Why These Energy Stocks are Gaining This Week

4. Greenfire Resources Ltd. (NYSE:GFR)

Share Price Gains Between Mar. 26 – Apr. 2: 11.94%

Greenfire Resources Ltd. (NYSE:GFR) is an oil sands producer actively developing its long-life and low-decline thermal oil assets in the Athabasca region of Alberta, Canada.

Greenfire Resources Ltd. (NYSE:GFR) recently reported its FY 2024 results, posting a full-year EPS of $1.76 against an EPS of -$2.49 in 2023. The company also witnessed a substantial rise in its adjusted funds flow, which increased by almost 135% YoY to $171.85 million last year. GFR’s production also surged by around 9.3% YoY in 2024, and its new management has increased its permitted capital expenditures in any 12-month period from $100 million to $150 million.

It was also reported last week that Waterous Energy Fund, which owns a majority stake in Greenfire Resources Ltd. (NYSE:GFR), has closed its third private equity round at the stated target of $1 billion.