Granite Ridge Resources, Inc. ( (GRNT) ) has released its Q4 earnings. Here is a breakdown of the information Granite Ridge Resources, Inc. presented to its investors.
Granite Ridge Resources, Inc. is a scaled energy company operating in the oil and gas sector, focusing on providing shareholders with exposure similar to energy private equity through operated partnerships and non-operated assets across six prolific unconventional basins in the United States.
Granite Ridge Resources reported its fourth-quarter and full-year 2024 results, highlighting a 7% increase in total production and a 20% rise in oil production. Despite these operational successes, the company faced a net loss of $11.6 million for the quarter, though it achieved an adjusted net income of $22.7 million.
Key financial metrics for the quarter included an adjusted EBITDAX of $82.6 million and a capital investment of $93.3 million, which facilitated the online placement of 86 gross wells. The company declared a dividend of $0.11 per share and maintained a liquidity position of $129.1 million with a net debt to adjusted EBITDAX ratio of 0.7x.
Looking ahead, Granite Ridge projects a 16% increase in production for 2025, underscoring its commitment to sustainable growth and shareholder returns. With a robust portfolio and strategic partnerships, the company is well-positioned to capitalize on future opportunities in the energy market.