Strathcona Resources agrees to acquire Greenfire Resources
GFR•Strathcona Resources will acquire Greenfire Resources for CAD 2.7 billion to CAD 2.9 billion, including about CAD 550 million in net debt. Greenfire shareholders may elect CAD 11 cash per share, a 39% premium, or 0.25 Strathcona shares; closing is expected after shareholder meetings in January 2027, subject to approvals.
1. Deal terms
Strathcona Resources will acquire Greenfire Resources for CAD 2.7 billion to CAD 2.9 billion, including approximately CAD 550 million in net debt. Greenfire shareholders can receive CAD 11 cash per share, a 39% premium, or 0.25 acquirer shares, without proration.
2. Combined operations
The combined business would produce 153,000 barrels daily, based on year-to-date 2026 output, and have proved and probable reserves exceeding 3 billion barrels. Annual run-rate synergies are expected to reach approximately CAD 75 million within the first year of combined operations.
3. Expected closing
Closing is expected shortly following shareholder meetings in January 2027, subject to shareholder, court and regulatory approvals.
