GFR SCHEDULE 13D/A: Activist campaign

Waterous Energy Fund III and affiliated entities

Filed with the SEC on · accession 0001193125-26-455883

GFR filed a SCHEDULE 13D/A (schedule 13d/a) with the SEC on Nov 10, 2026. Waterous Energy Fund III and affiliated entities filed an amended Schedule 13D reporting beneficial ownership of approximately 72.45% of Greenfire Resources' common shares (including warrants), following an Arrangement Agreement dated November 8, 2026. The stock moved -0.6% by the first close after the filing.

Summary of the filing

Waterous Energy Fund III and affiliated entities filed an amended Schedule 13D reporting beneficial ownership of approximately 72.45% of Greenfire Resources' common shares (including warrants), following an Arrangement Agreement dated November 8, 2026. This represents a significant increase in ownership, suggesting a potential take-private or control transaction.

Key details

Aggregate common shares beneficially owned (including warrants)$177.0M
Common shares outstanding as of November 8, 2026$240.4M
Common share purchase warrants held$2.7M
Common shares issuable upon exercise of warrants$3.9M
Reporting person / major shareholderWaterous Energy Fund III (US) LP
Reporting person / major shareholderWaterous Energy Fund III (Canadian) LP
Reporting person / major shareholderWaterous Energy Fund III (International) LP
Reporting person / major shareholderWaterous Energy Fund III (Canadian FI) LP
Reporting person / major shareholderWaterous Energy Fund III (International FI) LP
Reporting person / general partnerWEF III GP (Canadian) Corp.
Reporting person / general partnerWEF III GP (US) Corp.
Reporting person / general partnerWEF III GP (International) Corp.
Reporting person / general partnerWEF III GP (Canadian FI) Corp.
Subject companyGreenfire Resources Ltd.
Authorized signatory, waterous energy fundAdam Waterous

How GFR stock reacted

Close before

$7.73

Nov 9, 2026

First close after

-0.65%

$7.68

5 trading days

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Since filing

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Frequently asked questions

What did GFR file with the SEC on Nov 10, 2026?

GFR filed a SCHEDULE 13D/A (Activist campaign). Waterous Energy Fund III and affiliated entities filed an amended Schedule 13D reporting beneficial ownership of approximately 72.45% of Greenfire Resources' common shares (including warrants), following an Arrangement Agreement dated November 8, 2026. This represents a significant increase in ownership, suggesting a potential take-private or control transaction.

What does a activist campaign mean for GFR stock?

A settlement removes uncertainty; the stock often reacts to whether the amount is bigger or smaller than investors expected.

How do I read a SCHEDULE 13D/A?

A report the company filed with the SEC (the US market regulator). Start with the summary, then the key amounts and names. Compare it with the company’s earlier filings.

Why are SEC filings important?

Public companies must tell the SEC about anything that can change their value — results, leadership changes, big deals, new shares, bankruptcy. Filings are the official source, often before the news. A SCHEDULE 13D/A (schedule 13d/a): A report the company filed with the SEC (the US market regulator).

How did GFR stock react to this filing?

GFR closed at $7.73 before the filing and $7.68 on Nov 10, 2026 (-0.65%).

Other GFR SEC filings

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