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Greenfire Resources Ord Shs T.GFR

Alternate Symbol(s):  GFR | GFRWF

Energy Oil & Gas E&P
Greenfire Resources Ltd. is an energy company focused on the production and development of thermal energy resources from the Athabasca region of Alberta, Canada. Its business is the production and development of upstream energy resources from the oil sands in Canada, using in situ thermal oil production extraction techniques, such as steam assisted gravity drainage (SAGD). Its operations include Thermal Oil Operations, Tier-1 Oil Sands Reservoir, Hangingstone Facilities, Infrastructure & Pipelines and Cooperation with Trafigura. Its operations in the Canadian oil sands leverage in situ thermal oil development to access Western Canada’s energy resources. It operates two SAGD oil production facilities within the same Tier-1 reservoir at Hangingstone, situated 50 kilometers (km) south of Fort McMurray in Northern Alberta. Its Demo Asset is located 50 km south of Fort McMurray, Alberta. The Expansion Asset and Demo Asset (together the Hangingstone Facilities) have a Tier-1 SAGD reservoir.


TSX:GFR - Post by User

Greenfire Resources Ord Shs > VERY NICE: FIRM TALE-OR-PAY Two Year SAGD DRILLING CONTRACT
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Post by ztransforms173on Nov 15, 2023 11:00am
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Post# 35736815

VERY NICE: FIRM TALE-OR-PAY Two Year SAGD DRILLING CONTRACT

VERY NICE: FIRM TALE-OR-PAY Two Year SAGD DRILLING CONTRACT- as far as I KNOW, they are the ONLY SAGD operator who has DONE THIS

* MEG CEO Derek Evans COMPLAINS about the LACK OF SKILLED PERSONNEL and SERVICE CONTRACT INFLATIONARY PRESSURE but has RESISTED TAKE-OR-PAY due to their STRICT POLICY of MANAGING and CONTROLLING CAPEX 

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Greenfire entered into a two-year take-or-pay drilling commitment with an established Steam Assisted Gravity Drainage (“SAGD”) drilling contractor in Western Canada to provide cost structure and service availability certainty as the Company commences a two-year continuous drilling program.

https://www.sec.gov/Archives/edgar/data/1966287/000121390023087157/ea188369ex99-3_greenfire.htm

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z173

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