Greenfire Resources Reports 2025 Annual Meeting Voting Results

Greenfire Resources held its 2025 annual shareholders’ meeting, with about 81% of shares represented and all proposed matters, including the election of seven directors, gaining strong approval. Brian Heald was appointed Chair of the Audit Committee, and Deloitte LLP was reappointed as auditor. The company reported a 10% decline in Q1 2025 bitumen production, largely due to steam generation issues at its Expansion Asset, though its Demo Asset saw a significant production increase. Financially, Greenfire demonstrated resilience, generating $34.7 million in operating cash flow and maintaining a solid equity position, despite ongoing operational challenges and revenue volatility. The company is investing $15 million in sulphur removal facilities to address regulatory compliance, with completion expected by the end of 2025. Looking forward, Greenfire aims for capital-efficient growth through new drilling projects and maintains a robust hedging strategy to support financial stability.