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.
Granite Ridge Resources, Inc. (symbol: GRNT) is a leading non-operated oil and gas exploration and production company. Specializing in investing in a diversified portfolio of production and top-tier acreage, Granite Ridge focuses on the Permian Basin and four other prolific U.S. basins. By partnering with proven operators, the company maximizes returns and ensures sustainable full-cycle risk-adjusted returns for its investors.
Granite Ridge's core business revolves around strategic investments in high-potential oil and gas fields. The company aims to generate maximum revenue and maintain a strong financial condition through prudent asset management and leveraging partnerships with experienced operators. Recent achievements include expanding their production capacities and securing new partnerships that enhance their portfolio's value.
The company is committed to delivering reliable energy solutions safely and responsibly. They emphasize sustainability and environmental responsibility in all their projects. Granite Ridge Resources Inc. continuously seeks to provide a rewarding experience for their team and create long-term value for their shareholders.
For regular updates on their performance, events, and developments, Granite Ridge publishes the latest news and reports on key milestones and financial results.
- Premier non-operated oil and gas exploration and production
- Diversified portfolio in the Permian and other U.S. basins
- Partnerships with proven operators
- Sustainable full-cycle risk-adjusted returns
- Commitment to safety, responsibility, and environmental sustainability
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.
FAQ
What is the current stock price of Granite Ridge Resources (GRNT)?
What is the market cap of Granite Ridge Resources (GRNT)?
What does Granite Ridge Resources, Inc. specialize in?
Where does Granite Ridge Resources, Inc. invest?
What is the main source of revenue for Granite Ridge Resources, Inc.?
How does Granite Ridge Resources, Inc. ensure investor returns?
What is Granite Ridge Resources, Inc.'s commitment to the environment?
How can I stay updated on Granite Ridge Resources, Inc.?
What recent achievements has Granite Ridge Resources, Inc. accomplished?
Who does Granite Ridge Resources, Inc. partner with?
What sets Granite Ridge Resources, Inc. apart from other companies in the industry?
Does Granite Ridge Resources, Inc. provide a rewarding experience for its team?
