Greenfire Resources Ltd. ( (GFR) ) has released its Q3 earnings. Here is a breakdown of the information Greenfire Resources Ltd. presented to its investors.
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Greenfire Resources Ltd., a Canadian oil sands producer, focuses on developing thermal oil assets in Alberta’s Athabasca region, leveraging its extensive resource base and infrastructure for capital-efficient production growth.
In its third-quarter 2025 earnings report, Greenfire Resources highlighted a bitumen production rate of 15,757 barrels per day, adjusted funds flow of $38.1 million, and capital expenditures totaling $17.9 million. The company also announced refinancing initiatives and provided guidance for 2026.
Key financial metrics from the quarter include an operating netback of $53.3 million and adjusted free cash flow of $20.2 million. Despite a decrease in production compared to the previous year, Greenfire maintained stable output from its Hangingstone Facilities. The company is addressing regulatory compliance issues and plans to enhance production capacity with new drilling operations and facility upgrades.
Looking ahead, Greenfire anticipates production to be at the higher end of its 2025 guidance range, with a capital budget of $130 million. For 2026, the company has approved a $180 million capital budget, expecting production between 15,500 and 16,500 barrels per day, driven by both sustaining and growth capital investments.
Greenfire’s management remains optimistic about the company’s future, focusing on operational excellence and strategic growth initiatives to enhance shareholder value while navigating market and regulatory challenges.