Gear Energy lifts credit facilities by C$40 million to C$115 million

By Wendy Van Sickle

Columbus, Ohio, Sept. 18 – Gear Energy Ltd. increased its senior secured credit facilities by C$40 million to C$115 million, according to a press release.

Of the total, about C$69 million has been drawn, which includes Steppe Resources Inc.’ net debt that Gear assumed upon its acquisition of the company. Steppe’s credit facility was repaid and terminated.

Calgary, Alta.-based Gear Energy is a heavy oil focused publicly traded exploration and production company.

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