Granite Ridge Q1 net income $36.9M, production up 46% to 23,167 Boe/d; raises 2023 guidance

Granite Ridge Resources, Inc.

2023-Q1 EPS reported $0.28 revenue$91,310,000

Net income $36.9M ($0.28 per share) vs $32.4M ($0.24) a year ago; adjusted net income $27.4M ($0.21 per share).
Production grew 46% to 23,167 Boe/d (46% oil) from 15,826 Boe/d in Q1 2022.
Adjusted EBITDAX $70.7M; deployed $126.2M capital including $16.7M opportunity capture.
Declared $0.11 dividend per share; quarter-end liquidity $135.9M.
2023 guidance: midpoint production raised to 22,000 Boe/d (11% YoY growth); capex midpoint up $25M to $275M-$305M.

item 2.02 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 full year 2023 guidance (raised).

Period: full year 2023
Guidance: raised
Result: guidance update

Exact text from the filing

Increased full year 2023 midpoint production to 22,000 Boe per day; now expecting to generate 11% midpoint annual production volume growth as compared to the full year 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Granite Ridge Resources, Inc. reported the quarter ended March 31, 2023 results: net income $36.9 million, EPS $0.28 per share.

Period: the quarter ended March 31, 2023
Net income: $36.9 million
EPS: $0.28 per share
Result: reported results

Exact text from the filing

Reported net income of $36.9 million, or $0.28 per share, versus $32.4 million, or $0.24 per share, for the prior year period.

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Granite Ridge Resources, Inc. filing history →

Source: SEC EDGAR

accession 0001928446-23-000013

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