Granite Ridge Q2 net income falls 91% to $8.7M; production up 13% to 21,557 Boe/d; raises FY guidance

Granite Ridge Resources, Inc.

2023-Q2 EPS reported $0.34 revenue$178,867,000

Net income $8.7M ($0.07/share) vs $93.3M ($0.70/share) in Q2'22; adjusted net income $25.6M ($0.19/share).
Production up 13% to 21,557 Boe/d (48% oil); capital deployed $63.2M; placed 79 gross wells online.
Dividend unchanged at $0.11/share; liquidity $109.2M at quarter end.
Increased 2023 production guidance midpoint to 22,250 Boe/d (13% annual growth); capex raised $5M to $295M.

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 0.95

Granite Ridge Resources, Inc. reported second quarter 2023 results: net income $8.7 million, EPS $0.07 per share. Guidance raised.

Period: second quarter 2023
Net income: $8.7 million
EPS: $0.07 per share
Guidance: raised
Result: reported results

Exact text from the filing

Granite Ridge Resources Inc. (“Granite Ridge” or the “Company”) (NYSE: GRNT) today reported financial and operating results for the second quarter 2023 and provided an updated outlook for 2023.

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Source: SEC EDGAR

accession 0001928446-23-000033

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