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. (NYSE: GRNT) is an energy company engaged in crude petroleum and natural gas extraction through a mix of operated partnerships and traditional non-operated assets. This news page aggregates the company’s publicly released updates, giving readers a single place to review its latest operational, financial, and strategic announcements.
Company press releases frequently cover quarterly and annual financial results, including oil and natural gas sales, production volumes, capital expenditures, and non-GAAP measures such as Adjusted EBITDAX and Adjusted Net Income. These updates often include guidance ranges for production, capital spending, and operating costs, as well as information about the company’s liquidity, borrowing base under its credit agreement, and use of commodity derivatives to manage price risk.
Granite Ridge’s news flow also highlights operational activity across its diversified portfolio of assets in six prolific unconventional basins, including the Permian and Appalachian (Utica) regions. Releases describe wells turned in-line, acquisitions of additional undeveloped locations, and performance from key partners within its Operated Partnership platform and non-operated portfolio. The company’s announcements often discuss how these activities contribute to its stated goal of delivering full-cycle, risk-adjusted returns.
In addition, readers will find news about quarterly cash dividend declarations, conference call schedules, and participation in investor conferences. Certain releases describe leadership changes and corporate governance developments, as well as arrangements related to power generation capacity, such as Granite Ridge’s role as a financial partner in Conduit Power’s distributed natural gas power projects in the ERCOT market.
By reviewing this news feed, investors and observers can follow Granite Ridge’s reported production trends, capital allocation decisions, balance sheet developments, and strategic initiatives across its oil, natural gas, and related energy activities.
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Granite Ridge Resources, Inc. (NYSE: GRNT) will release its first quarter 2023 financial and operating results on May 11, 2023, post-market close. A webcast and conference call to discuss these results is scheduled for May 12, 2023, at 10:00 a.m. Central time. Participants can register for the webcast through the provided link. An audio replay will be available until May 26, 2023, accessed by dialling (800) 770-2030 with the conference ID 4127559. Granite Ridge focuses on non-operated oil and gas exploration and production, investing across key U.S. basins. For more details, visit www.graniteridge.com.
Granite Ridge Resources reported strong fourth quarter and full year 2022 results, with a 45% increase in production to 22,031 barrels of oil equivalent per day. The company achieved net income of $56.7 million ($0.43/share) and an adjusted EBITDAX of $83.2 million, reflecting a 60% year-over-year increase. Total production for 2022 was up 22%, with a net income of $262.3 million ($1.97/share), compared to $108.5 million in 2021. Granite Ridge plans a quarterly dividend of $0.11 per share in 2023 and anticipates 9% production growth with $260-$270 million in capital expenditures. As of December 31, 2022, liquidity stood at $200.8 million.