Gear Energy Ltd. Announces Production Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:28 pm EST
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Gear Energy Ltd. announced production results for the third quarter and nine months ended September 30, 2023. For the quarter, the company reported Heavy oil production of 2,601 bbl/d compared to 2,546 bbl/d a year ago. Light and medium oil was 1,890 bbl/d compared to 1,971 bbl/d a year ago. Natural gas liquids was 233 bbl/d compared to 320 bbl/d a year ago. Natural gas was 4,720 mcg/d compared to 5,339 mcf/d a year ago.
For the nine months, the company reported Heavy oil production of 2,677 bbl/d compared to 2,756 bbl/d a year ago. Light and medium oil was 1,963 bbl/d compared to 1,845 bbl/d a year ago. Natural gas liquids was 268 bbl/d compared to 278 bbl/d a year ago. Natural gas was 4,953 mcg/d compared to 5,135 mcf/d a year ago.
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.
GEAR ENERGY LTD. 
