Gear Energy Ltd. reported production results for the fourth quarter of 2014. The company achieved field production of approximately 7,275 boe/d in the fourth quarter of 2014. Estimated sales production for the quarter came in slightly lower at 7,000 boe/d due to rail car availability and pipeline apportionments. Fourth quarter sales production is a 15% increase per debt adjusted share from the fourth quarter of 2013.

The company plans to dedicate excess cash flow to pay down net debt by an estimated $20 million during the first half of 2015. The company will also shut-in an additional 350 bbl/d of high cost production resulting in increased net cash flow. The revised production estimate for the first half of 2015 is 6,400 boe/d.