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Gear Energy Ltd. is a junior Canadian crude oil and natural gas exploration and production company with a focus on heavy oil. The Company’s oil and gas properties are located in Alberta, British Columbia and Saskatchewan. The Wildmere field is located within Townships 47, 48 and 49, and Ranges 3, 4, 5 and 6 W4, and is approximately 200 kilometers southeast of Edmonton, Alberta and is Gear’s producing property. The Maidstone propertys located primarily within Township 47 and Ranges 22 and 23 W3 and is approximately 57 kilometers southeast of Lloydminster Alberta.
Gear Energy Ltd 2014 Albaeta Capital Program
- Maidstone Cummings approximately 12 horizontal and up to four vertical drills are currently planned in 2014.
- Wildmere Cummings Gear’s current 2014 capital plan includes drilling approximately seven horizontal wells into this area.
- 20 per cent of Gear’s 2014 budget to land, seismic and exploration activity
- Gear’s plans for potential waterflood implementation in both the Maidstone and Wildmere Cummings plays. Gear hopes to announce its plans later in 2014, with $5 million currently budgeted for initial commercialization.
- With the bullish outlook on heavy oil pricing, Gear has decided to accelerate its 2014 capital program by adding a third drilling rig in the first quarter.
Gear Energy Ltd Recent News
- Gear Energy Ltd. Announces Closing of $63.5 Million Bought Deal Equity Financing
- March 4, 2014 – Increase in Year End Reserve Value
- March 25, 2013 – Board Update
Gear Energy Ltd Management Team Members
- Ingram B. Gillmore – President and Chief Executive Officer
- David Hwang – Vice President Finance and Chief Financial Officer
- Jason Kaluski – Vice President of Operations
- Yvan Chretien – Vice President, Land
- James Lord – Vice President, Business Development
Gear Energy Ltd Comparable Alberta companies by Field & Terminating Zone
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- Spur Resources Ltd – has a balanced oil and natural gas asset base with a growing inventory of low cost, low risk opportunities.