Granite Ridge Q3 pro forma net income $66M; declares initial $0.08 dividend

Granite Ridge Resources, Inc.

2023-Q3 EPS reported $1.55 revenue$381,082,000

Pro forma net income $66M, adjusted $48M; Adj EBITDA $99M; free cash flow $25M.
Production 21.2 MBoe/d (+29% YoY); oil 45% of total; 0.5 net wells added.
Initial dividend $0.08/share payable Dec 15 to holders of record Dec 1; prorated after Oct 24 business combination.
New $150M revolving credit facility with $325M borrowing base; no debt outstanding.
Board intends minimum annual dividend of $60M (~$0.45/share, ~5% yield).

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Granite Ridge Resources, Inc. reported the quarter ended September 30, 2022 results: net income $66 million.

Period: the quarter ended September 30, 2022
Net income: $66 million
Result: reported results

Exact text from the filing

Total pro forma net income of $66 million during the third quarter and adjusted pro forma net income (non-GAAP) of $48 million during the third quarter

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Granite Ridge Resources, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-117680

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