Granite Ridge Resources Inc

For the period ended Dec 31, 2023. Filed Mar 8, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 8, 2024

GRNT$5.67+7.2%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

	Year Ended December 31,
(in thousands, except per share data)	2023	2022	2021
Revenues:
Oil and natural gas sales	$394,069	$497,417	$290,193
Operating costs and expenses:
Lease operating expenses	60,521	44,678	26,333
Production and ad valorem taxes	27,707	30,619	18,066
Depletion and accretion expense	160,662	105,752	94,661
Other	176	—	—
Impairments of long-lived assets	26,496	—	—
General and administrative (including non-cash stock-based compensation of $2,162 for the year ended December 31, 2023)	27,920	14,223	10,179
Gain on disposal of oil and natural gas properties	—	—	(2,279)
Total operating costs and expenses	303,482	195,272	146,960
Net operating income	90,587	302,145	143,233
Other income (expense):
Gain (loss) on derivatives - commodity derivatives	25,544	(25,324)	(32,389)
Interest expense	(5,315)	(1,989)	(2,385)
Gain (loss) on derivatives - common stock warrants	(5,742)	362	—
Gain on equity investments	508	—	—
Total other income (expense)	14,995	(26,951)	(34,774)
Income before income taxes	105,582	275,194	108,459
Income tax expense	24,483	12,850	—
Net income	$81,099	$262,344	$108,459
Net income per share:
Basic	$0.61	$1.97	$0.82
Diluted	$0.61	$1.97	$0.82
Weighted-average number of shares outstanding:
Basic	133,093	132,923	132,923
Diluted	133,109	133,074	132,923

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.