Greenfire Reports 2025 Results & 2026 Outlook

Greenfire Resources Ltd. reported its year-end 2025 reserves and Q4 and full-year 2025 financial and operational results. The company reported Proved (“1P”) and Proved Plus Probable (“2P”) reserves of 231.8 MMbbl and 408.9 MMbbl, respectively, a 1% year-over-year increase. Full-year 2025 bitumen production averaged 16,169 bbls/d, with adjusted funds flow of $143.5 million and adjusted free cash flow of $31.7 million. Q4 2025 saw bitumen production of 15,699 bbls/d, adjusted funds flow of $40.2 million, and an adjusted free cash flow deficit of $16.6 million. The company completed the installation of sulphur removal facilities, restoring compliance with emissions regulations. Greenfire lowered its 2026 production guidance to 13,500–15,500 bbls/d due to unplanned downtime at the Expansion Asset. Drilling operations commenced at Pad 7, with first oil anticipated in Q4 2026. The company also announced management changes, including the appointment of Derek Meisner as Vice President, Operations. Greenfire completed its refinancing initiatives, including a rights offering and redemption of its 2028 notes, resulting in the company being debt-free with an undrawn $275 million senior revolving credit facility.