Granite Ridge sells Permian assets to Vital Energy; reports preliminary Q4 production of 26 Mboe/d

Granite Ridge Resources, Inc.

Closed sale of ~1,658 net acres and 45 gross (9.9 net) wells to Vital Energy on Dec 21, 2023 for stock and convertible preferred.
Preliminary Q4 2023 total production averaged ~26,000 boe/d; oil averaged ~12,000 bbl/d.
Year-end 2023 total proved reserves of 53,472 Mboe (27,317 Mbo oil, 156,928 MMcf gas) per NSAI report.
Repurchased 3.8M shares at avg $6.13 in Q4; $50M buyback program expired Dec 31, 2023.
Q4 2023 weighted-average basic shares: 132.1M; total debt of $110M, cash $10M at Dec 31, 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Granite Ridge Resources, Inc. reported preliminary financial results for fourth-quarter 2023.

Period: fourth-quarter 2023
Result: preliminary results

Exact text from the filing

Granite Ridge Resources, Inc., a Delaware corporation (the “Company”), issued a press release (i) providing select preliminary financial and operating results for the quarter ended December 31, 2023

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Granite Ridge Resources, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-009728

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