Greenfire Resources Ltd. ( (GFR) ) has released its Q2 earnings. Here is a breakdown of the information Greenfire Resources Ltd. presented to its investors.
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Greenfire Resources Ltd. is an oil sands producer based in Calgary, Alberta, focusing on developing long-life and low-decline thermal oil assets in the Athabasca region. The company is listed on both the New York Stock Exchange and the Toronto Stock Exchange under the symbol ‘GFR’.
In its second quarter of 2025, Greenfire Resources reported a bitumen production of 15,748 barrels per day, alongside a cash flow from operations of $17.7 million and an adjusted free cash flow of $23.0 million. The company also noted a decrease in capital expenditures compared to the previous year.
Key financial metrics for the quarter included a net income of $48.7 million and an operating netback of $49.9 million. The company faced a production decrease due to a steam generator failure at its Expansion Asset but saw improvements at its Demo Asset. Greenfire is actively working on restoring full steam capacity and installing sulphur removal facilities to meet regulatory compliance.
Looking ahead, Greenfire Resources has set a 2025 capital budget of $130 million, focusing on sustaining and growth initiatives, including the development of a new SAGD well pad. The company aims to maintain an annual production range of 15,000 to 16,000 barrels per day while exploring additional hedging opportunities.
Greenfire’s management remains committed to operational excellence and is optimistic about leveraging its resource base and infrastructure to drive future production growth, despite current operational challenges.