Granite Ridge Resources, Inc.
5.22+0.05 (+0.97%)
Oct 29, 4:00:02 PM EDT · NYSE · GRNT · USD
Key Stats
Market Cap
685.11MP/E (TTM)
20.88Basic EPS (TTM)
0.25Dividend Yield
0.09%Recent Filings
10-Q
Q2 FY2025 results
Granite Ridge Resources posted solid Q2 results, with oil and natural gas sales climbing 20% year-over-year to $109.2M, fueled by 46% higher oil production despite softer prices. Net income surged to $25.1M from $5.1M last year, boosted by $23.9M in derivative gains, while operating income dipped slightly to $20.7M amid rising lease costs from new wells. Cash from operations hit $154.1M year-to-date, funding $164.5M in development and $44.9M in acquisitions across Permian and Appalachian basins. Debt stands at $275M under a revolver expanded to $375M in April, leaving $99.7M available; free cash flow wasn't disclosed in the 10-Q. Production volumes doubled in key areas. Tariffs on imports could hike costs and pressure oil prices.
8-K
Q2 production surges 37%
Granite Ridge Resources boosted Q2 2025 production 37% year-over-year to 31,576 Boe per day, with oil up 46%, driving net income to $25.1 million and Adjusted EBITDAX to $75.4 million. The company raised full-year guidance to 31,000–33,000 Boe per day and $400–$420 million in capex, fueled by Permian outperformance and $120 million in acquisitions adding 74 net locations. Tyler Farquharson now leads as CEO. Production growth accelerates cash flows.
8-K
CEO transition at Granite Ridge
Granite Ridge Resources announced a swift CEO transition on June 11, 2025, with Luke Brandenberg stepping down as President and CEO, while Tyler Farquharson, former CFO with 19 years in oil and gas finance, was promoted to the role effective June 12. Kim Weimer, with over 20 years in energy accounting, stepped up as Interim CFO and Chief Accounting Officer. Farquharson receives a $500,000 base salary plus 515,464 performance stock units tied to stock prices above $7.00 through 2032 and 171,821 restricted shares vesting in 2030; Weimer gets 128,866 PSUs and 42,955 restricted shares under similar terms. The board reaffirms 2025 guidance, signaling operational stability amid the change. Leadership shifts carry execution risks in volatile energy markets.
8-K
Annual meeting elects directors
Granite Ridge Resources elected Griffin Perry and Amanda Coussens as Class III directors at its May 23, 2025, annual meeting, with terms ending in 2028. Perry garnered 91 million votes for amid 16 million withheld, while Coussens secured 105 million for with just 2 million withheld. Shareholders also ratified Forvis Mazars LLP as auditors for 2025, passing overwhelmingly with 112 million in favor. Strong turnout signals board stability.
8-K
Q1 production surges 23%
Granite Ridge Resources boosted Q1 2025 production 23% to 29,245 Boe per day, with oil up 39% to 14,752 Bbls daily, driving $122.9 million in sales and $91.4 million Adjusted EBITDAX despite lower oil prices. The company invested $105.8 million in development and acquisitions, adding 12 net undeveloped locations, while maintaining 0.7x net debt leverage and declaring a $0.11 per share dividend. Guidance holds steady at 28,000-30,000 Boe per day. Strong hedging covers 75% of output through 2026.
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