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Gear Energy Ltd. (GENGF) is a Canadian energy company specializing in oil exploration and development in Alberta and Saskatchewan. The company recently announced the retirement of its former President and CEO, Ingram Gillmore, and the appointment of Kevin Johnson as the new President and CEO. Gear is focusing on maximizing its inventory-rich asset base to deliver long-term shareholder value and plans to continue providing a reliable monthly dividend while maintaining a strong balance sheet. With the anticipated commissioning of the Trans Mountain pipeline in 2024 and favorable outlooks on Canadian heavy oil differentials, Gear aims to further enhance production growth opportunities. The company strives to create meaningful, sustainable growth opportunities while rewarding long-term shareholders through strategic investment decisions.
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Gear Energy announces the payment of a $0.005 monthly dividend per common share on April 30, 2024, designated as an 'eligible dividend' for Canadian income tax purposes.
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Gear Energy releases its February 2024 monthly update to shareholders, providing access to important information. Contact details for further inquiries are also provided in the press release.
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Gear Energy Ltd. announces the retirement of President and CEO Ingram Gillmore, with Kevin Johnson appointed as the new President and CEO effective April 8, 2024. Mr. Johnson brings 20 years of industry experience and a strong track record in the Western Canadian Sedimentary Basin. The Board of Directors expresses gratitude towards Mr. Gillmore's contributions and looks forward to Mr. Johnson's leadership.
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Gear Energy Ltd. (GENGF) declares a monthly dividend of $0.005 per common share, payable on March 29, 2024, to shareholders of record on March 15, 2024. The dividend is classified as an 'eligible dividend' for Canadian income tax purposes.
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Gear Energy Ltd. announces the release of the January 2024 monthly update for shareholders. The update can be accessed on their website. Contact details for the President & CEO and Vice President Finance & CFO are provided.
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Gear Energy Ltd. reports strong financial performance for Q4 2023 and annual reserves summary for 2023. Despite volatile oil prices, Gear delivered solid returns to shareholders and maintained stable production and debt levels. The company's 2023 highlights include funds from operations of $67.8 million, production of 5,801 boe per day, and dividends of $24.9 million. Gear's 2024 outlook focuses on leveraging the Trans Mountain pipeline expansion for further growth opportunities.
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Gear Energy Ltd. (GENGF) completes strategic repositioning process after exploring various alternatives to enhance shareholder value. Despite declining oil prices, the company remains optimistic due to the stabilization of WTI and improved outlook for WCS differentials. The Board concluded the process with no specific transactions being pursued and plans to optimize current operations. Additionally, Gear intends to implement a normal course issuer bid to purchase up to 10% of its outstanding common shares for cancellation.
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Gear Energy Ltd. announces the February 2024 monthly dividend of $0.005 per common share, to be paid on February 29, 2024, designated as an 'eligible dividend' for Canadian income tax purposes.
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Gear Energy Ltd. announces the release of its December 2023 monthly update to shareholders, providing further information on the company's financial performance and operations.
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Gear Energy Ltd. (GXE) confirms the payment of the January 2024 monthly dividend of $0.005 per common share on January 31, 2024, to shareholders of record on January 15, 2024. The dividend is designated as an 'eligible dividend' for Canadian income tax purposes.
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FAQ
What is the current stock price of GEAR ENERGY (GENGF)?
The current stock price of GEAR ENERGY (GENGF) is $0.4337 as of November 1, 2024.
What is the market cap of GEAR ENERGY (GENGF)?
The market cap of GEAR ENERGY (GENGF) is approximately 110.6M.
Who is the new President and CEO of Gear Energy Ltd.?
Kevin Johnson has been appointed as the new President and CEO of Gear Energy Ltd., succeeding Ingram Gillmore.
What are Gear Energy Ltd.'s primary focus areas for growth and value creation?
Gear Energy Ltd. is concentrating on maximizing its inventory-rich asset base to deliver long-term shareholder value through strategic investments and expansion opportunities.
How does Gear Energy Ltd. plan to reward its long-term shareholders?
Gear Energy Ltd. intends to continue providing a reliable and sustainable monthly dividend while ensuring a strong balance sheet to reward its long-term shareholders.
What are the upcoming developments for Gear Energy Ltd. in 2024?
Gear Energy Ltd. anticipates the commissioning of the Trans Mountain pipeline in 2024, along with favorable Canadian heavy oil differentials, to enhance production growth opportunities and further benefit shareholders.
What is the strategic focus of Gear Energy Ltd. under the new leadership?
Under new leadership, Gear Energy Ltd. is emphasizing meaningful, long-term shareholder value creation by maximizing its asset base, making strategic investment decisions, and expanding growth opportunities.
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