Latest news with #GreenfireResourcesLtd
Yahoo
14-05-2025
- Business
- Yahoo
Why Greenfire Resources (GFR) Is Losing This Week
We recently published a list of Energy Stocks that are Losing This Week. In this article, we are going to take a look at where Greenfire Resources Ltd. (NYSE:GFR) stands against other energy stocks that are declining this week. The energy sector was among the largest beneficiaries of the truce between the United States and China this week, resulting in the West Texas Intermediate (WTI) crude oil price rallying aggressively to cross the $63 mark, up from a multi-year low of $57.13 it hit last week. However, despite the gains, oil's upside potential remains limited due to an abundant supply following a decision by OPEC+ to further increase output in June. Moreover, prices still remain below the $65 break-even mark for most producers operating in the prolific Permian Basin in the US, forcing them to potentially stop drilling and cut jobs. Additionally, despite Beijing cutting its levies on American goods to 10% for a 90-day period, it is unlikely that the agreement will do much to increase its import of US energy. China's import of American energy commodities was effectively gone as soon as Beijing put an initial 10% tariff on crude oil and 15% on LNG and coal in early February, so these commodities will remain uncompetitive in the country even at the lower 10% tariff for the next 90 days. According to commodity analysts Kpler, no American crude oil is scheduled to arrive at Chinese ports this month, while only three cargoes were unloaded in April. The imports of American LNG have also suffered a similar fate, with Kpler showing no cargoes since February. A fleet of industrial vehicles cleaning a beach polluted by an oil spill. To collect data for this article, we have referred to several stock screeners to find energy stocks that have fallen the most between May 6 to May 13, 2025. The following are the Energy Stocks that Lost the Most This Week. The stocks are ranked according to their share price decline during this period. At Insider Monkey, we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (). Share Price Decline Between May 6 – May. 13: 5.53% Ranking at number 6 on our list of Energy Stocks that Lost the Most This Week is Greenfire Resources Ltd. (NYSE:GFR), an oil sands producer that is actively developing its long-life and low-decline thermal oil assets in the Athabasca region of Alberta, Canada. The share price of Greenfire Resources Ltd. (NYSE:GFR) continues to plunge after it missed forecasts in its Q1 2025 results posted last week. The company's EPS of $0.17 fell short of expectations by $0.06, while its revenue also fell by 8.6% YoY. Greenfire also highlighted a 10% drop from the previous quarter in bitumen production, which came in at 17,495 bbls/d. Overall, GFR ranks 6th on our list of the energy stocks that lost the most this week. While we acknowledge the potential of energy companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than GFR but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-05-2025
- Business
- Yahoo
Why Greenfire Resources (GFR) Is Falling This Week
We recently published a list of Energy Stocks that are Losing This Week. In this article, we are going to take a look at where Greenfire Resources Ltd. (NYSE:GFR) stands against other energy stocks that are declining this week. The energy sector suffered a massive blow this week after the West Texas Intermediate (WTI) crude price plunged even further to just over $57, a level it last hit in 2021 during the COVID-19 pandemic. The sharp decline comes as a result of OPEC+ announcing a larger-than-expected output increase for June. This follows a similar production boost announced for May, meaning that the group is now bringing more than 800,000 bpd of additional supply to the market over the course of two months. Instead of acting like a stabilizing force in global oil markets, Saudi Arabia has now adopted an aggressive strategy aimed at disciplining overproducing members like Kazakhstan and Iraq, and expanding its own market share. This could also be a part of the country's efforts to build good relations with Donald Trump, who has repeatedly called on Riyadh to increase production and bring prices down. Goldman Sachs has now cut its forecast for US crude prices this year by $3 to $56 per barrel. With oil currently hovering around the $58 mark, many US shale producers will struggle to break even, forcing them to potentially stop drilling and cut jobs. In fact, two big American shale producers revealed earlier this week that they are cutting capital expenditure in response to sliding oil prices, prompting industry warnings that US production had peaked and could begin to decline. A fleet of industrial vehicles cleaning a beach polluted by an oil spill. To collect data for this article, we have referred to several stock screeners to find energy stocks that have fallen the most between April 30 to May 7, 2025. The following are the Energy Stocks that Lost the Most This Week. The stocks are ranked according to their share price decline during this period. At Insider Monkey, we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (). Share Price Decline Between Apr. 30 – May. 7: 15.45% Greenfire Resources Ltd. (NYSE:GFR) is an oil sands producer actively developing its long-life and low-decline thermal oil assets in the Athabasca region of Alberta, Canada. Greenfire Resources Ltd. (NYSE:GFR) missed profit estimates in its Q1 2025 results reported this week, with its EPS of $0.17 falling below expectations by $0.06. The company also highlighted a decrease in bitumen production to 17,495 bbls/d, a 10% drop from the previous quarter. Greenfire has revealed challenges in its Expansion Asset, where production in the first quarter decreased by 21% compared to the previous quarter, primarily due to steam generation downtime and production declines following the 2024 Refill program. Overall, GFR ranks 3rd on our list of the energy stocks that lost the most this week. While we acknowledge the potential of energy companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than GFR but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
07-05-2025
- Business
- Associated Press
Greenfire Resources Reports Voting Results from 2025 Annual Meeting of Shareholders
PRESS RELEASE: Paid Content from Newsfile. The AP news staff was not involved in its creation. Greenfire Resources Reports Voting Results from 2025 Annual Meeting of Shareholders - Corporate Logo Published [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year] Calgary, Alberta--(Newsfile Corp. - May 6, 2025) - Greenfire Resources Ltd. (NYSE: GFR) (TSX: GFR) ('Greenfire' or the 'Company') is pleased to announce the voting results from its annual meeting of shareholders held May 6, 2025 in Calgary, Alberta (the 'Meeting'). Voting Results from the Meeting Each of the matters voted upon at the Meeting is discussed in detail in the Company's Management Information Circular dated April 3, 2025 (the 'Information Circular'), which is available on SEDAR+ at and on the Company's website at A total of 56,586,107 Common Shares representing approximately 80.93 percent of the Company's issued and outstanding Common Shares were voted in person and by proxy at the Meeting. All matters presented at the Meeting were approved including the election of all seven nominees listed in the Information Circular. The complete voting results for each matter presented at the Meeting are provided below. Election of Directors The following seven nominees were elected as directors of Greenfire to serve until the next annual meeting of the shareholders of the Company, or until their successors are elected or appointed: Nominee Votes For Votes Withheld Adam Waterous 91.67% 8.33% 50,222,050 4,562,402 Tom Ebbern 93.67% 6.33% 51,315,735 3,468,717 Henry Hager 92.55% 7.45% 50,701,472 4,082,980 Brian Heald 93.67% 6.33% 51,315,735 3,468,717 Andrew Kim 91.86% 8.14% 50,325,093 4,459,359 David Knight Legg 93.67% 6.33% 51,315,735 3,468,717 David Roosth 91.86% 8.14% 50,325,093 4,459,359 Following the Meeting, Mr. Heald has been appointed as Chair of the Audit Committee, and Mr. Knight-Legg has joined the Audit Committee. Appointment of Auditors Deloitte LLP, Chartered Professional Accountants, were appointed to serve as the auditors of the Company until the close of the next annual meeting of the shareholders of the Company, at remuneration to be fixed by the directors of the Company. About Greenfire Greenfire is an oil sands producer actively developing its long-life and low-decline thermal oil assets in the Athabasca region of Alberta, Canada, with its registered offices in Calgary, Alberta. The Company plans to leverage its large resource base and significant infrastructure in place to drive meaningful, capital-efficient production growth. Greenfire common shares are listed on the New York Stock Exchange and Toronto Stock Exchange under the trading symbol 'GFR'. For more information, visit . Contact Information Greenfire Resources Ltd. 205 5th Avenue SW Suite 1900 Calgary, AB T2P 2V7 To view the source version of this press release, please visit
Yahoo
04-04-2025
- Business
- Yahoo
Why Greenfire Resources Ltd. (GFR) is Gaining This Week?
We recently compiled a list of the Energy Stocks that are Gaining This Week. In this article, we are going to take a look at where Greenfire Resources Ltd. (NYSE:GFR) stands against the other energy stocks. After significantly trailing behind in 2024, the energy sector now finds itself outperforming the general market so far this year. Despite the sharp market decline on Thursday, April 3, the broader energy sector has gained over 1.3% since the beginning of 2025, against declines of more than 7% by the wider market. The energy industry has braced itself for a tidal wave of change with Donald Trump back in the Oval Office since the President has expressed a strong commitment to reviving fossil fuels, reversing climate policies, and assuring America's energy security. One sector that is already booming is that of natural gas. The benchmark US natural gas price at Henry Hub has surged by over 147% over the last year, thanks to slowing output in 2024, booming LNG exports, and fast-depleting inventories during the coldest winter in six years. Moreover, the ongoing AI boom and the accompanying data centers are also set to significantly increase the country's energy demand, for which natural gas is a leading contender. The Energy Information Administration (EIA) expects the US gas demand to reach record highs this year and next, forecasting the country's gas output to surge to 105.2 billion cubic feet per day (bcfd) in 2025, up from 103.2 bcfd last year and a record 103.6 bcfd in 2023. An oil rig worker in overalls, examining a drill bit at the San Juan Basin. To collect data for this article, we have referred to several stock screeners to find energy stocks that have surged the most between March 26 and April 2, 2025. Following are the Energy Stocks that Gained the Most This Week. The stocks are ranked according to their share price surge during this period. At Insider Monkey, we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Share Price Gains Between Mar. 26 – Apr. 2: 11.94% Greenfire Resources Ltd. (NYSE:GFR) is an oil sands producer actively developing its long-life and low-decline thermal oil assets in the Athabasca region of Alberta, Canada. Greenfire Resources Ltd. (NYSE:GFR) recently reported its FY 2024 results, posting a full-year EPS of $1.76 against an EPS of -$2.49 in 2023. The company also witnessed a substantial rise in its adjusted funds flow, which increased by almost 135% YoY to $171.85 million last year. GFR's production also surged by around 9.3% YoY in 2024, and its new management has increased its permitted capital expenditures in any 12-month period from $100 million to $150 million. It was also reported last week that Waterous Energy Fund, which owns a majority stake in Greenfire Resources Ltd. (NYSE:GFR), has closed its third private equity round at the stated target of $1 billion. Overall, GFR ranks 4th on our list of the energy stocks that gained the most this week. While we acknowledge the potential of energy companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than GFR but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
20-02-2025
- Business
- Yahoo
Greenfire Resources' Announces Expiration and Results of Change of Control Offer for Senior Secured Notes Due 2028
Calgary, Alberta--(Newsfile Corp. - February 20, 2025) - Greenfire Resources Ltd. (NYSE: GFR) (TSX: GFR) ('Greenfire' or the 'Company') today announced that the change of control offer made by Greenfire to purchase any and all of its outstanding 12.000% Senior Secured Notes Due 2028 (the 'Notes') expired at 5:00 pm, New York City Time, on February 19, 2025. Greenfire did not extend the offer. As of the expiration of the offer, a total of $5,000 in aggregate principal amount of the Notes had been validly tendered and not withdrawn. Greenfire has accepted all validly tendered Notes for purchase, and settlement of the tendered Notes will occur on February 24, 2025 or as soon as practicable thereafter. The Notes were originally issued by Greenfire pursuant to an indenture dated as of September 20, 2023 (the 'Indenture'). On December 23, 2024, Waterous Energy Fund acquired shares to increase its interest in Greenfire to 56.5% of the issued and outstanding common shares of Greenfire (the 'Acquisition'). Under the terms of the Indenture, Greenfire was required to make an offer to purchase the Notes at a price equal to 101% of the aggregate principal amount of the Notes repurchased, plus accrued and unpaid interest to, but not including, the date the Notes are purchased by Greenfire, following the 'Change of Control Offer' (as defined in the Indenture), which occurred on December 27, 2024 as a result of the Acquisition. The complete terms and conditions of the offer were set forth in the Notice of Change of Control and Offer to Purchase dated December 27, 2024 (the 'Offer to Purchase'), which were transmitted to holders of the Notes through the facilities of the Depository Trust Company. About Greenfire Greenfire is a junior oil sands producer actively developing its long-life and low-decline thermal oil assets in the Athabasca region of Alberta, Canada. The Company plans to leverage its large resource base and significant infrastructure in place to drive meaningful, capital-efficient production growth. Greenfire common shares are listed on the New York Stock Exchange and Toronto Stock Exchange under the symbol "GFR". For more information, visit or find Greenfire on LinkedIn and X. Contact Information Greenfire Resources Ltd.205 5th Avenue SWSuite 1900Calgary, AB T2P 2V7investors@ To view the source version of this press release, please visit
