Granite Ridge Resources, Inc.

Granite Ridge Resources, Inc. reported a net loss of $10.05 million for the third quarter of 2026, a notable shift from a net income of $14.52 million in the same quarter of 2025. Despite the loss, revenues increased to $177.21 million from $112.67 million year-over-year, primarily due to higher oil and natural gas sales. For the nine-month period, the company posted a net loss of $27.09 million, contrasting with a net income of $49.42 million in the prior year. Total assets grew to $1.26 billion, while liabilities also increased to $720.16 million. The company continued its capital expenditure program and paid dividends.

Granite Ridge Resources announced its third quarter 2026 financial and operating results, reporting a net loss of $10.1 million ($0.08 per share) compared to a net income of $14.5 million ($0.11 per share) in the prior year period. However, the company achieved a record Adjusted EBITDAX of $107.3 million. Granite Ridge also declared a quarterly cash dividend of $0.11 per share and approved a new $35 million share repurchase program. Daily production increased by 9% to 34,641 Boe per day, and the company announced a new partnership with Arete Creek Resources.

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.

Granite Ridge Resources, Inc. announced its reincorporation from Delaware to Texas, effective August 5, 2026, following stockholder approval on August 4, 2026. This change means the company's affairs are now governed by Texas law, with existing common stock converting on a one-for-one basis without requiring new certificates. Additionally, the company entered into new indemnification agreements with its directors and executive officers, effective August 5, 2026, superseding prior agreements and providing for indemnification and expense advancement.

Granite Ridge Resources, Inc. will hold a Special Meeting of Stockholders on August 4, 2026, to vote on a proposal to reincorporate the company from Delaware to Texas. The Board of Directors, following a recommendation from a Special Committee, unanimously supports the move, citing benefits such as aligning the company's legal and operational homes, leveraging Texas's statute-focused corporate law for greater predictability, and potentially reducing opportunistic litigation. The reincorporation is also expected to eliminate the company's $200,000 annual Delaware franchise tax.

Granite Ridge Resources, Inc. stockholders approved the First Amendment to the 2022 Omnibus Incentive Plan, increasing shares available for issuance by 2,500,000 and extending its term by two years to October 24, 2034. Shareholders also elected three Class I directors, ratified Forvis Mazars LLP as the independent auditor for 2026, and approved, on an advisory basis, the compensation of named executive officers. Additionally, stockholders voted to hold the advisory vote on executive compensation annually.

Granite Ridge Resources reported a net loss of $(47.03) million for the first quarter of 2026, a significant decline from a net income of $9.81 million in the prior year. This was primarily driven by a substantial increase in losses on commodity derivatives, which reached $(72.03) million, and higher operating costs. Despite the net loss, oil and natural gas sales saw a modest increase to $128.26 million.

Granite Ridge Resources reported a net loss of $47.0 million, or $0.36 per share, for Q1 2026, a significant decline from net income in the prior year, primarily due to non-cash mark-to-market losses on hedges and an impairment. Despite the loss, daily production grew 18% to 34,467 Boe/day, and the company generated $71.0 million in Adjusted EBITDAX. The Board also declared a regular quarterly dividend of $0.11 per share and updated its 2026 guidance.