Greenfire Resources Ltd. (GFR) has released an update.
Greenfire Resources Ltd. has reported substantial progress in its first quarter of 2024, with bitumen production rising to 19,667 barrels per day, marking an increase from the previous quarter, and achieving an Adjusted EBITDA of $39.3 million, reflecting strong performance from its drilling program and facility optimizations. The company has also maintained a healthy liquidity position, with $140.2 million available as of March 31, 2024. Despite current wildfires in Northern Alberta, operations have not been significantly impacted, allowing Greenfire to reaffirm its positive outlook for the remainder of 2024.
For further insights into GFR stock, check out TipRanks’ Stock Analysis page.
