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Granite Ridge Resources(GRNT) - 2023 Q4 - Annual Report
2024-03-08 22:18
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _______ Commission File Number: 001-41537 ___________________________________ GRANITE RIDGE RESOURCES, INC. ( Exact Name of Registrant as Specifie ...
Granite Ridge Resources(GRNT) - 2023 Q3 - Quarterly Report
2023-11-09 21:12
FORM 10-Q Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _______ Commission File Number: 001-41537 GRANITE RIDGE RESOURCES, INC. ( Exact Name of Registrant as Specified in Its Charter ) ________ ...
Granite Ridge Resources(GRNT) - 2023 Q2 - Earnings Call Transcript
2023-08-11 18:09
Financial Data and Key Metrics Changes - The company reported net income of $0.07 per diluted share and adjusted net income of $0.19 per diluted share for the second quarter [25] - Average daily production for the quarter was 21,500 BOE per day, reflecting a 13% increase year-over-year but a 7% decrease quarter-over-quarter [25] - The company increased the low-end of its 2023 production guidance by 500 barrels of oil equivalent per day, raising the midpoint to 22,250 BOE per day, which represents a 13% increase over 2022 [11][19] Business Line Data and Key Metrics Changes - The company completed and placed on production a total of 79 gross, 5.5 net wells, with 90% of that activity occurring in the DJ and Permian basins [26] - The company anticipates placing 19 to 21 net wells on production for the full year, which remains unchanged [26] Market Data and Key Metrics Changes - The company has screened and/or evaluated over 400 deals year-to-date, representing over $10 billion of potential capital opportunities [8] - The company has repurchased a total of 960,000 shares at a cost of $6 million as part of its stock buyback plan [28] Company Strategy and Development Direction - The company is focusing on strategic partnerships to mitigate concentration risk while aiming for higher expected returns [9] - The company is targeting reinvesting nearly all of its free cash flow, aiming for high-single digits to low-double digit year-over-year production growth [35][71] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the second half of 2023, expecting production growth due to stronger well performance in the Haynesville and Permian [11][25] - The company noted that the competitive landscape has intensified, making it challenging to secure deals, but they are seeing an increase in deal flow since going public [73] Other Important Information - The company declared a quarterly cash dividend of $0.11 per share, representing an approximate 6.1% dividend yield [28] - The company ended the second quarter with $55 million drawn on its revolving credit facility, with total liquidity of $109 million [29] Q&A Session Summary Question: Inquiry about M&A and strategic partnerships - Management indicated a preference for smaller, one-off deals rather than larger banker marketing processes, and they are exploring opportunities with private equity firms [33][34] Question: Production growth expectations for 2024 - Management anticipates a high-single digit to low-double digit year-over-year production growth, with a focus on reinvesting free cash flow [35] Question: Dividend policy and future increases - Management has not had significant discussions about increasing the dividend, focusing instead on deal flow and capital allocation [46][72] Question: Impact of commodity prices on deal flow - Management noted that optimism about prices in the first half may have led to increased deal activity, and they are investing based on strip pricing [65][66] Question: Visibility into operators' plans for 2024 - Management stated they have good visibility for about nine months, with some uncertainty beyond that due to the adaptability of operators [78]
Granite Ridge Resources(GRNT) - 2023 Q2 - Quarterly Report
2023-08-10 20:17
x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _______ Commission File Number: 001-41537 Table of Contents GRANITE RIDGE RESOURCES, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ( Exact Name of Registrant as Specified in Its Charter ) _______________________ ...
Granite Ridge Resources(GRNT) - 2023 Q1 - Quarterly Report
2023-05-11 20:18
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _______ Commission File Number: 001-41537 GRANITE RIDGE RESOURCES, INC. ( Exact Name of Registrant as Specified in Its Charter ) ____________ ...
Granite Ridge Resources(GRNT) - 2022 Q4 - Earnings Call Transcript
2023-03-30 03:25
Granite Ridge Resources, Inc. (NYSE:GRNT) Q4 2022 Earnings Conference Call March 28, 2023 11:00 AM ET Company Participants Wes Harris - Investor Relations Luke Brandenberg - President and Chief Executive Officer Tyler Farquharson - Chief Financial Officer Conference Call Participants Phillips Johnston - Capital One Securities, Inc. Jeff Grampp - Alliance Global Partners Operator Good morning, and welcome, everyone to Granite Ridge Resources Fourth Quarter and Full-Year 2022 Earnings Conference Call. At this ...
Granite Ridge Resources(GRNT) - 2022 Q4 - Earnings Call Presentation
2023-03-30 01:39
INVESTOR PRESENTATION | MARCH 2023 FY'22 RESULTS & FY'23 GUIDANCE 1. $0.08 per common share or $0.11 per common share for the full fourth quarter, prorated to the 10/24/2022 effective date of our business combination. 2. Non-GAAP financial measure, which is defined and reconciled in the Appendix. Results & Guidance Executive Summary Strategy & Execution Appendix 4 1 2 Key Investment Highlights • Conservative leverage – no debt outstanding at 12/31/2022 • Control of capital – elect to participate in drilling ...
Granite Ridge Resources(GRNT) - 2022 Q4 - Annual Report
2023-03-27 21:10
Table of Contents ( Exact Name of Registrant as Specified in Its Charter ) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _______ Commission File Number: 001-41537 GRANITE RIDGE RESOURCES, INC. Delaware (State o ...
Granite Ridge Resources(GRNT) - 2022 Q3 - Earnings Call Transcript
2022-11-15 20:22
Granite Ridge Resources, Inc. (NYSE:GRNT) Q3 2022 Results Conference Call November 14, 2022 11:00 AM ET Company Participants Scott Espenshade - IR Luke Brandenberg - President and CEO Tyler Farquharson - CFO Operator Good morning, and welcome to Granite Ridge Resources Third Quarter 2022 Results Conference Call. All participants are in a listen only mode. As a reminder, this conference call is being recorded. I would now like to turn the call over to Scott Espenshade, Investor Relations. Please go ahead. Sc ...