Granite Ridge Resources Q4 production up 45% YoY, reports net income $56.7M; 2023 dividend $0.11/sh

Granite Ridge Resources, Inc.

Q4 production 22,031 Boe/d (52% oil), up 45% YoY.
Net income $56.7M ($0.43/sh); adjusted net income $50.7M ($0.38/sh).
Adjusted EBITDAX $83.2M; liquidity $200.8M including $50.8M cash at year-end.
2023 quarterly dividend $0.11/sh; capex $260-$270M includes $46M acquisitions.
Expecting 9% production growth in 2023 vs 2022 via 18-20 net new wells.

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 0.9

Granite Ridge Resources, Inc. updated its 2023 guidance (initiated).

Period: 2023
Guidance: initiated
Result: guidance update

Exact text from the filing

2023 Outlook ● Anticipate paying a quarterly dividend of $0.11 per share for each quarter of 2023. ● Planning $260 million to $270 million of capital expenditures, including $46 million of identified acquisitions.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Granite Ridge Resources, Inc. reported Fourth Quarter 2022 results: net income $56.7 million, EPS $0.43 per share.

Period: Fourth Quarter 2022
Net income: $56.7 million
EPS: $0.43 per share
Result: reported results

Exact text from the filing

● Reported net income of $56.7 million, or $0.43 per share.

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Granite Ridge Resources, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-004732

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