Core Viewpoint - Greenfire Resources Ltd. reported its Q3 2025 financial and operational results, highlighting a decrease in bitumen production and a significant net loss, while also announcing refinancing initiatives and production guidance for 2026 [3][4][18]. Financial Highlights - Bitumen production for Q3 2025 was 15,757 bbls/d, a decrease from 19,125 bbls/d in Q3 2024 [9][10]. - Oil sales amounted to $141.1 million, down from $193.6 million in the same quarter last year [4][41]. - The company reported a net loss of $8.8 million compared to a net income of $58.9 million in Q3 2024 [7][30]. - Adjusted funds flow was $38.1 million, down from $44.1 million in Q3 2024 [6][34]. - Capital expenditures totaled $17.9 million, a decrease from $21.2 million in the prior year [10][44]. Operational Update - The company successfully restored a failed steam generator at the Expansion Asset ahead of schedule, with full steam capacity expected by year-end 2025 [11]. - Production in October 2025 was approximately 15,500 bbls/d, with ongoing impacts from one offline steam generator [11]. - The Expansion Asset produced 10,404 bbls/d in Q3 2025, reflecting a 3% increase from the previous quarter, while the Demo Asset saw a 5% decrease to 5,353 bbls/d [13]. 2026 Guidance - Greenfire anticipates 2025 production to be at the high end of its guidance range of 15,000-16,000 bbls/d [16]. - The board approved a 2026 capital budget of $180 million, with expected production of 15,500 to 16,500 bbls/d [17]. Refinancing Initiatives - The company secured a $275 million revolving credit facility, contingent on redeeming $237.5 million of senior secured notes due 2028 [18]. - A $300 million rights offering is planned to fund the redemption of the 2028 Notes [18].