value: N/A
Annual revenue (TTM): $131.13M as of Dec 31, 2023
EBITDA (TTM): $65.23M as of Dec 31, 2023
Net annual income (TTM): $8.59M as of Dec 31, 2023
Free cash flow (TTM): -$9.57M as of Dec 31, 2023
Net Debt Last Fiscal Year: $21.16M as of Dec 31, 2023
Shares outstanding: 262,250,000 as of Dec 31, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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