Granite Ridge Resources, Inc.
For the period ended Jun 30, 2025. Filed Aug 7, 2025.
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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, 2025 · Filed Aug 7, 2025
GRNT$6.03+6.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Six Months Ended June 30, | ||
|---|---|---|
| (in thousands) | 2025 | 2024 |
| Operating activities: | ||
| Net income | $34,893 | $21,327 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depletion and accretion expense | 101,857 | 82,533 |
| Impairments of unproved properties | — | 732 |
| Unrealized (gain) loss on derivatives - commodity derivatives | (8,210) | 10,605 |
| Stock-based compensation | 1,048 | 1,095 |
| Amortization of deferred financing costs | 800 | 2,811 |
| Loss on equity investments | 15,766 | 995 |
| Deferred income taxes | 10,275 | 6,403 |
| Other | (258) | (71) |
| Increase (decrease) in cash attributable to changes in operating assets and liabilities: | ||
| Revenue receivable | (6,956) | 5,685 |
| Other receivable | 118 | 530 |
| Accounts payable and accrued liabilities | 3,202 | (2,398) |
| Prepaid and other current assets | 1,497 | (1,294) |
| Other liabilities | 102 | 3,889 |
| Net cash provided by operating activities | 154,134 | 132,842 |
| Investing activities: | ||
| Capital expenditures for oil and natural gas properties | (164,533) | (135,874) |
| Acquisition of oil and natural gas properties | (44,861) | (20,868) |
| Proceeds from the sale of equity investments | 4,991 | — |
| Proceeds from sale of oil and natural gas properties | 175 | 2,881 |
| Refund of advances to operators | 3,695 | 1,282 |
| Net cash used in investing activities | (200,533) | (152,579) |
| Financing activities: | ||
| Proceeds from borrowing on credit facilities | 95,000 | 55,000 |
| Repayments of borrowing on credit facilities | (25,000) | — |
| Deferred financing costs | (449) | (3,004) |
| Purchase of treasury shares | (16) | (418) |
| Payment of dividends | (28,812) | (28,729) |
| Net cash provided by financing activities | 40,723 | 22,849 |
| Net change in cash and restricted cash | (5,676) | 3,112 |
| Cash and restricted cash at beginning of period | 9,419 | 10,730 |
| Cash and restricted cash at end of period | $3,743 | $13,842 |
| Supplemental disclosure of non-cash investing activities: | ||
| Change in accrued capital expenditures included in accounts payable and accrued liabilities | $(7,815) | $9,165 |
| Advances to operators applied to development of oil and natural gas properties | $72,541 | $50,625 |
| Cash and restricted cash: | ||
| Cash | $3,743 | $13,542 |
| Restricted cash included in other long-term assets | — | 300 |
| Cash and restricted cash | $3,743 | $13,842 |
The accompanying notes are an integral part to these condensed consolidated financial statements. T
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