Aankondiging • Aug 06
Greenfire Resources Ltd. (NYSE:GFR) completed the acquisition of Connacher Oil and Gas Limited. Greenfire Resources Ltd. (NYSE:GFR) entered into a definitive agreement to acquire Connacher Oil and Gas Limited for CAD 1.29 billion on July 13, 2026. The purchase price payable by Greenfire under the acquisition agreement in respect of the acquisition, which will be filed on SEDAR+, is CAD 1.29 billion, subject to customary closing adjustments. Based on information provided by Connacher, Greenfire expects closing adjustments of approximately CAD 13 million, equating to an approximate CAD 1.277 billion cash purchase price. The acquisition is expected to be financed with a mix of debt and equity, comprised of: (i) an approximately CAD 700 million draw on an underwritten CAD 1.0 billion reserves-based loan (upsized from CAD 275 million currently), and (ii) a CAD 575 million underwritten bridge facility (“Bridge Facility”), which, post-closing of the acquisition, will be repaid with proceeds from an anticipated rights offering of Greenfire common shares. Waterous Energy Fund has committed to provide a standby commitment of at least CAD 575 million for the rights offering. A termination fee of CAD 120 million is payable by Greenfire to Connacher, and a reciprocal fee of CAD 120 million is payable by Connacher to Greenfire, under certain circumstances.
The transaction is subject to certain closing conditions, including but not limited the receipt of approval under the Competition Act (Canada). The deal has been unanimously approved by the Board of Connacher. The expected completion of the transaction is on or about August 12, 2026.
National Bank of Canada Financial Markets and BMO Capital Markets acted as financial advisor for Greenfire Resources Ltd. Kevin Kerr and Olga Kary of Blake, Cassels & Graydon LLP and Scale LLP acted as legal advisor for Greenfire Resources Ltd. Tudor, Pickering, Holt & Co. Securities Canada, ULC acted as financial advisor and Justin Ferrara of Norton Rose Fulbright Canada LLP acted as legal advisor for Connacher Oil and Gas Limited.
Greenfire Resources Ltd. (NYSE:GFR) completed the acquisition of Connacher Oil and Gas Limited on August 5, 2026. Reported Earnings • Aug 05
Second quarter 2026 earnings released: EPS: CA$0.43 (vs CA$0.69 in 2Q 2025) Second quarter 2026 results: EPS: CA$0.43. Revenue: CA$194.7m (up 39% from 2Q 2025). Net income: CA$53.5m (up 9.7% from 2Q 2025). Profit margin: 28% (down from 35% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 39% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Oil and Gas industry in Germany. Aankondiging • Jul 28
Greenfire Resources Ltd. has filed a Follow-on Equity Offering. Greenfire Resources Ltd. has filed a Follow-on Equity Offering.
Security Name: Subscription Receipts
Security Type: Common Stock
Transaction Features: Rights Offering Aankondiging • Jul 15
Greenfire Resources Ltd. has filed a Follow-on Equity Offering in the amount of CAD 575 million. Greenfire Resources Ltd. has filed a Follow-on Equity Offering in the amount of CAD 575 million.
Security Name: Common Shares
Security Type: Common Stock
Transaction Features: Rights Offering Aankondiging • Jul 14
Greenfire Resources Ltd. (NYSE:GFR) entered into a definitive agreement to acquire Connacher Oil and Gas Limited for CAD 1.29 billion. Greenfire Resources Ltd. (NYSE:GFR) entered into a definitive agreement to acquire Connacher Oil and Gas Limited for CAD 1.29 billion on July 13, 2026. The purchase price payable by Greenfire under the acquisition agreement in respect of the Acquisition, which will be filed on SEDAR+, is CAD 1.29 billion, subject to customary closing adjustments. Based on information provided by Connacher, Greenfire expects closing adjustments of approximately CAD 13 million, equating to an approximate CAD 1.277 billion cash purchase price. The acquisition is expected to be financed with a mix of debt and equity, comprised of: (i) an approximately CAD 700 million draw on an underwritten CAD 1.0 billion reserves-based loan (upsized from CAD 275 million currently), and (ii) a CAD 575 million underwritten bridge facility (“Bridge Facility”), which, post-closing of the Acquisition, will be repaid with proceeds from an anticipated rights offering of Greenfire common shares. Waterous Energy Fund has committed to provide a standby commitment of at least CAD 575 million for the rights offering.
Subject to customary closing conditions and receipt of customary required approvals, the transaction is expected to close in August 2026.
National Bank of Canada Financial Markets and BMO Capital Markets acted as financial advisor for Greenfire Resources Ltd. Blake, Cassels & Graydon LLP and Scale LLP acted as legal advisor for Greenfire Resources Ltd. Tudor, Pickering, Holt & Co. Securities Canada, ULC acted as financial advisor and Norton Rose Fulbright Canada LLP acted as legal advisor for Connacher Oil and Gas Limited. Aankondiging • May 27
Greenfire Resources Ltd. to Report Q2, 2026 Results on Aug 06, 2026 Greenfire Resources Ltd. announced that they will report Q2, 2026 results on Aug 06, 2026 Board Change • May 21
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director David Legg is the most experienced director on the board, commencing their role in 2024. Independent Director Brian Heald was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Aankondiging • Apr 16
Greenfire Resources Ltd. to Report Q1, 2026 Results on May 05, 2026 Greenfire Resources Ltd. announced that they will report Q1, 2026 results on May 05, 2026 Aankondiging • Mar 16
Greenfire Resources Ltd., Annual General Meeting, May 07, 2026 Greenfire Resources Ltd., Annual General Meeting, May 07, 2026. Aankondiging • Jan 22
Greenfire Resources Ltd. to Report Q4, 2025 Results on Mar 12, 2026 Greenfire Resources Ltd. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Mar 12, 2026 Aankondiging • Dec 17
Greenfire Resources Ltd. has completed a Follow-on Equity Offering in the amount of CAD 299.999996 million. Greenfire Resources Ltd. has completed a Follow-on Equity Offering in the amount of CAD 299.999996 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 55,147,058
Price\Range: CAD 5.44
Discount Per Security: CAD 0.816
Transaction Features: Rights Offering Aankondiging • Nov 04
Greenfire Resources Ltd. has filed a Follow-on Equity Offering in the amount of CAD 300 million. Greenfire Resources Ltd. has filed a Follow-on Equity Offering in the amount of CAD 300 million.
Security Name: Common Shares
Security Type: Common Stock
Transaction Features: Rights Offering Aankondiging • Oct 16
Greenfire Resources Ltd. to Report Q3, 2025 Results on Nov 03, 2025 Greenfire Resources Ltd. announced that they will report Q3, 2025 results on Nov 03, 2025 Aankondiging • Jul 18
Greenfire Resources Ltd. to Report Q2, 2025 Results on Aug 06, 2025 Greenfire Resources Ltd. announced that they will report Q2, 2025 results on Aug 06, 2025 Aankondiging • Apr 15
Greenfire Resources Ltd. to Report Q1, 2025 Results on May 06, 2025 Greenfire Resources Ltd. announced that they will report Q1, 2025 results on May 06, 2025 Aankondiging • Feb 12
Greenfire Resources Ltd. to Report Q4, 2024 Results on Mar 17, 2025 Greenfire Resources Ltd. announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Mar 17, 2025 Aankondiging • Dec 25
Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund Iii (Us) Lp, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP, Waterous Energy Fund Iii (International Fi) Lp, funds managed by Waterous Energy Fund Management Corp. acquired 13.4% stake in Greenfire Resources Ltd. (NYSE:GFR) from M3-Brigade Sponsor III LP and Brigade Capital Management, LP for $73 million. Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund Iii (Us) Lp, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP, Waterous Energy Fund Iii (International Fi) Lp, funds managed by Waterous Energy Fund Management Corp. acquired 13.4% stake in Greenfire Resources Ltd. (NYSE:GFR) from M3-Brigade Sponsor III LP and Brigade Capital Management, LP for $73 million on December 23, 2024. Brigade will no longer be entitled to a nominee on the Board as a result of the sale by Brigade of all its Greenfire Securities to WEF. Waterous Energy Fund Management Corp. has purchased an aggregate of 9,311,424 common shares.
Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund Iii (Us) Lp, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP, Waterous Energy Fund Iii (International Fi) Lp, funds managed by Waterous Energy Fund Management Corp. completed the acquisition of 13.4% stake in Greenfire Resources Ltd. (NYSE:GFR) from M3-Brigade Sponsor III LP and Brigade Capital Management, LP on December 23, 2024. Aankondiging • Dec 10
Greenfire Resources Ltd., Annual General Meeting, May 06, 2025 Greenfire Resources Ltd., Annual General Meeting, May 06, 2025. Location: calgary, alberta Canada Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: CA$0.85 (vs CA$2.72 loss in 3Q 2023) Third quarter 2024 results: EPS: CA$0.85 (up from CA$2.72 loss in 3Q 2023). Revenue: CA$214.9m (up 40% from 3Q 2023). Net income: CA$58.9m (up CA$197.6m from 3Q 2023). Profit margin: 27% (up from net loss in 3Q 2023). The move to profitability was primarily driven by lower expenses. Aankondiging • Nov 16
Greenfire Resources Ltd. Provides Production Guidance for the Year 2024 Greenfire Resources Ltd. provided production guidance for the year 2024. For the year, The company anticipates the annual production for 2024 will average approximately 19,500 barrels per day, slightly below guidance range of 20,000 to 21,000 barrels per day for the year. Aankondiging • Nov 13
Waterous Energy Fund Iii (Us) Lp, Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP and Waterous Energy Fund Iii (International Fi) Lp, funds managed by Waterous Energy Fund Management Corp., completed the acquisition of approximately 43.3% stake in Greenfire Resources Ltd. (NYSE:GFR) from Allard Services Limited, Modro Holdings Llc and Annapurna Investments. Waterous Energy Fund Iii (Us) Lp, Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP and Waterous Energy Fund Iii (International Fi) Lp, funds managed by Waterous Energy Fund Management Corp., agreed to acquire approximately 43.3% stake in Greenfire Resources Ltd. (NYSE:GFR) from Allard Services Limited, Modro Holdings Llc and Annapurna Investments for approximately CAD 330 million on September 16, 2024. A cash consideration valued at CAD 10.93 per share will be paid by the buyers. In connection with completion of the Transaction, each of Julian McIntyre and Venkat Siva have agreed to resign from the board of directors of Greenfire. Completion of the Transaction is subject to customary closing conditions and receipt of certain regulatory approvals.
Waterous Energy Fund Iii (Us) Lp, Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP and Waterous Energy Fund Iii (International Fi) Lp, funds managed by Waterous Energy Fund Management Corp., completed the acquisition of approximately 43.3% stake in Greenfire Resources Ltd. (NYSE:GFR) from Allard Services Limited, Modro Holdings Llc and Annapurna Investments on November 11, 2024. A cash consideration valued at CAD 8.05 per share will be paid by the buyers. The closing of the Transaction follows the decision by the Alberta Securities Commission issued on November 6, 2024 granting WEF's application to cease trade Greenfire's initial shareholder rights plan, and dismissing Greenfire's cross-application to cease trade the Transaction. Aankondiging • Nov 04
Greenfire Resources Ltd. to Report Q3, 2024 Results on Nov 14, 2024 Greenfire Resources Ltd. announced that they will report Q3, 2024 results After-Market on Nov 14, 2024 Aankondiging • Sep 19
Greenfire Resources Ltd. Announces Board Changes Greenfire Resources Ltd. (Greenfire or the company) acknowledges the announcement on September 16, 2024 by Waterous Energy Fund Management Corp. (WEF Manager) in its capacity as manager of certain limited partnerships (collectively, WEF), that it has entered into agreements with certain Greenfire shareholders (the Selling Shareholders) to acquire 43.3% of the issued and outstanding common shares (the Common Shares) of the Company (the Proposed Acquisition). The Selling Shareholders include, among others, Allard Services Limited and Annapurna Limited. As referenced in the announcement by WEF, the Proposed Acquisition is intended to be an exempt take-over bid pursuant to the private agreement exemption (the Exemption) as set out in section 4.2 of National Instrument 62-104 - Takeover Bids and Issuer Bids (NI 62-104). The board of directors of Greenfire is currently reviewing the details of the Proposed Acquisition and exercising its fiduciary duties to evaluate the company's options, with support from its financial and legal advisors. Prior to the announcement of the Proposed Acquisitions, Julian McIntyre served as Chair of the Board. Given Mr. McIntyre's involvement in the Proposed Acquisition, the Board has appointed Matthew Perkal to serve as Interim Chair of the Board. In addition, the Board has determined it appropriate to appoint a special committee of independent directors (the Special Committee) to oversee the ongoing strategic alternatives process and to consider the Company's options to protect the interests of the other shareholders of the Corporation and to ensure such shareholders are treated fairly in light of the Proposed Acquisition and any future transaction that may be proposed by WEF or any other interested party. The Special Committee is comprised of independent directors of the company and is chaired by Mr. Perkal. As announced by WEF, both Mr. McIntyre and Mr. Siva have agreed with WEF to resign from the Board upon completion of the Proposed Acquisition. Board Change • Sep 13
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. President, CEO & Director Robert Logan is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 
