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Gear Energy Ltd (GXE.TO)

GXE.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Gear Energy Announces Update To Credit Facilities
Friday, 24 May 2019 

May 24 (Reuters) - Gear Energy Ltd ::GEAR ENERGY LTD. ANNOUNCES UPDATE TO CREDIT FACILITIES.GEAR ENERGY LTD - AMENDED CREDIT FACILITIES HAVE BEEN REDUCED FROM A TOTAL $115 MILLION TO $90 MILLION.GEAR ENERGY - AMENDED CREDIT FACILITIES IS COMPRISED OF A $70 MILLION SYNDICATED REVOLVING TERM CREDIT FACILITY AND A $20 MILLION OPERATING CREDIT FACILITY.GEAR ENERGY LTD - CURRENTLY, GEAR IS $70 MILLION DRAWN ON ITS CREDIT FACILITIES.GEAR ENERGY - CREDIT FACILITIES REDUCTION IS RESULT OF A VARIETY OF FACTORS INCLUDING RECENT SUPREME COURT OF CANADA RULING ON REDWATER.GEAR ENERGY LTD - AS OF MAY 31, NET DEBT INCLUSIVE OF CONVERTIBLE DEBENTURES IS FORECASTED TO BE APPROXIMATELY $74 MILLION.GEAR ENERGY - TERMS OF AMENDED CREDIT FACILITIES REMAIN UNCHANGED WITH EXCEPTION OF ADDITIONAL COMPLIANCE, CONSENT AND REPORTING REQUIREMENTS.  Full Article

Gear Energy Ltd Sees 2018 Annual Production Of 6,650 BOE/D-6,750 BOE/D
Wednesday, 7 Nov 2018 

Nov 7 (Reuters) - Gear Energy Ltd ::GEAR ENERGY LTD. ANNOUNCES THIRD QUARTER 2018 OPERATING RESULTS.GEAR ENERGY LTD - PRODUCTION OF 6,748 BOE PER DAY FOR Q3, DOWN ABOUT 4 PERCENT FROM Q2.GEAR ENERGY LTD - SEES 2018 ANNUAL PRODUCTION 6,650 BOE/D - 6,750 BOE/D.  Full Article

Gear Energy Ltd. Announces Acquisition Of Steppe Resources Inc.
Tuesday, 24 Jul 2018 

Gear Energy Ltd ::. ANNOUNCES ACQUISITION OF STEPPE RESOURCES INC..IN AGGREGATE, TOTAL CONSIDERATION REPRESENTS A STEPPE ENTERPRISE VALUE OF $70.4 MILLION.STEPPE SHAREHOLDERS WILL RECEIVE, FOR EACH STEPPE SHARE HELD, 0.1445 GEAR COMMON SHARES.GEAR WILL ASSUME NET DEBT OF STEPPE OF APPROXIMATELY $40.9 MILLION, AFTER TAKING INTO ACCOUNT EXPECTED STEPPE TRANSACTION COSTS.GEAR ENERGY- ACQUISITION OF STEPPE INCLUDE PRODUCTION OF ABOUT 1,175 BOE/D FOR JUNE 2018, WITH ESTIMATED 2H ANNUALIZED FFO OF $24 MILLION.  Full Article

Gear Energy Announces Operational Update And 2018 Revised Outlook
Wednesday, 21 Mar 2018 

March 21 (Reuters) - Gear Energy Ltd ::GEAR ENERGY LTD. ANNOUNCES OPERATIONAL UPDATE AND 2018 REVISED OUTLOOK.GEAR ENERGY LTD SEES 2018 ANNUAL PRODUCTION 7,350 BOE/D.GEAR ENERGY LTD - SEES 2018 CAPITAL AND ABANDONMENT EXPENDITURES OF $50 MILLION.  Full Article

Gear Energy Ltd. Qtrly ‍Shr $0.03​
Wednesday, 21 Feb 2018 

Feb 21 (Reuters) - Gear Energy Ltd ::GEAR ENERGY LTD. ANNOUNCES FOURTH QUARTER 2017 OPERATING RESULTS.GEAR ENERGY LTD QTRLY ‍SHR $0.03​.GEAR ENERGY LTD - ‍"COMMODITY PRICES INTO EARLY 2018 HAVE CONTINUED THEIR TREND OF VOLATILITY"​.GEAR ENERGY LTD QTRLY ‍TOTAL PRODUCTION 7,090 BOE/D VERSUS 6,203 BOE/D​.GEAR ENERGY LTD QTRLY ‍SALES OF CRUDE OIL, NATURAL GAS & NATURAL GAS LIQUIDS $30 MILLION VERSUS $22.7 MILLION​.  Full Article

Gear Energy posts qtrly loss of C$2.7 mln
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - Gear Energy Ltd :Gear energy ltd. announces third quarter 2017 operating results.Qtrly total production 6,525 BOE/D versus 5,420 BOE/D‍​.Qtrly net loss C$2.7 million versus C$2.5 mln‍​.  Full Article