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Recent press releases and 8-K filings for GFR.
Greenfire Resources Ltd. completes refinancing initiatives, becomes debt-free
GFR
Debt Issuance
- Greenfire Resources Ltd. completed its refinancing initiatives on December 19, 2025, which included a C$300.0 million rights offering, the redemption of US$237.5 million aggregate principal amount of 12% senior secured notes due 2028, and the upsizing of its revolving credit facility to C$275.0 million.
- The rights offering was fully subscribed, resulting in the issuance of 55,147,055 Common Shares at a price of C$5.44 or US$3.85 per Common Share, generating approximately C$298.5 million in gross proceeds.
- As a direct result of these refinancing initiatives, Greenfire Resources Ltd. became debt-free as of December 19, 2025.
- As of December 19, 2025, the Corporation had 125,404,146 Common Shares issued and outstanding.
Dec 23, 2025, 5:42 PM
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.
Dec 22, 2025, 1:00 PM
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.
Dec 17, 2025, 2:54 PM
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.
Nov 4, 2025, 1:04 PM
Quarterly earnings call transcripts for Greenfire Resources.
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