Greenfire Resources Reports Q1 2025 Financial Results

Greenfire Resources Ltd. ( (GFR) ) has released its Q1 earnings. Here is a breakdown of the information Greenfire Resources Ltd. presented to its investors.

Greenfire Resources Ltd., a company specializing in oil sands production, operates in the Athabasca region of Alberta, Canada, focusing on long-life and low-decline thermal oil assets. The company is listed on both the New York Stock Exchange and Toronto Stock Exchange under the symbol GFR.

In its first quarter of 2025, Greenfire Resources reported bitumen production of 17,495 barrels per day, alongside cash provided by operating activities totaling $34.7 million. The company highlighted a decrease in production compared to previous quarters, primarily due to steam generation downtime at its Expansion Asset.

Key financial metrics for the quarter included adjusted funds flow of $31.4 million and capital expenditures of $26.3 million, resulting in an adjusted free cash flow of $5.1 million. The company also reported a net income of $16.2 million, a significant improvement from a loss in the same quarter last year. Greenfire continues to engage with regulatory bodies to address emissions issues and plans to install sulphur removal facilities by the end of the year.

Looking ahead, Greenfire is focused on optimizing production and exploring new development opportunities at its Hangingstone Facilities. The company aims to restore offline steam generation capacity by year-end and is evaluating new drilling projects to enhance production. Management remains committed to maximizing shareholder value through strategic investments and operational efficiency.