Granite Ridge Q4 production up 18% to 26,034 Boe/d; net income $17.5M, dividend $0.11; sells Permian assets to Vital

Granite Ridge Resources, Inc.

Q4 production 26,034 Boe/d (+18% YoY, 47% oil); net income $17.5M ($0.13/sh); adjusted net income $26.4M ($0.20/sh).
Generated $81.8M Adjusted EBITDAX; deployed $78.4M capital; placed 80 gross (4.60 net) wells online.
Declared $0.11 per share dividend; ended 2023 with $140.1M liquidity.
Completed sale of certain Permian Basin assets to Vital Energy (NYSE: VTLE).
Provided initial 2024 production and capex guidance; details in supplemental tables.

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 0.7

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

Period: full-year 2023
Guidance: initiated
Result: reported results

Exact text from the filing

today reported financial and operating results for the fourth quarter and full-year 2023 and provided initial guidance for 2024

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Granite Ridge Resources, Inc. reported Fourth Quarter 2023 results: net income $17.5 million, EPS $0.13 per share. Guidance initiated.

Period: Fourth Quarter 2023
Net income: $17.5 million
EPS: $0.13 per share
Guidance: initiated
Result: reported results

Exact text from the filing

• Reported net income of $17.5 million, or $0.13 per share

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Granite Ridge Resources, Inc. filing history →

Source: SEC EDGAR

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