Quarterly ResultAug 6, 2026, 05:33 PM
Granite Ridge Q2 Net Income $29.99M; Sales $149.27M
AI Summary
Granite Ridge Resources reported a net income of $29.996 million for the second quarter of 2026, an increase from $25.081 million in the same period last year, with oil and natural gas sales rising to $149.273 million. However, the company recorded a net loss of $17.035 million for the first six months of 2026, primarily due to significant impairments of unproved oil and gas properties totaling $20.323 million and derivative losses. The company also completed its reincorporation from Delaware to Texas in August 2026.
Key Highlights
- Q2 2026 net income was $29.996 million, up from $25.081 million in Q2 2025.
- Q2 2026 oil and natural gas sales increased to $149.273 million from $109.219 million in Q2 2025.
- Six-month net loss was $17.035 million in 2026, compared to a $34.893 million net income in 2025.
- Six-month oil and natural gas sales rose to $277.537 million from $232.150 million in 2025.
- Unproved oil and gas properties impairment totaled $20.323 million for the six months ended June 30, 2026.
- Net cash provided by operating activities was $113.928 million for the six months ended June 30, 2026.
- The company reincorporated from Delaware to Texas on August 5, 2026.
- Disposed of remaining Crescent Energy common stock in Q2 2026, realizing a $2.2 million loss.
Price Impact
More from GRNT