Loading...
Granite Ridge Q1 2025 Earnings Report
Granite Ridge Resources, Inc. reported its financial and operating results for the first quarter of 2025.
Key Takeaways
Granite Ridge Resources, Inc. delivered strong first-quarter results, exceeding internal forecasts with a 23% year-over-year daily production growth and generating $91.4 million in Adjusted EBITDAX. The company maintained low leverage and increased its borrowing base, positioning itself for continued growth and capital deployment.
Daily production grew 23% year-over-year to 29,245 Boe per day, with oil comprising 50% of the total.
Adjusted EBITDAX reached $91.4 million, surpassing internal forecasts.
The company invested $71.4 million in development capital and $34.4 million in acquisition capital, placing 13.7 net wells online.
Net Debt to Trailing Twelve Months Adjusted EBITDAX was maintained at 0.7x, and the borrowing base was increased to $375.0 million, enhancing liquidity.
Forward Guidance
Granite Ridge Resources, Inc. provided unchanged operational and financial guidance for 2025, emphasizing continued production growth, disciplined capital allocation, and strong cash flow generation.
Positive Outlook
- Annual production guidance of 28,000-30,000 Boe per day indicates continued growth.
- Oil as a percentage of sales volumes is projected to be 51%-53%, maintaining a strong oil weighting.
- Total capital expenditures are guided between $300-$320 million, supporting ongoing development.
- Cash general and administrative expense is projected to be $25-$27 million, indicating cost management.
- The company's robust hedge book covering approximately 75% of current production through 2026 provides stability against market volatility.
Challenges Ahead
- Lease operating expenses are guided between $6.25-$7.25 per Boe, which could fluctuate.
- Production and ad valorem taxes are projected at 6%-7% of total sales, representing a significant cost.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...