Granite Ridge Resources (NYSE: GRNT) amends management pact and signs new power capacity commitment

Rhea-AI Filing Summary

Granite Ridge Resources, Inc. reported amending its management services agreement with Grey Rock Administration, LLC and entering a new power capacity commitment with Conduit Bravo LLC.

The amendment extends the agreement’s initial term from April 30, 2028 to April 30, 2031 and raises the annual services fee from $10.0 million to $11.75 million, with CPI-based annual adjustments beginning January 1, 2027 and authority for management to increase the fee up to $12.50 million. All other material terms of the existing agreement remain the same.

Separately, wholly owned subsidiary Granite Ridge Ventures, LLC entered into a power capacity commitment with Conduit Bravo LLC, a portfolio company of funds managed by affiliates of Grey Rock Investment Partners. This arrangement is documented under an ISDA 2002 Master Agreement, a Transaction Confirmation, an Omnibus Agreement and related documents that will be filed with the company’s Form 10-K for the year ending December 31, 2025.

Insights

Energy sector corporate governance analyst

Granite Ridge extends a key management contract to 2031 and modestly raises associated fees, while adding a structured power capacity commitment with an affiliated counterparty.

Granite Ridge Resources extended the initial term of its management services agreement with Grey Rock Administration, LLC by three years to April 30, 2031. The services fee increases from $10.0 million to $11.75 million, with annual CPI-based adjustments beginning January 1, 2027 and potential increases up to a maximum total of $12.50 million. This locks in external management support for a longer period while modestly raising the company’s recurring expense under this contract.

In a separate step, wholly owned subsidiary Granite Ridge Ventures, LLC entered into a power capacity commitment with Conduit Bravo LLC, documented under an ISDA 2002 Master Agreement, a Transaction Confirmation and an Omnibus Agreement. Conduit Bravo and its parent are portfolio companies of funds managed by affiliates of Grey Rock Investment Partners, highlighting an affiliated-party dimension that investors may evaluate in the context of governance and pricing. The company indicates that the full transaction documents will be filed with its Form 10-K for the year ending December 31, 2025, which will give additional transparency on commercial terms and risk allocation.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________________________________________________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

______________________________________________________________________

Date of Report (Date of earliest event reported): December 10, 2025

______________________________________________________________________

GRANITE RIDGE RESOURCES, INC.

(Exact name of registrant as specified in its charter)

Delaware			001-41537			88-2227812
(State or other jurisdiction of incorporation)			(Commission File Number)			(IRS Employer Identification No.)

5217 McKinney Avenue, Suite 400 Dallas, Texas						75205
(Address of principal executive offices)						(Zip Code)

(214) 396-2850

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common stock, par value $0.0001 per share			GRNT			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 1.01    Entry into a Material Definitive Agreement.

Amendment No. 1 to Management Services Agreement

On December 10, 2025 (the “Amendment Date”), Granite Ridge Resources, Inc., a Delaware corporation (the “Company”), entered into Amendment No. 1 to the Management Services Agreement (“Amendment No. 1”) amending the Company’s existing Management Services Agreement, dated October 24, 2022, by and between the Company and Grey Rock Administration, LLC, a Delaware limited liability company (prior to the Amendment Date, the “Existing Management Services Agreement”).

Amendment No. 1, among other things, (a) extended the Initial Term (as defined in the Existing Management Services Agreement) from April 30, 2028 to April 30, 2031 and (b) increased the Services Fee (as defined in the Existing Management Services Agreement) from $10.0 million to $11.75 million, provided for annual CPI-based adjustments beginning January 1, 2027 and delegated to management the authority to increase the Services Fee up to a maximum total of $12.50 million.

Other than the foregoing, the material terms of the Existing Management Services Agreement remain unchanged.

The foregoing description of Amendment No. 1 does not purport to be complete and is qualified in its entirety by reference to the text of Amendment No. 1, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K (this “Current Report”) and is incorporated herein by reference.

Transaction with Conduit Bravo, LLC

On December 12, 2025, Granite Ridge Ventures, LLC, a Delaware limited liability company and wholly owned subsidiary of the Company (“Granite Ridge Ventures”), entered into a power capacity commitment arrangement with Conduit Bravo LLC, a Delaware limited liability company (“Conduit Bravo”). Conduit Bravo and its parent, Conduit Power, LLC, are portfolio companies of funds managed by affiliates of Grey Rock Investment Partners. A third party entered into a transaction with Conduit Bravo on substantially similar terms and at a substantially similar time to this transaction.

The transaction is documented under an ISDA 2002 Master Agreement (including the Schedule thereto), a Transaction Confirmation, an Omnibus Agreement and related documents (collectively, the “Transaction Documents”).

The foregoing description of the Transaction Documents does not purport to be complete and is qualified in its entirety by reference to the full text of the Transaction Documents, copies of which will be filed as exhibits to the Company’s Annual Report on Form 10-K for the year ending December 31, 2025.

Item 9.01    Financial Statements and Exhibits.

(d)Exhibits.

Exhibit No.						Description
10.1*						Amendment No. 1 to Management Services Agreement, dated as of December 10, 2025, by and between Granite Ridge Resources, Inc., and Grey Rock Administration, LLC.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

*Filed herewith

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

						GRANITE RIDGE RESOURCES, INC.
Date: December 16, 2025			By:			/s/ Tyler Farquharson
						Name:			Tyler Farquharson
						Title:			President and Chief Executive Officer

FAQ

What management agreement did Granite Ridge Resources (GRNT) amend in this 8-K?

Granite Ridge Resources, Inc. amended its existing Management Services Agreement dated October 24, 2022, between the company and Grey Rock Administration, LLC, through Amendment No. 1 signed on December 10, 2025.

How did Granite Ridge Resources (GRNT) change the services fee in the amended agreement?

Under Amendment No. 1, the Services Fee increases from $10.0 million to $11.75 million, with CPI-based annual adjustments beginning January 1, 2027 and authority for management to raise it up to a maximum total of $12.50 million.

How long is the amended management services agreement for Granite Ridge (GRNT) now in effect?

The amendment extends the agreement’s Initial Term from April 30, 2028 to April 30, 2031, while leaving other material terms of the existing agreement unchanged.

What new power capacity commitment did Granite Ridge Resources (GRNT) enter into?

Wholly owned subsidiary Granite Ridge Ventures, LLC entered into a power capacity commitment arrangement with Conduit Bravo LLC on December 12, 2025, documented under an ISDA 2002 Master Agreement, a Transaction Confirmation, an Omnibus Agreement and related documents.

What is the relationship between Conduit Bravo and Grey Rock in Granite Ridge’s (GRNT) new transaction?

The filing states that Conduit Bravo LLC and its parent, Conduit Power, LLC, are portfolio companies of funds managed by affiliates of Grey Rock Investment Partners, indicating an affiliation with the broader Grey Rock group.

Where can investors find the full text of Granite Ridge’s Amendment No. 1 and power transaction documents?

The company filed Amendment No. 1 as Exhibit 10.1 to this report and states that the full Transaction Documents for the power capacity commitment will be filed as exhibits to its Annual Report on Form 10-K for the year ending December 31, 2025.