Greenfire Resources Reports Second Quarter 2026 Results and Closes Acquisition of Connacher Oil and Gas Limited
Greenfire reported Q2 bitumen production of 13,607 bbls/d, down 11% at the Expansion Asset due to planned turnarounds, resulting in an adjusted free cash flow deficit of $34.7 million. The company closed the acquisition of Connacher Oil and Gas, financing the deal with a $1.0 billion reserves-based loan and a $575 million bridge facility to be repaid via a rights offering.
Key figures
- Guidance
- 2026 production 21,500 – 23,500 bbls/d; 2026 capital budget raised to $250 million
- Oil sales
- 179408000
- Net income
- 53462000
- Bridge facility
- 575000000
- Bitumen production
- 13607
- Adjusted funds flow
- 21900000
- Capital expenditures
- 56662000
- Synergies annual target
- 30000000
- Current production post acq
- 34000
- Reserves based loan facility
- 1000000000
AI analysis
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