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Greenfire Resources Reports First Quarter 2025 Results and Provides an Operational Update
Readers are advised to review the "Non-GAAP and Other Financial Measures" section of this press r...
About this update from Greenfire Resources Ltd.
[{"type":"text","content":"Greenfire Resources Reports First Quarter 2025 Results and Provides an Operational UpdateReaders are advised to review the \"Non-GAAP and Other Financial Measures\" section of this press release for information regarding the presentation of financial measures that do not have standardized meaning under IFRS® Accounting Standards. Readers are also advised to review the \"Forward-Looking Information\" section in this press release for information regarding certain forward-looking information and forward-looking statements contained in this press release. All amounts in this press release are stated in Canadian dollars unless otherwise specified. The Company holds a 75% working interest in the Hangingstone Expansion Facility (the \"Expansion Asset\") and a 100% working interest in the Hangingstone Demonstration Facility (the \"Demo Asset\" and, together with the Expansion Asset, the \"Hangingstone Facilities\"). Unless indicated otherwise, production volumes and per unit statistics are presented throughout this press release on a \"gross\" basis as determined in accordance with National Instrument 51-101 - Standards for Disclosure for Oil and Gas Activities, which is the Company's gross working interest basis before deduction of royalties.Calgary, Alberta--(Newsfile Corp. - May 6, 2025) - Greenfire Resources Ltd. (NYSE: GFR) (TSX: GFR) (\"Greenfire\" or the \"Company\"), today reported its operating and financial results for the quarter ended March 31, 2025 (\"Q1 2025\"). The unaudited condensed interim consolidated financial statements and notes for the three months ended March 31, 2025 and 2024, as well as the related Management's Discussion and Analysis (\"MD&A\"), will be available on SEDAR+ at www.sedarplus.ca, on EDGAR at https://www.sec.gov/search-filings and on Greenfire's website at www.greenfireres.com.Q1 2025 HighlightsBitumen production of 17,495 bbls/dCash provided by operating activities of $34.7 million and Adjusted funds flow(1) of $31.4 millionCapital expenditures(2) of $26.3 millionAdjusted free cash flow(1) of $5.1 millionFinancial & Operating HighlightsThree Months Ended($ thousands, unless otherwise indicated)March 31, 2025March 31, 2024December 31, 2024WTI (US$/bbl)71.4276.9670.27WCS differential to WTI (US$/bbl)(12.67)(19.31)(12.56)WCS Hardisty (C$/bbl)84.2977.7680.75Average FX Rate (C$/US$)1.434...