Greenfire Resources Ltd. Common Shares (GFR) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Welcome to the Greenfire Resources First Quarter Results Conference Call. As a reminder, this conference call is being recorded. I would now like to turn the meeting over to Mr. Robert Loback, Vice President of Capital Markets. Please go ahead, Robert. Thank you, Operator. Good morning, and welcome to Greenfire's conference call for our Q1 2025 results. Please note that today's call includes forward-looking statements and references non-GAAP and other financial measures. We encourage you to review the associated risks detailed in our latest MD&A. Unless specified otherwise, all monetary figures discussed today are in Canadian dollars. Capital expenditures and production figures presented today are based on our working interest, net to Greenfire, unless noted otherwise. Joining us on today's call are key members of Greenfire's leadership team, including Adam Wadris, Executive Chairman, Paul Andromaniuk, President, Tony Kraljic, Chief Financial Officer, and Jonathan Kendurka, Chief Operating Officer. Upon the conclusion of our prepared remarks, I will open the floor to questions from participants. I will now hand over the call to Adam. Thank you, Robert, and welcome everyone to Greenfire's Q1 2025 conference call. Prior to opening up the call to questions, we just have a few brief comments on the business. Let's touch on the bad news first. Punchline is that the current production of Green Fire's expansion asset has been poor and is primarily attributable to three factors. First, Green Fire's 2023 and 2024 refill program has accelerated the base decline profile at the expansion asset. Second, one of four boilers at our expansion asset has been offline due to wear from sulfur production at the central processing facility. We believe t...