Granite Ridge Resources Reports Strong Q1 2025 Results

Granite Ridge Resources, Inc. ( (GRNT) ) has released its Q1 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 traditional non-operated assets across six prolific unconventional basins in the United States.

In its first quarter of 2025, Granite Ridge Resources reported a 23% increase in daily production, reaching 29,245 barrels of oil equivalent per day. The company declared a quarterly cash dividend of $0.11 per share and reported a net income of $9.8 million, or $0.07 per diluted share. Adjusted net income was significantly higher at $28.9 million, or $0.22 per diluted share.

Key financial highlights include generating $91.4 million in Adjusted EBITDAX and investing $71.4 million in development capital expenditures. The company also invested $34.4 million in acquisitions, enhancing its drilling opportunities. Granite Ridge’s production volumes saw a notable increase, with oil production up by 39% and natural gas production up by 10% compared to the previous year.

Granite Ridge’s strategic focus remains on controlled investments in high-value drilling opportunities, particularly in the Permian Basin, while maintaining low leverage and a robust hedge book. The company is well-positioned to navigate market volatility and capitalize on opportunities, with a strong emphasis on disciplined capital allocation.

Looking ahead, Granite Ridge Resources is poised to continue its growth trajectory, supported by its diversified asset base and strategic initiatives. The company’s management remains committed to delivering substantial long-term value for shareholders, with a focus on maintaining financial stability and operational efficiency.