Earnings ·
Reports Q3 net loss of $10.1M and declares $0.11 quarterly dividend
GRNTGranite Ridge Resources, Inc.
Granite Ridge Resources reported a third-quarter net loss of $10.1 million, or $0.08 per share, compared to net income of $14.5 million in the prior year period. Adjusted EBITDAX rose 36% to $107.3 million, driven by higher oil prices and a 9% increase in daily production to 34,641 Boe. The company also announced an updated share repurchase program of up to $35.0 million through December 2027. Granite Ridge is an independent energy company focused on unconventional oil and natural gas assets across the United States.