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Granite Ridge Resources, Inc. - GRNT STOCK NEWS

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
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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.

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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.

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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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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.
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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.
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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.
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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.
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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.
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Granite Ridge Resources, Inc. (NYSE: GRNT) provided an operational update and released select preliminary fourth-quarter 2023 results. The company closed a vital asset sale, reported operational updates, and announced earnings release and conference call details. The sale of Permian Basin assets to Vital Energy, Inc. for shares and convertible preferred securities was a significant transaction. The company reported fourth-quarter operational updates, including acquisitions and controlled CapEx through strategic partnerships. The total production and oil production for the quarter were also disclosed. The year-end 2023 SEC proved reserves summary and balance sheet items were provided. The company also announced fourth-quarter and full-year 2023 earnings release and conference call details.
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Granite Ridge Resources, Inc. (NYSE: GRNT) Declares Quarterly Dividend of $0.11 per Share
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FAQ

What does Granite Ridge Resources, Inc. specialize in?

Granite Ridge Resources specializes in non-operated oil and gas exploration and production, focusing on diversified portfolios in the Permian Basin and other prolific U.S. basins.

Where does Granite Ridge Resources, Inc. invest?

The company invests in top-tier acreage across the Permian and four other prolific U.S. basins, partnering with proven operators.

What is the main source of revenue for Granite Ridge Resources, Inc.?

Granite Ridge generates maximum revenue from its oil exploration and production activities.

How does Granite Ridge Resources, Inc. ensure investor returns?

The company focuses on generating sustainable full-cycle risk-adjusted returns by investing in high-potential oil and gas fields and partnering with experienced operators.

What is Granite Ridge Resources, Inc.'s commitment to the environment?

Granite Ridge is committed to delivering reliable energy solutions safely and responsibly, emphasizing sustainability and environmental responsibility in all projects.

How can I stay updated on Granite Ridge Resources, Inc.?

For the latest updates and relevant information, you can follow their published news and reports on key milestones and financial results.

What recent achievements has Granite Ridge Resources, Inc. accomplished?

Recent achievements include expanding production capacities and securing new partnerships that enhance the value of their portfolio.

Who does Granite Ridge Resources, Inc. partner with?

Granite Ridge partners with proven operators in the oil and gas industry to maximize returns and ensure sustainable operations.

What sets Granite Ridge Resources, Inc. apart from other companies in the industry?

Granite Ridge is distinguished by its non-operated model, focusing on high-potential investments, strong partnerships, and commitment to sustainability and responsibility.

Does Granite Ridge Resources, Inc. provide a rewarding experience for its team?

Yes, Granite Ridge is dedicated to providing a rewarding experience for their team, fostering a positive and productive work environment.

Granite Ridge Resources, Inc.

NYSE:GRNT

GRNT Rankings

GRNT Stock Data

902.13M
130.74M
52.09%
32.21%
1.5%
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
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United States of America
DALLAS