Overview

* Granite Ridge Q3 adjusted EPS misses analyst expectations

* Company reports 27% increase in daily production to 31,925 Boe per day

* Granite Ridge issues $350 mln senior unsecured notes, enhancing liquidity

Outlook

* Granite Ridge expects 2025 production between 31,000 and 33,000 Boe per day

* Company projects 2025 total capital expenditures of $400 mln to $420 mln

* Granite Ridge anticipates 2025 lease operating expenses of $6.25 to $7.25 per Boe

Result Drivers

* PRODUCTION GROWTH - Daily production increased 27% to 31,925 Boe per day, driven by strong well performance in multiple basins

* CAPITAL INVESTMENTS - Invested $64 mln in development and $16.5 mln in acquisitions to capture high-quality drilling opportunities

* OPERATED PARTNERSHIPS - Strong performance from Operated Partnership platform, particularly in the Permian Basin, drove operational excellence

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Oil $112.70

and mln

Natural

Gas

Sales

Q3 Miss $0.09 $0.12 (4

Adjusted Analysts

EPS )

Q3 Miss $11.80 $21.49

Adjusted mln mln (4

Net Analysts

Income )

Q3 Miss $78.60 $81.88

Adjusted mln mln (5

EBITDA Analysts

)

Q3 $77.80

Adjusted mln

Free

Cash

Flow

Q3 $0.11

Dividend

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

* Wall Street's median 12-month price target for Granite Ridge Resources Inc ( GRNT ) is $6.90, about 21.7% above its November 6 closing price of $5.40

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)