Welcome to our dedicated page for Greenfire Resources Ltd. SEC filings (Ticker: GFR), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Greenfire Resources Ltd. filings document the company's reporting as a Canadian foreign private issuer with common shares listed on the NYSE and TSX. Form 6-K reports include interim consolidated financial statements, MD&A, operating updates, reserve disclosures and news releases for its Hangingstone oil sands assets in Alberta.
The filing record also covers capital-structure and governance matters, including amended credit agreements, material change reports, rights offering and refinancing disclosures, annual meeting circulars, proxy materials, director elections, auditor appointments, executive compensation and corporate governance practices.
Greenfire Resources Ltd. completed the acquisition of all Class A common shares of Connacher Oil and Gas Limited on August 5, 2026 for $1.297 billion in cash. Connacher is an in situ oil sands producer whose Pod One and Algar projects sit adjacent to Greenfire’s Hangingstone facilities, sharing pipeline networks and the McMurray reservoir, which supports strong operational integration.
The purchase was funded through new and amended bank financing: a $575 million equity bridge credit facility and expanded revolving credit facilities totaling $1.0 billion. Greenfire has also launched a rights offering for approximately $775 million, with the first $575 million of net proceeds required to repay the bridge loan and any remaining proceeds expected to reduce revolving debt. Credit facility proceeds also retired Connacher’s existing secured debt and covered transaction costs.
Management does not currently expect material changes in either business that would significantly affect Greenfire’s financial performance. The 2026 capital budget was increased from $210 million to $250 million. Combined current production is about 34,000 Bbl/d, with full‑year 2026 production expected to average 21,500–23,500 Bbl/d. Connacher’s 2025 results showed revenue net of royalties of $683.1 million and net earnings of $48.9 million, while unaudited Q1 2026 results reflected a net loss of $34.9 million, driven largely by a $50.1 million loss on risk management contracts.
Greenfire Resources Ltd. is conducting a transferable rights offering of 125,428,529 Rights to subscribe for up to 114,985,163 Common Shares at a Subscription Price of C$6.74 or US$4.81 per share, for gross proceeds of approximately C$775,000,000. Each shareholder in the eligible Canadian provinces and the United States will receive one Right per share held on August 17, 2026, and may acquire one Common Share for every 1.0908 Rights exercised on or before 4:00 p.m. (Calgary time) on September 15, 2026. Holders who fully exercise their basic Rights may also subscribe for additional shares under an Additional Subscription Privilege. A standby commitment from funds managed by Waterous Energy Fund ensures all offered shares are purchased; these Standby Purchasers currently own about 72.0% of the company and could own about 85.4% if no other shareholders participate. The company plans to use the proceeds primarily to repay a $575 million Bridge Facility and reduce other debt incurred to fund the $1.297 billion acquisition of Connacher Oil and Gas Limited, which adds the Great Divide oil sands project to Greenfire’s existing Hangingstone operations.
Greenfire Resources Ltd. is conducting a transferable rights offering to existing common shareholders in Canada and the United States, targeting at least C$575 million in gross proceeds. Shareholders receive one Right per share, with every set number of Rights allowing purchase of one new common share at a subscription price not exceeding C$6.74, a 15% discount to the five-day VWAP before announcing the Connacher acquisition.
The offering is fully backstopped by funds managed by Waterous Energy Fund, which already own about 72% of Greenfire’s shares, under a Standby Commitment to purchase any unsubscribed shares. Proceeds will be used to repay Greenfire’s $575 million Bridge Facility drawn to finance the $1.297 billion cash acquisition of Connacher Oil and Gas. The combined company targets 2026 production of roughly 34,000 Bbl/d and holds substantial proved plus probable reserves.
Greenfire Resources delivered stronger Q2 2026 earnings but a weak first half. Q2 oil sales rose to $179.4 million and net income to $53.5 million, even as bitumen production fell to 13,607 bbl/d. Higher WCS-linked pricing and sharply lower interest and operating costs offset lower volumes, higher diluent and royalty costs, and realized losses on risk management contracts. For the six months, Greenfire recorded a net loss of $19.5 million as large hedge losses and a step-up in capital expenditures to $106.3 million outweighed operating improvements.
Liquidity tightened, with working capital moving to a $5.0 million deficit and $26.5 million drawn on a $275.0 million Senior Credit Facility at June 30. On August 5, Greenfire closed the $1.297 billion cash acquisition of Connacher Oil and Gas, funded by an upsized $1.0 billion reserve-based facility and a $575.0 million bridge loan to be repaid through a rights offering of common shares backstopped by Waterous Energy Fund. 2026 guidance was raised to 21,500–23,500 bbl/d and capital expenditures to $250.0 million, with current production around 34,000 bbl/d and a stated goal of $30.0 million in annual synergies at Great Divide by year-end 2026.
Greenfire Resources Ltd. is conducting a rights offering of subscription receipts to raise at least C$575 million. Shareholders in eligible jurisdictions receive one transferable Right per common share; a set number of Rights will purchase one Subscription Receipt at a Subscription Price not exceeding C$6.74 per Common Share, representing a 15% discount to the five-day TSX VWAP before the Connacher acquisition announcement.
Each Subscription Receipt will convert into one common share if escrow release conditions tied to completing the $1.29 billion cash acquisition of Connacher Oil and Gas Limited are met; otherwise, investors receive back their subscription funds plus earned interest. Proceeds are intended to repay Greenfire’s $575 million Bridge Facility incurred for the acquisition. A group of existing major shareholders (the Standby Purchasers), currently owning about 72% of Greenfire’s shares, has agreed to purchase any unsubscribed Subscription Receipts, ensuring the full equity raise but increasing potential dilution for non-participating shareholders.
Post‑acquisition, Greenfire expects pro forma 2026 production of about 34,000 Bbl/d, proved developed producing reserves of 68 MMBbl, and proved plus probable reserves of 850 MMBbl, with a 2P reserves life index of 68 years. Management targets approximately $30 million of annual operating and cost synergies by the end of 2026 and estimates combined tax pools of $2.8 billion, including $2.0 billion in fully deductible pools, supporting an expectation of no cash taxes until after 2030 at current strip pricing.
Greenfire Resources Ltd. plans to acquire all Class A common shares of Connacher Oil and Gas Limited for $1.29 billion in cash, subject to closing adjustments based on Connacher Net Surplus. An offer was sent to Connacher shareholders on July 14, 2026 and is expected to remain open until August 4, 2026, unless extended.
Shareholders holding about 73.6% of Connacher shares have signed support agreements to tender and to use drag-along rights so remaining shares can be acquired, with closing targeted on or about August 12, 2026, subject to conditions including Competition Act (Canada) approval and repayment of Connacher debt.
To fund the transaction, Greenfire obtained commitments for up to $725 million in incremental revolving credit facilities and a $575 million bridge facility, and announced an intended rights offering for at least $575 million, with net proceeds expected to repay the bridge. Waterous Energy Fund–related shareholders, who hold about 72.0% of Greenfire’s common shares, have agreed to a standby commitment to purchase any unsubscribed securities under the rights offering. All dollar amounts are Canadian dollars.
Greenfire Resources Ltd. plans a transformative acquisition and financing package. The company has signed a definitive agreement to acquire all shares of private thermal oil sands producer Connacher Oil and Gas Limited for approximately $1.277 billion in cash, based on an estimated $1.29 billion purchase price adjusted by about $13 million at closing. Connacher’s 100%-owned Great Divide project is expected to produce about 19,500 Bbl/d in 2026 with 2P reserves of 441 MMBbl.
Pro forma, Greenfire targets 2026 production of roughly 34,000 Bbl/d and 2P reserves of 850 MMBbl, implying a reserves life index of about 68 years, and a long-term plan to grow capacity to about 65,000 Bbl/d. Greenfire has identified approximately $30 million in expected annual synergies by the end of 2026.
The acquisition is expected to be funded by drawing about $700 million on an upsized $1.0 billion reserves-based loan and a $575 million bridge facility, which is intended to be repaid via a rights offering of at least $575 million of common shares. Waterous Energy Fund has agreed to a standby commitment of at least $575 million for the rights issue. On completion of the rights offering and bridge repayment, leverage is expected at approximately 1.7x Debt / 2027E EBITDA at US$70 WTI.
Greenfire Resources Ltd. filed a Form 6-K that includes an amended and restated credit agreement for CDN.$275,000,000 credit facilities and an AGM voting results news release. The agreement, made as of December 19, 2025, sets out a syndicated facility and a separate operating facility.
The operating facility has a maximum principal amount of Cdn.$30,000,000 and an Operating Facility Maturity Date of November 30, 2027. Bank of Montreal acts as agent for a syndicate of lenders and as Operating Lender, with several major banks named as co-lead arrangers and joint bookrunners.
The agreement details how loans, letters of credit, interest calculations, borrowing base determinations, security over assets, environmental and abandonment obligations, covenants, events of default, and benchmark replacement mechanics will be handled. It also defines numerous technical terms governing hedging, junior debt, and permitted encumbrances.
Greenfire Resources Ltd. reported a sharp swing to a Q1 2026 net loss of $73.0 million versus income of $16.2 million a year earlier, mainly due to a non‑cash loss of $94.6 million on risk management contracts.
Bitumen production averaged 14,719 bbl/d, down 16%, with oil sales of $147.3 million, down 20%. Operating netback fell to $23.42/bbl and adjusted EBITDA dropped to $25.6 million from $41.3 million. Capital expenditures rose to $49.6 million, driving an adjusted free cash flow deficit of $25.1 million.
Cash from operating activities was $1.4 million, ending cash was $0.5 million, and net surplus (debt) was $21.7 million with available funding of $296.7 million, including an undrawn Senior Credit Facility of $270.9 million. The 2026 capital budget was increased to $210 million while maintaining production guidance of 13,500–15,500 bbl/d, supporting Pad 7 and accelerated Pad 8 development.