Transformational Recapitalization Plan
Greenfire announced a plan to fully repay all outstanding senior secured notes through a $300 million equity rights offering backed by Waterous Energy Fund, alongside a new $275 million revolving credit facility with Canadian banks, reducing the cost of capital by approximately half.
Strong Base Well Performance
The company expects to hit the top end of its 2025 production guidance range of 15,000 to 16,000 barrels per day, reaffirming their 2025 capital guidance target of $130 million.
Successful Boiler Restoration
Greenfire restored a failed boiler ahead of schedule and plans to proactively refurbish a second boiler, expecting full steam capacity by year-end 2025.
2026 Capital Budget and Production Goals
The Board approved a 2026 capital budget of $180 million, with anticipated bitumen production of 15,500 to 16,500 barrels per day.