Well Cost | Quarterly / Earnings Reports | Third Quarter (3Q) Update | Production Rates | Capital Markets | Capital Expenditure | Drilling Program - Wells | Capital Expenditure - 2017
Gear Spends $10.5MM in Q3, Up 49.5% YoY
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Gear Energy reported its Q3 results. Highlights include:
Capital expenditures were $10.5 million in Q3, an increase of 49.5% from capital expenditures of $7.03 million in Q3 2016 Total average daily production in Q3 was 6,525 boe/d, an increase of 20.4% from average daily production of 5,420 in Q3 2016 Drilled 13 (13.0 net) wells in Q3 2016 Gear Energy reported total average daily production of 6,525 boe/d in Q3 2017. This was an increase of 20.4% from Q3 2016 when production was 5,420 boe/d. Heavy oil production was 4,054 bbl/d and light and medium oil production was 1,290 bbl/d, an increase of 5.2% and 80.2%, respectively from Q3 2016. NGL production was 279 bbl/d, an increase of 92.4% from Q3 2016. Natural gas production was 5,415 mcf/d, an increase of 27.9% from Q3 2016.During Q3…
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