The share price of Greenfire Resources Ltd. (NYSE:GFR) fell by 6.02% between September 18 and September 25, 2025, putting it among the Energy Stocks that Lost the Most This Week. Greenfire Resources (GFR) Falls Following Rating Downgrade Greenfire Resources Ltd. (NYSE:GFR) is an oil sands producer that is actively developing its long-life and low-decline thermal oil assets in the Athabasca region of Alberta, Canada. Greenfire Resources Ltd. (NYSE:GFR) took a hit after BMO Capital analyst Tariq Saad down ...

Core Insights - Athabasca Oil Corporation reported strong operational performance and consistent financial results in Q2 2025, with a focus on returning capital to shareholders [1][2][10] Financial Performance - Average production reached 39,088 boe/d, a 4% increase year-over-year, with 98% of production being liquids [7] - Adjusted Funds Flow was $128 million ($0.25 per share), while Cash Flow from Operating Activities totaled $101 million [7][20] - Free Cash Flow amounted to $66 million, supporting the company's commitment to return 100% of Free Cash Flow to shareholders in 2025 [7][20] Capital Expenditures and Growth Projects - Total capital expenditures for the quarter were $73 million, with $54 million allocated to the Leismer project to support a phased growth initiative targeting 40,000 bbl/d [7][20] - The Leismer expansion project is on schedule and budget, with an estimated cost of $300 million and expected interim growth targets of 32,000 bbl/d by H2 2026 [14][8] Shareholder Returns - The company has repurchased 24 million shares year-to-date, with approximately $600 million in share buybacks since March 31, 2023, reducing the fully diluted share count by 21% [7][20] - Athabasca aims to return all Free Cash Flow from its Thermal Oil assets to shareholders through share buybacks [7][20] Operational Highlights - Leismer's production is currently around 28,000 bbl/d, with additional well pairs expected to maintain production rates [7][13] - The Hangingstone asset produced approximately 8,900 bbl/d, exceeding management's expectations [15] - Duvernay Energy Corporation completed a four-well pad and is positioned for strong operational momentum with an exit target of ~6,000 boe/d [16][17] Financial Position - The company maintains a Net Cash position of $119 million and total liquidity of $437 million, including $304 million in cash [7][20] - Athabasca has $2.2 billion in tax pools, allowing for a low Crown royalty framework and no forecasted cash taxes for the decade [11][20] Market Outlook - Canadian heavy oil markets remain strong, supported by the Trans Mountain Expansion pipeline and sustained global refining demand, leading to tighter WCS heavy differentials [11] - The company forecasts consolidated Adjusted Funds Flow between $525 - $550 million for 2025, with significant Free Cash Flow expected to support return of capital initiatives [7][20]