Mergers & Acquisitions ·
Greenfire Resources Ltd. completed the acquisition of Connacher Oil and Gas Limited for $1.297 billion on August 5, 2026
GFR-RIGreenfire Resources Ltd.
Greenfire Resources Ltd. completed the acquisition of Connacher Oil and Gas Limited for $1.297 billion on August 5, 2026. The transaction was financed through a draw on an upsized Senior Credit Facility, increased from $275 million to $1.0 billion, and a $575 million bridge facility expected to be repaid via an anticipated rights offering. Waterous Energy Fund has committed to providing at least $575 million in standby commitment for the offering. Concurrently, Greenfire closed the upsize of its Senior Credit Facility, which now matures on August 5, 2028. The company also reported second quarter 2026 financial results showing a net loss of $19.5 million and revised full-year production guidance to average between 21,500 and 23,500 barrels per day. Greenfire Resources Ltd. is an oil sands producer focused on the development of thermal oil assets in the Athabasca region of Alberta.