Granite Ridge Resources Inc
For the period ended Jun 30, 2024. Filed Aug 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 8, 2024
GRNT$5.67+7.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (in thousands, except per share data) | 2024 | 2023 | 2024 | 2023 |
| Revenues: | ||||
| Oil and natural gas sales | $90,652 | $87,557 | $179,648 | $178,867 |
| Operating costs and expenses: | ||||
| Lease operating expenses | 13,669 | 14,406 | 29,148 | 28,178 |
| Production and ad valorem taxes | 6,881 | 6,303 | 12,630 | 12,020 |
| Depletion and accretion expense | 41,592 | 34,969 | 82,533 | 68,821 |
| Impairments of unproved properties | — | — | 732 | — |
| General and administrative (including non-cash stock-based compensation of $583 and $1,095 for the three and six months ended June 30, 2024) | 6,623 | 8,011 | 13,115 | 16,590 |
| Total operating costs and expenses | 68,765 | 63,689 | 138,158 | 125,609 |
| Net operating income | 21,887 | 23,868 | 41,490 | 53,258 |
| Other income (expense): | ||||
| Gain (loss) on derivatives - commodity derivatives | (785) | 1,221 | (3,946) | 14,544 |
| Interest expense | (5,817) | (1,211) | (8,977) | (1,550) |
| Loss on derivatives - common stock warrants | — | (11,012) | — | (5,734) |
| Loss on equity investments | (8,774) | — | (995) | — |
| Dividend income | 269 | — | 269 | — |
| Other | (1) | — | 1 | — |
| Total other income (expense) | (15,108) | (11,002) | (13,648) | 7,260 |
| Income before income taxes | 6,779 | 12,866 | 27,842 | 60,518 |
| Income tax expense | 1,678 | 4,129 | 6,515 | 14,915 |
| Net income | $5,101 | $8,737 | $21,327 | $45,603 |
| Net income per share: | ||||
| Basic | $0.04 | $0.07 | $0.16 | $0.34 |
| Diluted | $0.04 | $0.07 | $0.16 | $0.34 |
| Weighted-average number of shares outstanding: | ||||
| Basic | 130,204 | 132,866 | 130,170 | 132,933 |
| Diluted | 130,251 | 132,880 | 130,207 | 132,941 |
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