Gear Energy Ltd. (T:GXE)
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 |
| Key People | ||
| Kevin Johnson President, Chief Executive Officer, Executive 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: | 263,385,092 as of Apr 15, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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