Granite Ridge Resources, Inc. announced that affiliates of Grey Rock Investment Partners distributed 14,000,000 shares to limited partners on August 19, 2026, reducing Grey Rock’s beneficial ownership to approximately 39%. Consequently, the company ceased being a “controlled company” under NYSE listing standards and began transitioning to a non-controlled governance structure. The Board expanded from seven to nine directors, appointing independent members John Cocke and Jonathan Adams effective August 19, 2026. Each new director received grants of 19,305 shares and 5,315 restricted shares vesting on January 2, 2027. The company operates in the energy sector, focusing on unconventional oil and gas assets through operated partnerships.

Granite Ridge Resources reported second quarter 2026 net income of $30.0 million ($0.23 per diluted share), up from $25.1 million in the prior year period, driven by higher oil prices averaging $93.93 per barrel. Daily production grew 1% to 32,044 Boe with 7.2 net wells turned in-line and total capital expenditures of $95.2 million. The Board declared a regular quarterly cash dividend of $0.11 per share, payable September 14, 2026 to shareholders of record as of August 28, 2026. Additionally, majority owner Grey Rock Investment Partners announced an in-kind distribution of shares to its limited partners, which could trigger a transition to non-controlled company governance under NYSE standards if ownership falls below 50%. Granite Ridge Resources is an independent oil and gas exploration and production company operating across six U.S. unconventional basins.