Granite Ridge Resources, Inc. - GRNT STOCK NEWS

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.

Granite Ridge Resources, Inc. (NYSE: GRNT) will report Q1 2024 financial results on May 9, 2024, followed by a webcast and conference call on May 10, 2024, at 10:00 a.m. CDT.

Granite Ridge Resources, Inc. (GRNT) announced the successful completion of its semi-annual borrowing base redetermination and entry into the third amendment to the Company's existing credit agreement. The borrowing base was increased from $275 million to $300 million, with the aggregate elected commitments also raised by 25% to $300 million. Bank of America, N.A. was appointed as the successor Administrative Agent and L/C Issuer, and the lender syndicate was expanded by adding nine new banks. The next bank redetermination is scheduled for fall 2024.

Granite Ridge Resources, Inc. (GRNT) will participate in the Water Tower Research Fireside Chat Series on March 13, 2024. Luke Brandenberg, President and CEO, will discuss the company's strategy, capital plans, and financial position. The event is open to all investors, with replays available.

Granite Ridge Resources, Inc. (NYSE: GRNT) reported strong financial and operating results for Q4 2023 and full-year 2023, with notable highlights including an 18% production growth, net income of $17.5 million, and Adjusted Net Income of $26.4 million. The company deployed $78.4 million of capital, placed 80 wells online, and declared a dividend of $0.11 per share. They ended 2023 with $140.1 million of liquidity and completed the sale of certain Permian Basin assets to Vital Energy, Inc. Granite Ridge's President and CEO, Luke Brandenberg, expressed optimism for 2024, projecting a 7% production increase from 2023 levels. The company's proven reserves increased by 6% year-over-year, and they closed ten transactions in Q4 2023 to enhance their asset base.

Granite Ridge Resources, Inc. (GRNT) declares a regular quarterly dividend of $0.11 per share, payable on March 15, 2024, to shareholders of record as of March 1, 2024, subject to Board approval.