Greenfire Resources Ltd. ( (GFR) ) has released its Q4 earnings. Here is a breakdown of the information Greenfire Resources Ltd. presented to its investors.
Greenfire Resources Ltd. is a Canadian oil sands producer focused on developing thermal oil assets in Alberta’s Athabasca region, leveraging its extensive resource base and infrastructure for growth. The company reported significant growth in its 2024 reserves, with a 28% increase in proved reserves and a 72% increase in proved plus probable reserves, alongside a 58-year reserve life index. Key financial highlights include a full-year bitumen production of 19,292 barrels per day, cash flow from operations of $144.5 million, and adjusted free cash flow of $80.1 million. In the fourth quarter, production averaged 19,384 barrels per day, with adjusted free cash flow reaching $39.8 million, supported by favorable WCS differentials and reduced operating costs. Looking ahead, Greenfire is addressing production challenges at its Expansion Asset and is reviewing its development plans to optimize operations and manage emissions, while also enhancing its hedging strategy to secure price stability.