Greenfire Resources Ltd. is a Canadian energy company headquartered in Calgary, Alberta, specializing in the development and operation of oil sands assets. The company’s origins trace back to private investment efforts aimed at acquiring and optimizing mature thermal oil projects in the Athabasca region. Greenfire’s approach combines technical refinement of existing operations with selective expansion in areas offering long-term production stability.
Its principal asset is the Hangingstone Oil Sands Project, located south of Fort McMurray, Alberta. The project includes two core facilities—Hangingstone Demonstration and Hangingstone Expansion—both employing steam-assisted gravity drainage (SAGD) technology to recover bitumen from deep oil sands formations. This method enables continuous production with lower surface disturbance, aligning with the company’s operational emphasis on efficient resource recovery.
A defining feature of Greenfire is its integration of field operations with in-house engineering and subsurface expertise, allowing the company to maintain operational control while relying on established infrastructure. Its strategic advantage lies in owning scalable projects with existing production history, complemented by infrastructure connectivity that supports both bitumen output and diluent blending. This combination positions Greenfire as a focused operator in Canada’s in-situ oil sands sector, emphasizing technical execution and asset optimization over geographic diversification.