Greenfire Resources Ltd.
- Open
- 6.21
- Day high
- 6.28
- Day low
- 6.11
- Prev close
- 6.29
- Volume
- 1.6M
- Mkt cap
- $907M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.1
- P/S
- 2.1
- Yield
- —
- Per share
- —
Greenfire Resources Ltd. (GFR) is a Energy company listed on NYSE. The stock is up 18% over the past year. Drillr has 1 published research article covering GFR.
Greenfire Resources Ltd. (GFR) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
GFR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 5, 2026 | $0.01 | $0.31 | +3000.0% | $126M | +0.0% |
| May 5, 2026 | $0.06 | $-0.42 | -832.1% | $104M | +0.0% |
| Mar 13, 2026 | — | $-0.09 | — | $101M | — |
| Aug 7, 2025 | — | $0.51 | — | $106M | — |
| Mar 17, 2025 | — | $0.78 | — | $145M | — |
| Nov 14, 2024 | $0.40 | $0.60 | +50.0% | $143M | — |
| Aug 14, 2024 | $0.30 | $0.31 | +3.3% | $153M | — |
| May 15, 2024 | — | $-0.51 | — | $144M | — |
| Mar 20, 2024 | — | $-0.05 | — | $119M | — |
GFR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Mar 2, 2007 | BERDING JOHN Bofficer: Executive Vice President | Grant | 20,000 | $25.05 |
| Nov 27, 2006 | BERDING JOHN Bofficer: Executive Vice President | Option | 25,000 | $15.00 |
| Nov 27, 2006 | BERDING JOHN Bofficer: Executive Vice President | Tax | 15,890 | $23.60 |
| Nov 27, 2006 | BERDING JOHN Bofficer: Executive Vice President | Tax | 22,648 | $23.60 |
| Feb 28, 2006 | BERDING JOHN Bofficer: Executive Vice President | Grant | 1,667 | — |
| Feb 9, 2006 | BERDING JOHN Bofficer: Executive Vice President | Grant | 20,000 | $16.46 |
| Dec 28, 2005 | BERDING JOHN Bofficer: Executive Vice President | Option | 25,000 | $13.75 |
| Dec 28, 2005 | BERDING JOHN Bofficer: Executive Vice President | Tax | 16,408 | $20.95 |
| Dec 28, 2005 | BERDING JOHN Bofficer: Executive Vice President | Option | 22,070 | $13.25 |
| Dec 28, 2005 | BERDING JOHN Bofficer: Executive Vice President | Tax | 13,959 | $20.95 |
| Jul 5, 2005 | BERDING JOHN Bofficer: Executive Vice President | Option | 56,230 | $13.25 |
| Jul 5, 2005 | BERDING JOHN Bofficer: Executive Vice President | Tax | 36,811 | $20.24 |
| May 9, 2005 | BERDING JOHN Bofficer: Executive Vice President | Buy | 1,200 | $15.99 |
| May 2, 2005 | BERDING JOHN Bofficer: Executive Vice President | Buy | 2,600 | $15.42 |
| Feb 28, 2005 | LINDNER CARL Hdirector, officer: Chairman of the Board | Buy | 1,000 | $16.29 |
Source: GFR SEC Form 4 filings, latest Mar 2, 2007. For informational purposes only — not investment advice.
See the full GFR insider & 13F page →Greenfire Resources Ltd. company profile
Overview
Greenfire Resources Ltd. (TSX:GFR) is a Canadian oil and gas company founded in 2021 that specializes in developing oil sands assets in Alberta's Athabasca region. The company went public on December 13, 2021, and is headquartered in Calgary, Canada. Greenfire operates what it describes as "Tier-1 oil sands assets" in Western Canada, utilizing advanced thermal extraction technology to recover bitumen from oil sands deposits.
Business
Greenfire Resources operates in the oil sands sector of Canada's energy industry, specifically focusing on the extraction of bitumen from oil sands deposits in Alberta's Athabasca region. Oil sands are a mixture of sand, clay, water, and bitumen (a heavy, viscous form of petroleum). Unlike conventional oil drilling, oil sands require specialized extraction methods due to the thick, tar-like consistency of bitumen. The company's core technology is Steam-Assisted Gravity Drainage (SAGD), a thermal oil recovery process that involves injecting high-pressure steam into underground oil sands formations. This steam heats the bitumen, reducing its viscosity so it can flow to the surface where it's collected through horizontal wells. SAGD is considered one of the most efficient methods for extracting bitumen from deep oil sands deposits, though it requires significant energy input and water resources. Greenfire's operations are concentrated in what the industry calls "Tier-1" assets, which typically refer to high-quality oil sands properties with favorable geology, good reservoir characteristics, and strong economic potential. The company appears to operate as a single-segment business focused exclusively on oil sands production, with all revenue derived from bitumen extraction and processing operations in the Athabasca oil sands region.
Revenue model
Greenfire generates revenue primarily through the sale of bitumen and processed oil products extracted from its oil sands operations. The company's business model is based on commodity product sales, where revenue fluctuates based on both production volumes and prevailing oil prices. Customers typically include oil refineries, pipeline companies, and other energy sector participants who purchase the extracted bitumen for further processing into refined petroleum products. The company's profitability is heavily influenced by several key factors. Commodity price volatility represents the most significant external factor, as oil prices directly impact revenue while operational costs remain relatively fixed. Operating efficiency is crucial given the energy-intensive nature of SAGD operations - the company must carefully manage steam-to-oil ratios and minimize energy costs to maintain margins. Regulatory changes in environmental standards, carbon pricing, and extraction permits can significantly impact operational costs and capital requirements. Production costs are influenced by natural gas prices (used for steam generation), water availability and treatment costs, and equipment maintenance expenses. The company's margins can expand during periods of high oil prices and contract during commodity downturns. Additionally, infrastructure constraints such as pipeline capacity limitations can affect the company's ability to transport products to market, potentially impacting realized prices. Currency fluctuations also play a role, as oil is typically priced in US dollars while many operational costs are incurred in Canadian dollars.
Competitive moat
Greenfire's competitive moat appears relatively limited, which is typical for commodity-based oil sands producers. The company's primary defensive characteristics include its strategic asset location in the established Athabasca oil sands region, which benefits from existing infrastructure and regulatory familiarity. The company's SAGD operations represent proven technology with established reserves, providing some operational predictability. However, the oil sands industry faces significant competitive pressures and lacks strong moats. Commodity price dependency means the company has limited pricing power and must compete primarily on cost efficiency. The capital-intensive nature of oil sands operations creates high barriers to entry but also results in high fixed costs and operational leverage. Environmental and regulatory risks pose ongoing challenges, as oil sands operations face increasing scrutiny regarding carbon emissions and environmental impact. Competition comes from other oil sands producers, conventional oil producers with lower extraction costs, and increasingly from renewable energy alternatives. The company's relatively small scale compared to major integrated oil companies like Suncor or Canadian Natural Resources limits its ability to achieve significant economies of scale. Technological disruption in energy markets and potential shifts in energy policy could pose long-term threats to the business model. The company's moat is primarily operational efficiency and asset quality rather than any sustainable competitive advantage.
Risks & safety
Greenfire's margin of safety appears moderate with some concerning liquidity metrics but reasonable debt levels. • Liquidity concerns: Current ratio of 0.43 in Q4 2024 indicates potential short-term liquidity pressure, though cash position of $47 million provides some buffer • Debt management: Debt-to-equity ratio of 0.41 is manageable for the capital-intensive oil sands sector • Cash generation: Positive free cash flow of $40 million in 2024, though volatile quarter-to-quarter • Valuation metrics: Trading at reasonable multiples with P/E of 6.0x and EV/EBITDA of 4.7x based on 2024 results • Commodity exposure: Earnings highly sensitive to oil price fluctuations, creating inherent volatility risk • Capital requirements: Oil sands operations require ongoing capital investment for maintenance and optimization
Recent development
Based on the available financial data, Greenfire has demonstrated significant operational improvements since its 2021 IPO. The company experienced a challenging 2023 with a net loss of $100 million, but rebounded strongly in 2024 with net income of $85 million and revenue of $552 million. This turnaround suggests successful operational optimization and benefits from improved commodity pricing. The company's production efficiency appears to have improved significantly, with EBITDA margins expanding from negative territory in 2023 to healthy levels in 2024. Cash flow generation has been a key focus, with the company generating positive free cash flow in both 2023 and 2024 despite the challenging operating environment. The company's current ratio deterioration from 1.26 in 2023 to 0.43 in 2024 suggests either increased capital deployment or working capital management changes. Operational optimization appears to be a central theme, with the company likely focusing on improving steam-to-oil ratios, reducing operating costs, and maximizing production efficiency from existing assets. The volatile quarterly performance suggests the company is still optimizing its operations and may be subject to seasonal factors or maintenance cycles typical in oil sands operations.
GFR company profile · for informational purposes only — not investment advice.
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