GFR Greenfire Resources Ltd.

Greenfire Resources has logged a 22.0% gain year to date, which naturally prompts the question of whether that share price now lines up with what the business is actually generating in sales. For anyone watching the recent moves, the key issue is how much revenue power is being implied by today's valuation. With the stock up 22.0% year to date, investors now have more of their thesis riding on how effectively Greenfire Resources can convert its top line into long term value. The company’s...

Greenfire Resources (NYSE:GFR) just closed a rights offering that raised about CA$775 million, expanding its share count as it works to pay down bridge financing from the Connacher Oil and Gas acquisition. Recent trading has been choppy for Greenfire Resources, with a 7-day share price return of down 7.21% and a 30-day share price return of down 0.64%, even though the 90-day share price return is 9.38% and the year to date share price return is 28.48% against a latest close of $6.18. The...

Connacher is a privately owned thermal oil sands producer focused on bitumen and owns the Great Divide project.

(Updates with details on the acquisition and share movement. ) Greenfire Resources (GFR.TO, GFR)

Greenfire Resources Ltd. (NYSE:GFR, TSX:GFR) plans to raise at least C$575 million through a rights offering to help fund its proposed acquisition of Connacher Oil and Gas Limited, with majority shareholder Waterous Energy Fund backstopping the entire amount. The Calgary-based thermal oil...