AcquisitionsAug 5, 2026, 10:08 AM
Greenfire Acquires Connacher for $1.297B; Upsizes Credit Facility
AI Summary
Greenfire Resources Ltd. announced the completion of its acquisition of Connacher Oil and Gas Limited for $1.297 billion. The acquisition was financed by upsizing its Senior Credit Facility to $1.0 billion and securing a $575.0 million bridge facility, with a planned rights offering backed by a $575.0 million standby commitment from Waterous Energy Fund. For Q2 2026, the company reported a net income of $53.46 million on oil sales of $179.41 million, while the six-month period ended June 30, 2026, saw a net loss of $19.54 million and a decrease in cash from operating activities.
Key Highlights
- Acquired Connacher Oil and Gas Limited for $1.297 billion.
- Upsized Senior Credit Facility from $275.0 million to $1.0 billion.
- Secured a $575.0 million bridge facility to finance the acquisition.
- Waterous Energy Fund committed a $575.0 million standby for the rights offering.
- Q2 2026 Net Income was $53.46 million, up from $48.73 million in Q2 2025.
- Q2 2026 Oil Sales increased to $179.41 million from $144.54 million in Q2 2025.
- Six-month 2026 Net Loss was $19.54 million, compared to $64.89 million net income in 2025.
- Six-month 2026 Cash from Operations was $36.94 million, down from $52.41 million in 2025.
Price Impact
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