Welcome to our dedicated page for Granite Ridge Resources news (Ticker: GRNT), a resource for investors and traders seeking the latest updates and insights on Granite Ridge Resources stock.
Overview
Granite Ridge Resources Inc (GRNT) is a scaled, non-operated oil and gas exploration and production company renowned for its diversified investment portfolio and strategic partnerships with proven operators. With a primary focus on the Permian basin and other prolific US basins, the company is dedicated to generating sustainable, full-cycle, risk adjusted returns while maintaining an unwavering commitment to safe and responsible energy production.
Business Model and Operations
The company operates on a non-operated investment model, meaning that it invests in high-quality production assets and acreage rather than directly managing drilling operations. This model enables Granite Ridge Resources Inc to leverage the expertise and operational efficiencies of established oil and gas operators, thereby minimizing its exposure to operational risks while capitalizing on the financial gains stemming from a diversified asset base. The company’s approach has been meticulously structured to balance risk and reward, positioning it as a key player in the upstream segment of the energy market.
Portfolio and Investment Strategy
Granite Ridge Resources Inc invests in a diverse portfolio that spans top-tier acreage in several prolific US basins. This diversified approach not only mitigates sector-specific risks but also allows the company to capitalize on varying production cycles offered by different regions. Key industry keywords such as non-operated ventures, oil and gas exploration, and diversified portfolio investments are central to understanding the company's strategic positioning. By partnering with experienced operators, the company aims to ensure that each investment is supported by solid field performance and proven operational capabilities.
Market Position and Value Proposition
Positioned within a competitive landscape, Granite Ridge Resources Inc holds a distinctive niche by focusing exclusively on investments that offer sustainable returns while maintaining a conservative risk profile. Its strategy is built upon a deep understanding of the geological, operational, and market variables that impact the oil and gas sector. This well-rounded approach to asset selection and partnership management contributes to its reputation as a reliable entity capable of delivering consistent energy solutions.
Operational Excellence and Safety
Beyond its financial and strategic endeavors, the company places significant emphasis on operational excellence and safety. This commitment is reflected in its rigorous due diligence processes when evaluating potential investments and partnerships, ensuring that the operations not only meet industry benchmarks but also adhere to high safety and environmental standards. The company’s balanced approach underscores its role in delivering reliable energy solutions while maintaining operational integrity.
Industry Terminology and Competitive Analysis
For investors and market analysts, understanding the detailed mechanics of a non-operated oil and gas firm is crucial. Granite Ridge Resources Inc utilizes terms such as risk adjusted returns, diversified acreage, and operator partnership models to describe its investment strategy. This precise lexicon reflects the company's deep industry knowledge and organizational focus. The competitive advantages can be seen in its methodical selection of assets, strategic partnerships, and consistent adherence to a defined business model that reduces operational complexities and enhances return on investment.
Conclusion
Overall, Granite Ridge Resources Inc offers investors an insightful example of a non-operated exploration and production company that strategically balances risk with potential rewards. Its investment philosophy, operational adherence to high safety standards, and commitment to sustainable energy solutions combine to form an informative case study of modern asset management in the oil and gas industry. The company remains a robust participant in the energy sector by continuously refining its portfolio and leveraging industry expertise to navigate the complex upstream market.
Granite Ridge Resources (NYSE: GRNT) reported its Q4 and full-year 2024 results, highlighting a 7% increase in total production to 27,734 Boe/day (53% oil) and a notable 20% increase in oil production. The company posted a Q4 net loss of $11.6 million (-$0.09 per share), while Adjusted Net Income reached $22.7 million ($0.17 per diluted share).
Key financial metrics include Q4 Adjusted EBITDAX of $82.6 million and capital investments of $93.3 million, resulting in 86 gross wells. The company maintained strong liquidity of $129.1 million with a Net Debt to Adjusted EBITDAX ratio of 0.7x. For the full year 2024, Granite Ridge achieved net income of $18.8 million ($0.14 per share) and declared a dividend of $0.11 per share.
Looking ahead to 2025, the company projects a 16% production increase to 28,000-30,000 Boe per day. Proved reserves as of December 31, 2024, totaled 54,315 MBoe, with 72% being proved developed reserves.
Granite Ridge Resources (NYSE: GRNT) has announced a regular quarterly dividend of $0.11 per share, payable on March 14, 2025, to shareholders of record as of February 28, 2025. The company will report its Q4 2024 financial and operating results on March 6, 2025, after NYSE trading hours.
A webcast and conference call to discuss these results is scheduled for March 7, 2025, at 10:00 a.m. central time. An audio replay will be available through March 21, 2025.
Granite Ridge Resources reported its third-quarter 2024 results, highlighting an average production of 25,177 barrels of oil equivalent (Boe) per day. The company posted a net income of $9.1 million or $0.07 per diluted share and an adjusted net income (non-GAAP) of $18.5 million or $0.14 per diluted share. Adjusted EBITDAX (non-GAAP) was $75.4 million. Granite Ridge placed 93 gross wells online and closed multiple transactions, adding 15.9 net future drilling locations for an acquisition cost of $30.9 million. The company declared a quarterly dividend of $0.11 per share, implying a 6.9% annualized yield. Liquidity at the quarter's end was $127.8 million. Subsequent to the quarter, Granite Ridge increased its borrowing base to $325 million and declared a regular quarterly dividend payable on December 16, 2024. Oil production increased 3% year-over-year, while natural gas production decreased 12%, leading to an overall production decline of 5%.
Granite Ridge Resources (NYSE: GRNT) has announced its schedule for reporting third quarter 2024 financial and operating results. The company will release its results on Thursday, November 7, 2024, after the New York Stock Exchange closes. A webcast and conference call to discuss these results will be held on Friday, November 8, 2024, at 10:00 a.m. Central time.
Participants can pre-register for the webcast using the provided link or access it through the company's investor relations website. For those joining by phone, the toll-free dial-in number is (888) 660-6093 with conference ID 4127559. An audio replay will be available until November 22, 2024, accessible by dialing (800) 770-2030 and entering the same conference ID.
Granite Ridge Resources Inc. (NYSE: GRNT) reported its Q2 2024 results, highlighting a 7% increase in production to 23,106 Boe per day. The company achieved net income of $5.1 million, or $0.04 per diluted share, and adjusted net income of $17.2 million, or $0.13 per diluted share. Granite Ridge generated $68.3 million in Adjusted EBITDAX and placed 62 gross wells online. The company closed multiple transactions, adding 16.4 net future drilling locations for $22.4 million. A quarterly dividend of $0.11 per share was declared, payable on September 13, 2024. The company updated its 2024 guidance, increasing total capital expenditures to $355-$365 million, reflecting recent acquisitions and development plans.
Granite Ridge Resources (NYSE: GRNT) has announced that it will release its financial and operating results for the second quarter of 2024 on August 8, 2024, after market close. The company will host a webcast and conference call on August 9, 2024, at 10:00 a.m. CT to discuss the results. Participants are encouraged to pre-register for the webcast. The toll-free dial-in number for the call is (888) 660-6093, using conference ID 4127559. An audio replay will be accessible through August 23, 2024, by dialing (800) 770-2030 and entering the same conference ID.
Granite Ridge Resources announced a quarterly cash dividend of $0.11 per share. This dividend will be payable on June 14, 2024, to shareholders who are on record as of May 31, 2024. Future dividend declarations are subject to the approval of the Board of Directors.
Granite Ridge Resources Inc. reported financial and operating results for the first quarter of 2024, highlighting a 3% production growth to 23,842 Boe per day, with net income of $16.2 million. The company generated $64.5 million of Adjusted EBITDAX and closed several acquisitions during the quarter. Despite a slight decrease in oil production, total production increased, with positive cash flow and operational activities. The company provided 2024 guidance and will host a conference call to discuss results.
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