Stocks and Investing Stocks and Investing
Mon, December 2, 2024
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[ Mon, Dec 02nd 2024 ] - Thomas Matters
Stocks in play: Gear Energy Ltd.

Stocks in play: Gear Energy Ltd.


Published on 2024-12-02 10:31:24 - Thomas Matters, WOPRAI
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  • Has entered into an arrangement agreement with a large publicly traded company pursuant to which the Purchaser will acquire all of the issued and outstanding common shares of Gear

The article from The Globe and Mail discusses Gear Energy Ltd.'s recent operational updates and financial performance. Gear Energy announced that its 2023 capital expenditure program was completed under budget, with total capital spending amounting to $41.5 million against a budget of $45 million. The company also reported a significant increase in production, averaging 6,322 barrels of oil equivalent per day (boe/d) in the fourth quarter, up from 5,978 boe/d in the third quarter. This increase was attributed to successful drilling and optimization efforts. Additionally, Gear Energy highlighted its focus on environmental, social, and governance (ESG) initiatives, including a reduction in greenhouse gas emissions intensity. The company also provided an outlook for 2024, expecting to maintain production levels while continuing to manage costs effectively.

Read the Full The Globe and Mail Article at:
[ https://www.theglobeandmail.com/investing/markets/stocks/GXE-T/pressreleases/29848861/stocks-in-play-gear-energy-ltd/ ]
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