March 28, 2016 / 9:38 PM / 2 years ago

BRIEF-Gear Energy announces $10 mln 2016 capital budget

March 28 (Reuters) - Gear Energy Ltd :

* Gear Energy Ltd announces $10 million 2016 capital budget

* Says “fundamentals of oil market have begun to improve dramatically from lows seen early in 2016”

* Sees 2016 average production of 4,000 boe/d

* Under current strip price forecast co expects being about 75 percent drawn on existing $60 million syndicated credit facility at June 1, 2016 Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below