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Granite Ridge Resources, Inc. Reports First Quarter 2025 Results and Declares Quarterly Cash Dividend

DALLAS–(BUSINESS WIRE)–Granite Ridge Resources, Inc. (“Granite Ridge” or the “Company”) (NYSE: GRNT) today reported financial and operating results for the first quarter of 2025.


First Quarter 2025 Highlights

  • Grew daily production 23% to 29,245 barrels of oil equivalent (“Boe”) per day (50% oil), from 23,842 Boe per day for the first quarter of 2024.
  • Reported net income of $9.8 million, or $0.07 per diluted share, versus $16.2 million, or $0.12 per diluted share, for the prior year period. Adjusted Net Income (non-GAAP) totaled $28.9 million, or $0.22 Adjusted Earnings Per Diluted Share (non-GAAP).
  • Generated $91.4 million of Adjusted EBITDAX (non-GAAP).
  • Invested $71.4 million in development capital expenditures and $34.4 million in acquisition capital to capture high quality drilling opportunities.
  • Placed 13.7 net wells online.
  • Declared dividend of $0.11 per share of common stock.
  • Maintained Net Debt to Trailing Twelve Months Adjusted EBITDAX (non-GAAP) of 0.7x, and subsequent to quarter end, Granite Ridge and its lenders agreed to increase the Company’s borrowing base to $375.0 million, resulting in total pro forma liquidity of $140.8 million at March 31, 2025.
  • Subsequent to quarter end, the Company’s Board of Directors declared a regular quarterly dividend of $0.11 per share payable on June 13, 2025 to shareholders of record as of May 30, 2025. Future declarations of dividends are subject to approval by the Board of Directors.

See “Supplemental Non-GAAP Financial Measures” below for descriptions of the above non-GAAP measures as well as a reconciliation of these measures to the associated GAAP (as defined herein) measures.

Luke Brandenberg, President and CEO of Granite Ridge, commented, “Our first quarter results highlight the quality of our asset base, the consistency of our execution, and the advantages of our diversified, capital-efficient model. We achieved 23% year-over-year daily production growth and generated $91 million in Adjusted EBITDAX, exceeding our internal forecasts. This success was primarily driven by strong new well performance and favorable timing across multiple basins.

We continue to realize the benefits of our Operated Partnership program, which is currently focused on controlled investments in high-value drilling opportunities in the Permian Basin. This initiative enhances our flexibility and visibility around capital deployment. Concurrently, we continue to selectively allocate capital across our Traditional Non-Op portfolio, positioning Granite Ridge to drive cash flow, support our dividend, and pursue accretive acquisitions.

Granite Ridge is intentionally positioned to navigate market volatility. With low leverage and a robust hedge book covering approximately 75% of current our production through 2026, we are well-prepared to capitalize on opportunities. Our exposure to some of the most promising drilling activities in the Lower 48 further strengthens our position. We remain disciplined in our capital allocation, ready to swiftly reduce or defer capital expenditures if market conditions soften, ensuring substantial long-term value for our shareholders.”

Financial Results

Oil and natural gas sales for the first quarter of 2025 were $122.9 million. Net income was $9.8 million, or $0.07 per diluted share. Excluding non-cash and special items, Adjusted Net Income (non-GAAP) was $28.9 million, or $0.22 per diluted share.

Adjusted EBITDAX (non-GAAP) for the first quarter of 2025 totaled $91.4 million, compared to $64.5 million for the first quarter of 2024. Cash flow from operating activities was $76.1 million, including $10.6 million in working capital changes. Operating Cash Flow Before Working Capital Changes (non-GAAP) was $86.7 million.

Production Results

First quarter 2025 oil production volumes totaled 14,752 barrels (“Bbls”) per day, a 39% increase from the first quarter of 2024. Natural gas production for the first quarter of 2025 totaled 86,960 thousand cubic feet of natural gas (“Mcf”) per day, a 10% increase from the first quarter of 2024. The Company’s daily production for the first quarter of 2025 grew 23% from the first quarter of the prior year to 29,245 Boe per day.

Oil, Natural Gas and Related Product Sales

The Company’s average realized price for oil and natural gas for the first quarter of 2025, excluding the effect of commodity derivatives, was $69.18 per Bbl and $3.97 per Mcf, respectively, compared to $78.17 per Bbl and $1.84 per Mcf realized in the first quarter of 2024.

Operating Costs

Lease operating expenses were $16.2 million in the first quarter of 2025, or $6.17 per Boe, 13% lower on a per unit basis compared to the first quarter of 2024 as a result of recent development activity with lower per unit costs. Production and ad valorem taxes were $8.4 million for the quarter, or 6.8% of oil and natural gas sales. During the quarter, general and administrative expenses totaled $7.5 million, or $2.84 per Boe, inclusive of $0.7 million of non-cash stock-based compensation.

Capital Expenditures and Operational Activity

Capital expenditures for the quarter were $105.8 million comprised of $71.4 million of development capital and $34.4 million of property acquisition costs. The Company closed ten acquisitions in the Delaware and Utica Basins, adding an aggregate inventory of 12.0 net undeveloped locations.

The table below provides the costs incurred for oil and natural gas producing activities for the periods indicated:

 

Three Months Ended March 31,

(in thousands)

2025

 

2024

Property acquisition costs:

 

 

 

Proved

$

13,341

 

$

1,147

Unproved

 

21,021

 

 

1,481

Development costs

 

71,402

 

 

62,639

Total costs incurred for oil and natural gas properties

$

105,764

 

$

65,267

The Company had 13.7 net wells turned in-line (“TIL”) during the first quarter 2025, compared to 5.1 net wells TIL in the first quarter of 2024. Granite Ridge saw strong well performance across multiple basins, highlighted by robust initial production from recently TIL wells in the Permian Basin.

The table below provides a summary of gross and net wells completed and TIL for the first quarter 2025:

 

Three Months Ended March 31, 2025

 

Gross

 

Net

Permian

44

 

12.6

Eagle Ford

1

 

0.0

Bakken

5

 

0.1

Haynesville

0

 

0.0

DJ

61

 

0.4

Appalachian

21

 

0.6

Total

132

 

13.7

On March 31, 2025, the Company had 126 gross (15.1 net) wells in process.

Liquidity and Capital Resources

As of March 31, 2025, Granite Ridge had $250.0 million of debt outstanding under its Credit Agreement and $90.8 million of liquidity, consisting of $74.7 million of committed borrowing availability and $16.1 million of cash on hand. On April 29th the Company and its lenders entered into the Fifth Amendment to the Credit Agreement, which amended the Credit Agreement to, among other things, increase the borrowing base and aggregate elected commitments from $325.0 million to $375.0 million. On an as-adjusted basis after giving effect to the Fifth Amendment, as of March 31, 2025, Granite Ridge would have had $140.8 million of liquidity.

Commodity Derivatives Update

The Company’s commodity derivatives strategy is intended to manage its exposure to commodity price fluctuations. Please see the table under “Derivatives Information” below for detailed information about Granite Ridge’s current derivatives positions.

2025 Guidance

The following table summarizes the Company’s operational and financial guidance for 2025, which is unchanged.

Annual production (Boe per day)

28,000 – 30,000

Oil as a % of sales volumes

51% – 53%

Total capital expenditures ($ in millions)

$300 – $320

Lease operating expenses (per Boe)

$6.25 – $7.25

Production and ad valorem taxes (as a % of total sales)

6% – 7%

Cash general and administrative expense ($ in millions)

$25 – $27

Conference Call

Granite Ridge will host a conference call on May 9, 2025, at 10:00 AM Central Time (11:00 AM Eastern Time) to discuss its first quarter 2025 results. A brief Q&A session will immediately follow the discussion. The telephone number and passcode to access the conference call are provided below:

Dial-in: (888) 660-6093

International dial-in: (929) 203-0844

Participant Passcode: 4127559

To access the live webcast visit Granite Ridge’s website at www.graniteridge.com. Alternatively, an audio replay will be available through May 23, 2025. To access the audio replay dial (800) 770-2030 and enter confirmation code 4127559.

Upcoming Investor Events

Granite Ridge management will also be participating in the following upcoming investor events:

  • Louisiana Energy Conference (New Orleans, LA) – May 28, 2025.
  • Stifel 2025 Cross Sector 1×1 Conference (Boston, MA) – June 3-4, 2025.
  • Sidoti Small-Cap Virtual Conference (Virtual) – June 11-12, 2025.

Any investor presentations to be used for such events will be posted prior to the respective event on Granite Ridge’s website. Information on Granite Ridge’s website does not constitute a portion of, and is not incorporated by reference into this press release.

About Granite Ridge

Granite Ridge is a scaled energy company which aims to provide shareholders with exposure similar to energy private equity through operated partnerships and traditional non-operated assets. We own assets in six prolific unconventional basins across the United States. We aim to deliver a diversified portfolio with best-in-class full cycle returns by investing in a large number of high-graded deals developed by proven public and private operators. We focus on success as measured by total shareholder returns, which we seek to balance with a low leverage profile. For more information, visit Granite Ridge’s website at www.graniteridge.com.

Forward-Looking Statements and Cautionary Statements

This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this release regarding, without limitation, Granite Ridge’s 2025 outlook, financial position, operating and financial performance, business strategy, plans and objectives of management for future operations, industry conditions, indebtedness covenant compliance, capital expenditures, production and cash flows are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future production and sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.

Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond Granite Ridge’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in Granite Ridge’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans, changes in current or future commodity prices and interest rates, supply chain disruptions, infrastructure constraints and related factors affecting our properties, ability to acquire additional development opportunities and potential or pending acquisition transactions, as well as the effects of such acquisitions on the Company’s cash position and levels of indebtedness, changes in reserves estimates or the value thereof, operational risks including, but not limited to, the pace of drilling and completions activity on our properties, changes in the markets in which Granite Ridge competes, geopolitical risk and changes in applicable laws, legislation, or regulations, including those relating to environmental matters, cyber-related risks, the fact that reserve estimates depend on many assumptions that may turn out to be inaccurate and that any material inaccuracies in reserve estimates or underlying assumptions will materially affect the quantities and present value of Granite Ridge’s reserves, the outcome of any known and unknown litigation and regulatory proceedings, limited liquidity and trading of Granite Ridge’s securities, acts of war, terrorism or uncertainty regarding the effects and duration of global hostilities, including the Israel-Hamas conflict, the Russia-Ukraine war, continued instability in the Middle East, and any associated armed conflicts or related sanctions which may disrupt commodity prices and create instability in the financial markets, and market conditions and global, regulatory, technical, and economic factors beyond Granite Ridge’s control, including the potential adverse effects of world health events, affecting capital markets, general economic conditions, global supply chains, uncertainties with respect to trade policies (including the imposition of tariffs) and Granite Ridge’s business and operations, increasing regulatory and investor emphasis on, and attention to, environmental, social and governance matters, our ability to establish and maintain effective internal control over financial reporting, and the other risks described under the heading “Item 1A. Risk Factors” in Granite Ridge’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission (“SEC”), as updated by any subsequent Quarterly Reports on Form 10-Q that Granite Ridge files with the SEC.

Granite Ridge has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond Granite Ridge’s control. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Granite Ridge does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.

Use of Non-GAAP Financial Measures

To supplement the presentation of the Company’s financial results prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), this press release contains certain financial measures that are not prepared in accordance with GAAP, including Adjusted Net Income, Adjusted Earnings Per Share, Adjusted EBITDAX, Trailing Twelve Months Adjusted EBITDAX, Operating Cash Flow Before Working Capital Changes, and Net Debt.

See “Supplemental Non-GAAP Financial Measures” below for a description and reconciliation of each non-GAAP measure presented in this press release to the most directly comparable financial measure calculated in accordance with GAAP.

Granite Ridge Resources Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

 

(in thousands, except par value and share data)

March 31, 2025

 

December 31, 2024

ASSETS

 

 

 

Current assets:

 

 

 

Cash

$

16,108

 

 

$

9,419

 

Revenue receivable

 

80,745

 

 

 

69,692

 

Advances to operators

 

4,350

 

 

 

19,959

 

Prepaid and other current assets

 

4,724

 

 

 

3,831

 

Derivative assets – commodity derivatives

 

621

 

 

 

537

 

Equity investments

 

21,812

 

 

 

31,783

 

Total current assets

 

128,360

 

 

 

135,221

 

Property and equipment:

 

 

 

Oil and gas properties, successful efforts method

 

1,646,260

 

 

 

1,540,021

 

Accumulated depletion

 

(691,277

)

 

 

(643,051

)

Total property and equipment, net

 

954,983

 

 

 

896,970

 

Long-term assets:

 

 

 

Derivative assets – commodity derivatives

 

183

 

 

 

 

Other long-term assets

 

3,910

 

 

 

4,288

 

Total long-term assets

 

4,093

 

 

 

4,288

 

Total assets

$

1,087,436

 

 

$

1,036,479

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

Current liabilities:

 

 

 

Accounts payable and accrued liabilities

$

90,771

 

 

$

99,440

 

Other liabilities

 

891

 

 

 

546

 

Derivative liabilities – commodity derivatives

 

15,569

 

 

 

1,822

 

Total current liabilities

 

107,231

 

 

 

101,808

 

Long-term liabilities:

 

 

 

Long-term debt

 

250,000

 

 

 

205,000

 

Derivative liabilities – commodity derivatives

 

4,943

 

 

 

3,679

 

Asset retirement obligations

 

11,033

 

 

 

10,693

 

Deferred tax liability

 

82,816

 

 

 

79,946

 

Total long-term liabilities

 

348,792

 

 

 

299,318

 

Total liabilities

 

456,023

 

 

 

401,126

 

Stockholders’ Equity:

 

 

 

Common stock, $0.0001 par value, 431,000,000 shares authorized, 136,824,466 and 136,417,677 issued at March 31, 2025 and December 31, 2024, respectively

 

14

 

 

 

14

 

Additional paid-in capital

 

656,125

 

 

 

655,472

 

Retained earnings

 

11,470

 

 

 

16,047

 

Treasury stock, at cost, 5,686,711 and 5,683,921 shares at March 31, 2025 and December 31, 2024, respectively

 

(36,196

)

 

 

(36,180

)

Total stockholders’ equity

 

631,413

 

 

 

635,353

 

Total liabilities and stockholders’ equity

$

1,087,436

 

 

$

1,036,479

 

Granite Ridge Resources Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

 

 

Three Months Ended March 31,

(in thousands, except per share data)

 

2025

 

 

 

2024

 

Revenues:

 

 

 

Oil and natural gas sales

$

122,931

 

 

$

88,996

 

Operating costs and expenses:

 

 

 

Lease operating expenses

 

16,240

 

 

 

15,479

 

Production and ad valorem taxes

 

8,368

 

 

 

5,749

 

Depletion and accretion expense

 

48,445

 

 

 

40,941

 

Impairments of unproved properties

 

 

 

 

732

 

General and administrative

 

7,463

 

 

 

6,492

 

Other, net

 

(120

)

 

 

 

Total operating costs and expenses

 

80,396

 

 

 

69,393

 

Net operating income

 

42,535

 

 

 

19,603

 

Other income (expense):

 

 

 

Loss on derivatives – commodity derivatives

 

(14,857

)

 

 

(3,161

)

Interest expense, net

 

(5,015

)

 

 

(3,159

)

Gain (loss) on equity investments

 

(9,971

)

 

 

7,779

 

Other income

 

 

 

 

2

 

Total other income (expense)

 

(29,843

)

 

 

1,461

 

Income before income taxes

 

12,692

 

 

 

21,064

 

Income tax expense

 

2,880

 

 

 

4,837

 

Net income

$

9,812

 

 

$

16,227

 

 

 

 

 

Net income per share:

 

 

 

Basic

$

0.07

 

 

$

0.12

 

Diluted

$

0.07

 

 

$

0.12

 

Weighted-average number of shares outstanding:

 

 

 

Basic

 

130,336

 

 

 

130,136

 

Diluted

 

130,401

 

 

 

130,160

 

Granite Ridge Resources Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

 

 

Three Months Ended March 31,

(in thousands)

 

2025

 

 

 

2024

 

Operating activities:

 

 

 

Net income

$

9,812

 

 

$

16,227

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

Depletion and accretion expense

 

48,445

 

 

 

40,941

 

Impairments of unproved properties

 

 

 

 

732

 

Unrealized loss on derivatives – commodity derivatives

 

14,744

 

 

 

5,869

 

Stock-based compensation

 

653

 

 

 

512

 

Amortization of deferred financing costs

 

378

 

 

 

295

 

(Gain) loss on equity investments

 

9,971

 

 

 

(7,779

)

Deferred income taxes

 

2,870

 

 

 

4,820

 

Other

 

(161

)

 

 

(17

)

Increase (decrease) in cash attributable to changes in operating assets and liabilities:

 

 

 

Revenue receivable

 

(11,053

)

 

 

8,103

 

Accounts payable and accrued liabilities

 

1,213

 

 

 

(3,213

)

Other receivable

 

(783

)

 

 

530

 

Prepaid and other current assets

 

(27

)

 

 

(1,551

)

Other payable

 

29

 

 

 

3,187

 

Net cash provided by operating activities

 

76,091

 

 

 

68,656

 

Investing activities:

 

 

 

Capital expenditures for oil and natural gas properties

 

(66,728

)

 

 

(69,660

)

Acquisition of oil and natural gas properties

 

(34,692

)

 

 

(2,627

)

Refund of advances to operators

 

1,303

 

 

 

1,282

 

Proceeds from sale of oil and natural gas properties

 

120

 

 

 

 

Net cash used in investing activities

 

(99,997

)

 

 

(71,005

)

Financing activities:

 

 

 

Proceeds from borrowing on credit facilities

 

45,000

 

 

 

27,500

 

Deferred financing costs

 

 

 

 

(32

)

Purchase of treasury shares

 

(16

)

 

 

(418

)

Payment of dividends

 

(14,389

)

 

 

(14,349

)

Net cash provided by financing activities

 

30,595

 

 

 

12,701

 

 

 

 

 

Net change in cash and restricted cash

 

6,689

 

 

 

10,352

 

Cash and restricted cash at beginning of period

 

9,419

 

 

 

10,730

 

Cash and restricted cash at end of period

$

16,108

 

 

$

21,082

 

 

 

 

 

Supplemental disclosure of non-cash investing activities:

 

 

 

Change in accrued capital expenditures included in accounts payable and accrued liabilities

$

14,118

 

 

$

9,168

 

Advances to operators applied to development of oil and natural gas properties

$

18,200

 

 

$

23,294

 

Cash and restricted cash:

 

 

 

Cash

$

16,108

 

 

$

20,782

 

Restricted cash included in other long-term assets

 

 

 

 

300

 

Cash and restricted cash

$

16,108

 

 

$

21,082

 

Granite Ridge Resources Inc.

Summary Production and Price Data

 

The following table sets forth summary information concerning production and operating data for the periods indicated:

 

 

Three months ended March 31,

 

 

2025

 

 

 

2024

Net Sales (in thousands):

 

 

 

Oil sales

$

91,847

 

 

$

75,766

Natural gas and related product sales

 

31,084

 

 

 

13,230

Total revenues

 

122,931

 

 

 

88,996

 

 

 

 

Net Production:

 

 

 

Oil (MBbl)

 

1,328

 

 

 

969

Natural gas (MMcf)

 

7,826

 

 

 

7,203

Total (MBoe)(1)

 

2,632

 

 

 

2,170

Average Daily Production:

 

 

 

Oil (Bbl)

 

14,752

 

 

 

10,650

Natural gas (Mcf)

 

86,960

 

 

 

79,151

Total (Boe)(1)

 

29,245

 

 

 

23,842

 

 

 

 

Average Sales Prices:

 

 

 

Oil (per Bbl)

$

69.18

 

 

$

78.17

Effect of gain on settled oil derivatives on average price (per Bbl)

 

(0.05

)

 

 

0.10

Oil net of settled oil derivatives (per Bbl)(2)

 

69.13

 

 

 

78.27

 

 

 

 

Natural gas sales (per Mcf)

$

3.97

 

 

$

1.84

Effect of gain on settled natural gas derivatives on average price (per Mcf)

 

(0.01

)

 

 

0.36

Natural gas sales net of settled natural gas derivatives (per Mcf)(2)

 

3.96

 

 

 

2.20

 

 

 

 

Realized price on a Boe basis excluding settled commodity derivatives

$

46.71

 

 

$

41.02

Effect of gain on settled commodity derivatives on average price (per Boe)

 

(0.04

)

 

 

1.25

Realized price on a Boe basis including settled commodity derivatives(2)

 

46.67

 

 

 

42.27

 

 

 

 

Operating Expenses (in thousands):

 

 

 

Lease operating expenses

$

16,240

 

 

$

15,479

Production and ad valorem taxes

 

8,368

 

 

 

5,749

Depletion and accretion expense

 

48,445

 

 

 

40,941

General and administrative

 

7,463

 

 

 

6,492

Costs and Expenses (per Boe):

 

 

 

Lease operating expenses

$

6.17

 

 

$

7.13

Production and ad valorem taxes

 

3.18

 

 

 

2.65

Depletion and accretion

 

18.41

 

 

 

18.87

General and administrative

 

2.84

 

 

 

2.99

 

 

 

 

Net Producing Wells at Period-End:

 

211.6

 

 

 

181.3

(1) Natural gas is converted to Boe using the ratio of one barrel of oil to six Mcf of natural gas.

(2) The presentation of realized prices including settled commodity derivatives is a result of including the net cash receipts from (payments on) commodity derivatives to realized pricing. This presentation of average prices with derivatives is a means by which to reflect the actual cash performance of our commodity derivatives for the respective periods and presents oil and natural gas prices with derivatives in a manner consistent with the presentation generally used by the investment community.

Granite Ridge Resources Inc.

Derivatives Information

 

The table below provides data associated with the Company’s current derivatives, for the periods indicated:

 

 

2025

 

2026

 

 

Second

Quarter

 

Third

Quarter

 

Fourth

Quarter

 

Total

 

Total

Collars (oil)

 

 

 

 

 

 

 

 

 

 

Volume (Bbl)

 

 

933,266

 

 

802,210

 

 

698,000

 

 

2,433,476

 

 

2,104,980

Weighted-average floor price ($/Bbl)

 

$

61.84

 

$

61.95

 

$

60.00

 

$

61.35

 

$

60.00

Weighted-average ceiling price ($/Bbl)

 

$

77.52

 

$

78.51

 

$

77.13

 

$

77.73

 

$

70.44

Collars (natural gas)

 

 

 

 

 

 

 

 

 

 

Volume (Mcf)

 

 

1,075,438

 

 

2,441,757

 

 

3,820,615

 

 

7,337,810

 

 

10,506,446

Weighted-average floor price ($/Mcf)

 

$

3.00

 

$

3.00

 

$

3.43

 

$

3.22

 

$

3.48

Weighted-average ceiling price ($/Mcf)

 

$

3.75

 

$

3.75

 

$

4.23

 

$

4.00

 

$

4.25

Swaps (natural gas)

 

 

 

 

 

 

 

 

 

 

Volume (Mcf)

 

 

4,842,520

 

 

2,762,450

 

 

831,350

 

 

8,436,320

 

 

4,351,400

Weighted-average price ($/Mcf)

 

$

3.50

 

$

3.67

 

$

3.67

 

$

3.57

 

$

3.68

Contacts

Investor and Media Contact:
IR@GraniteRidge.com – (214) 396-2850

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