Greenfire Resources Ltd.

Greenfire Resources Ltd. announced its third-quarter financial results, highlighted by the significant acquisition of Connacher Oil and Gas Limited for $1.297 billion on August 5, 2026. This acquisition substantially increased the company's assets to $2.785 billion by September 30, 2026. The company also successfully completed a $774.3 million rights offering and increased its Senior Credit Facility to $1.0 billion. Despite these strategic moves, Greenfire reported a net loss of $40.5 million for the nine months ended September 30, 2026, a reversal from the $56.1 million profit in the same period last year, though oil sales saw an increase to $632.0 million.

Greenfire Resources Ltd. announced a rights offering to raise C$775 million by issuing 125,428,529 Rights, allowing shareholders to subscribe for 114,985,163 Common Shares. The subscription price is C$6.74 or US$4.81 per share, representing a 15% discount to the Company's five-day volume weighted average price on the TSX as of July 10, 2026. The proceeds will be used to repay the Company's $575 million Bridge Facility and other indebtedness incurred in connection with a recent acquisition. Standby Purchasers, who collectively own approximately 72.0% of outstanding Common Shares, have committed to purchase any unsubscribed shares.

Greenfire Resources Ltd. announced a rights offering to raise at least C$575 million. Shareholders will receive transferable rights to subscribe for common shares at a price not exceeding C$6.74 per share, representing a 15% discount. The proceeds are intended to repay a $575 million Bridge Facility used for a recent acquisition. Standby Purchasers, who collectively own approximately 72.0% of outstanding shares, have committed to purchase any unsubscribed shares, ensuring the offering's completion. Non-participating shareholders will face significant equity dilution.

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.

Greenfire Resources Ltd. is launching a rights offering to raise a minimum of C$575 million. The funds will be used to repay a $575 million bridge facility, which was incurred to finance the C$1.29 billion acquisition of Connacher Oil and Gas Limited. Existing shareholders will receive transferable rights to subscribe for subscription receipts, with major shareholders providing a standby commitment to ensure full subscription. The subscription receipts, convertible into common shares, are expected to be listed on both the Toronto Stock Exchange and the New York Stock Exchange.

Greenfire Resources Ltd. announced a definitive agreement to acquire all outstanding Class A common shares of Connacher Oil and Gas Limited for $1.29 billion in cash. The acquisition is supported by Connacher shareholders holding approximately 73.6% of the shares. To finance the acquisition, Greenfire plans a rights offering for at least $575 million and has secured debt financing, including a $575 million bridge facility. The rights offering is backstopped by Waterous Energy Fund Shareholders, who hold 72.0% of Greenfire's common shares.

Greenfire Resources Ltd. announced a definitive agreement to acquire Connacher Oil and Gas Limited for approximately C$1.277 billion in cash consideration. The acquisition of the Great Divide oil sands project is expected to create C$30 million in annual synergies and increase Greenfire's 2026 production to 34,000 Bbl/d. The deal will be financed through C$700 million in debt and a C$575 million bridge facility, which will be repaid by a concurrent rights offering of at least C$575 million, backed by Waterous Energy Fund.

Greenfire Resources Ltd. announced an Amended and Restated Credit Agreement for CDN$275,000,000 credit facilities, effective December 19, 2025, with Bank of Montreal acting as Agent. This agreement involves several major financial institutions as co-lead arrangers and joint bookrunners. Additionally, the company reported the voting results from its Annual Meeting of Shareholders held on May 7, 2026, where all seven director nominees were elected and Deloitte LLP was appointed as auditors.

Greenfire Resources Ltd. reported a net loss of $73.0 million for the first quarter of 2026, a significant decline from the $16.2 million net income in the prior year, primarily driven by a $94.6 million loss on risk management contracts. Oil sales decreased by 19.8% to $147.3 million, and bitumen production fell to 14,719 bbls/d. Despite the financial downturn, the company provided positive updates on its drilling and development programs, including the acceleration of HE Pad 8 development and the extension of its Senior Credit Facility maturity date to May 2028.