Greenfire Resources (GFR) Company Report

Analyst Coverage

Research analysts who have asked questions during Greenfire Resources earnings calls.

Wangler Capital, LLC

3 questions for GFR

Jotun

1 question for GFR

Jotun

1 question for GFR

private investor

1 question for GFR

Recent press releases and 8-K filings for GFR.

Greenfire Resources Announces Completion of Rights Offering and Debt Refinancing

GFR

Debt Issuance

Greenfire Resources Ltd. successfully completed its Rights Offering, issuing 55,147,055 Common Shares at C$5.44 or US$3.85 per share, which generated approximately C$298.5 million in gross proceeds.
The net proceeds from the Rights Offering, combined with cash on hand, were utilized to redeem the outstanding US$237.5 million aggregate principal amount of 12% senior secured notes due 2028.
The company also closed an upsized $275.0 million revolving credit facility with Canadian banks, which is currently undrawn, making Greenfire debt-free as of December 19, 2025.
As a result of the Rights Offering, Greenfire has 125,404,146 Common Shares issued and outstanding as of December 19, 2025.

20 hours ago

Greenfire Resources Announces Preliminary Rights Offering Results

GFR

Debt Issuance

Greenfire Resources Ltd. announced preliminary results for its C$300 million rights offering, which expired on December 16, 2025.
The rights offering was oversubscribed, with the company expecting to issue the maximum of 55,147,058 common shares without relying on the standby commitment.
The company anticipates the rights offering will close on December 17, 2025.
Proceeds from the offering, combined with cash on hand, are intended to fund the redemption of US$237.5 million in 12.00% senior secured notes due 2028.

6 days ago

Greenfire Resources Launches Rights Offering and Conditional Note Redemption

GFR

Greenfire Resources Ltd. has launched a CAD$300 million rights offering to fund the conditional redemption of its US$237.5 million 12% senior secured notes due 2028.
The Rights Offering allows shareholders of record as of November 17, 2025, to subscribe for new Common Shares at a price of CAD$5.44 or US$3.85, reflecting a 15% discount.
The Waterous Energy Fund, holding approximately 55.9% of shares, has committed to a standby purchase agreement to ensure the full subscription of the offering.
The redemption of the 2028 Notes is expected on December 19, 2025, at 106.000% of the principal amount plus accrued interest, and is contingent on the completion of the Rights Offering.
The company expects the number of outstanding Common Shares to increase from 70,256,512 to 125,403,570 following the offering.

Nov 6, 2025, 1:38 PM

Greenfire Resources Announces Q3 2025 Results and Recapitalization Plan

GFR

Earnings

Guidance Update

Debt Issuance

Greenfire Resources announced a transformational recapitalization plan to fully repay outstanding senior secured notes, including a $300 million equity rights offering fully backstopped by Waterous Energy Fund, and an upsized $275 million revolving credit facility, expecting to be debt-free at closing.
The company expects to achieve the top end of its 2025 production guidance of 15,000-16,000 barrels a day and reaffirmed its 2025 capital guidance target of $130 million.
For 2026, Greenfire's Board approved a capital budget of $180 million with anticipated annual bitumen production of 15,500-16,500 barrels per day, noting production levels are expected to be relatively flat due to project timelines and a planned major turnaround.
Operational updates include the successful restoration of a failed boiler and the expected operation of sulfur removal facilities in November 2025.

Nov 4, 2025, 2:00 PM

Greenfire Resources Announces Q3 2025 Results, Refinancing Plan, and 2026 Guidance

GFR

Earnings

Debt Issuance

Guidance Update

Greenfire Resources Ltd. reported a net loss of $8.8 million for Q3 2025, a $67.7 million decrease compared to net income of $58.9 million in Q3 2024, primarily due to unrealized losses on risk management contracts, lower Adjusted EBITDA, and foreign exchange losses.
Bitumen production for Q3 2025 was 15,757 bbls/d, an 18% decrease from Q3 2024, attributed to reduced capacity from an unplanned steam generation unit loss and natural field declines. Full steam capacity is expected to be restored by year-end 2025.
The company announced its intent to conduct a C$300 million rights offering to fund the redemption of US$237.5 million of outstanding senior secured notes due 2028. This is part of refinancing initiatives that include securing an upsized $275.0 million revolving credit facility, with the expectation of being debt-free at closing.
For 2026, Greenfire provided guidance for an annual production average of 15,500 – 16,500 bbls/d and capital expenditures of $180.0 million, which includes $65 million for sustaining capital and $115 million for growth capital.