Greenfire Resources Ltd. (GFR) has released an update.
Greenfire Resources Ltd. has reported robust Q4 2023 performance and promising early 2024 results, driven by its successful Refill drilling program and facility optimizations, leading to a solid bitumen production rate. The company, which recently listed on the Toronto Stock Exchange, emphasized its strategic initiatives for growth and debt repayment, coinciding with the anticipated start of the Trans Mountain Expansion Project. Financially, Greenfire saw a Q4 2023 adjusted EBITDA of $23.4 million, with capital expenditures of $33.4 million for the year.
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