Greenfire Resources (GFR) Rallies Following WEF Investment

The share price of Greenfire Resources Ltd. (NYSE:GFR) surged by 15.88% between November 14 and November 21, 2025, putting it among the Energy Stocks that Gained the Most This Week.

Greenfire Resources (GFR) Rallies Following WEF Investment

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) received a boost on November 12 when it was reported that Waterous Energy Fund (WEF) had invested over C$57 million in the company by acquiring 8,703,479 of its common shares. The stock then continued its rally when a November 14 report revealed that WEF has bought an additional 1,926,055 common shares of GFR through a private transaction, for a total purchase price of around C$12.8 million.

Following the two purchases, Waterous Energy Fund now owns a 71% stake in Greenfire Resources Ltd. (NYSE:GFR), locking in control of the company. It is also worth noting that Greenfire had announced a C$300 million equity rights offering on November 4 to help fund the redemption of the company’s $237.5 million senior secured notes due 2028, together with any accrued and unpaid interest.

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Disclosure: None.