Headquartered in Dallas, TX Fiscal year ends December NYSE: GRNT graniteridge.com
Granite Ridge Resources is an oil and natural gas exploration and production company. It aims to give public shareholders exposure similar to energy private equity through two channels.
- **Operated partnerships:** Partners such as Admiral Permian and, newly, Arete Creek Resources in the Midland Basin source acreage. Granite Ridge provides the majority of the capital and controls development timing.
- **Non-operated working interests:** These are drilled and operated by public and private operators.
The company holds assets in six unconventional U.S. basins: Permian, Eagle Ford, Bakken, Haynesville, DJ and Appalachian. Revenue comes from oil sales and from natural gas and related product sales. In the third quarter of 2026 the oil mix was about 55%. The company grows inventory through frequent small acquisitions of undeveloped locations and uses commodity derivatives to manage price exposure. It funds operations through a senior secured revolving credit facility and 8.875% senior unsecured notes. It returns capital through a quarterly dividend and a newly authorized share repurchase program, while seeking to maintain low leverage. Updated
Record adjusted EBITDAX of $107.3 million covers the $0.11 quarterly dividend with room to spare, with management pointing to 2027 hedge roll-offs and higher oil weighting. The board also authorized a $35 million buyback through 2027 against a $615 million market cap.
Granite Ridge's CEO says the stock trades below 2.5x expected 2027 cash flow, but the shares have rallied hard since he said it. Debt, rising costs, and missing guidance complicate the bargain…
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Granite Ridge Resources is an oil and natural gas exploration and production company. It aims to give public shareholders exposure similar to energy private equity through two channels. - **Operated partnerships:** Partners such as Admiral Permian and, newly, Arete Creek Resources in the Midland Basin source acreage.
The Wall Street consensus 12-month price target for GRNT is $8.60.
