About GFR

Founded: n/a
Employees: 197
CEO: Colin Germaniuk
WebsiteView website: www.greenfireres.com

Greenfire Resources Ltd., together with its subsidiaries, engages in the exploration, development, and operation of oil and gas properties in the Athabasca oil sands region of Alberta, Canada. The company’s principal asset includes the Hangingstone Facilities which consist of the Expansion Asset and the Demo Asset located in south of Fort McMurray, Alberta. Greenfire Resources Ltd. is headquartered in Calgary, Canada.

Recent GFR News & Updates

Announcement • 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.

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About GFR

Recent GFR News & Updates

Greenfire Resources Ltd. (NYSE:GFR) completed the acquisition of Connacher Oil and Gas Limited.

Second quarter 2026 earnings released: EPS: CA$0.43 (vs CA$0.69 in 2Q 2025)

Greenfire Resources: Connacher Changes The Scale Of The Bull Thesis

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