$GRNT
Granite Ridge Resources, Inc.

2024 Q3 Form 10-Q Financial Statement

#000192844624000037 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $94.08M $90.65M
YoY Change -13.22% 3.53%
Cost Of Revenue $6.345M $6.881M
YoY Change -18.55% 9.17%
Gross Profit $87.73M $83.77M
YoY Change -12.81% 3.1%
Gross Profit Margin 93.26% 92.41%
Selling, General & Admin $18.62M $20.29M
YoY Change -16.08% -9.48%
% of Gross Profit 21.22% 24.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $44.15M $41.59M
YoY Change -0.27% 18.94%
% of Gross Profit 50.32% 49.65%
Operating Expenses $69.39M $68.77M
YoY Change -8.45% 7.97%
Operating Profit $24.68M $21.89M
YoY Change -24.3% -8.3%
Interest Expense -$11.30M -$15.11M
YoY Change -933.26% -1347.48%
% of Operating Profit -45.78% -69.02%
Other Income/Expense, Net -$11.30M -$15.11M
YoY Change 19.01% 37.32%
Pretax Income $13.38M $6.779M
YoY Change -42.09% -47.31%
Income Tax $4.330M $1.700M
% Of Pretax Income 32.35% 25.08%
Net Earnings $9.054M $5.101M
YoY Change -49.58% -41.62%
Net Earnings / Revenue 9.62% 5.63%
Basic Earnings Per Share $0.07 $0.04
Diluted Earnings Per Share $0.07 $0.04
COMMON SHARES
Basic Shares Outstanding 130.7M shares 130.7M shares
Diluted Shares Outstanding 130.2M shares 130.3M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.24M $67.16M
YoY Change 619.92% 173.02%
Cash & Equivalents $23.10M $13.84M
Short-Term Investments $36.14M $53.61M
Other Short-Term Assets $14.35M $16.19M
YoY Change 24.18% -33.28%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $132.1M $150.6M
YoY Change 28.92% 44.25%
LONG-TERM ASSETS
Property, Plant & Equipment $899.5M $834.9M
YoY Change 10.34% 9.03%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00
YoY Change
Other Assets $4.331M $4.983M
YoY Change 45.43% 58.59%
Total Long-Term Assets $903.8M $839.9M
YoY Change 10.47% 9.23%
TOTAL ASSETS
Total Short-Term Assets $132.1M $150.6M
Total Long-Term Assets $903.8M $839.9M
Total Assets $1.036B $990.5M
YoY Change 12.52% 13.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $83.23M $62.34M
YoY Change 34.28% 21.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $84.46M $67.34M
YoY Change 20.96% 27.28%
LONG-TERM LIABILITIES
Long-Term Debt $195.0M $165.0M
YoY Change 129.41% 200.0%
Other Long-Term Liabilities $11.11M $12.44M
YoY Change 59.22% 80.59%
Total Long-Term Liabilities $290.8M $257.8M
YoY Change 44.98% 53.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $84.46M $67.34M
Total Long-Term Liabilities $290.8M $257.8M
Total Liabilities $375.3M $325.2M
YoY Change 38.78% 47.13%
SHAREHOLDERS EQUITY
Retained Earnings $42.05M $47.38M
YoY Change -18.75% -2.53%
Common Stock $14.00K $14.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $660.6M $665.3M
YoY Change
Total Liabilities & Shareholders Equity $1.036B $990.5M
YoY Change 12.52% 13.41%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $9.054M $5.101M
YoY Change -49.58% -41.62%
Depreciation, Depletion And Amortization $44.15M $41.59M
YoY Change -0.27% 18.94%
Cash From Operating Activities $74.69M $64.19M
YoY Change 30.97% -13.48%
INVESTING ACTIVITIES
Capital Expenditures $88.63M $84.45M
YoY Change 18.56% 3.14%
Acquisitions
YoY Change
Other Investing Activities $7.577M $2.881M
YoY Change 12528.33%
Cash From Investing Activities -$81.05M -$81.57M
YoY Change 8.51% -0.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 15.62M 10.15M
YoY Change 68.14% -9.88%
NET CHANGE
Cash From Operating Activities 74.69M 64.19M
Cash From Investing Activities -81.05M -81.57M
Cash From Financing Activities 15.62M 10.15M
Net Change In Cash 9.260M -7.240M
YoY Change -210.55% -303.2%
FREE CASH FLOW
Cash From Operating Activities $74.69M $64.19M
Capital Expenditures $88.63M $84.45M
Free Cash Flow -$13.93M -$20.27M
YoY Change -21.38% 163.34%

Facts In Submission

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us-gaap Nature Of Operations
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Organization and Nature of Operations<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Granite Ridge Resources, Inc. (together with its consolidated subsidiaries, “Granite Ridge” or the “Company”) is a Delaware corporation, initially formed in May 2022, whose common stock is listed and traded on the New York Stock Exchange (“NYSE”). The Company was created for the purpose of the Business Combination (as defined below), and following the Business Combination, for the purpose of purchasing non-operated oil and natural gas assets in multiple basins in North America and realizing profits through participation in oil and natural gas wells.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 24, 2022, the Business Combination closed and was accounted for as a reverse recapitalization and Grey Rock Energy Fund III (as defined below) was determined to be the accounting acquirer and Predecessor (as defined below). </span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Business Combination</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 24, 2022 (the “Closing Date”), Granite Ridge and Executive Network Partnering Corporation, a Delaware corporation (“ENPC”), consummated the Business Combination pursuant to the terms of the Business Combination Agreement, dated as of May 16, 2022 (the “Business Combination Agreement”), by and among ENPC, Granite Ridge, ENPC Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Granite Ridge (“ENPC Merger Sub”), GREP Merger Sub, LLC, a Delaware limited liability company and a wholly-owned subsidiary of Granite Ridge (“GREP Merger Sub”), and Granite Ridge Holdings, LLC, a Delaware limited liability company formerly known as GREP Holdings, LLC (“GREP”).</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the Business Combination Agreement, on the Closing Date, (i) ENPC Merger Sub merged with and into ENPC (the “ENPC Merger”), with ENPC surviving the ENPC Merger as a wholly-owned subsidiary of Granite Ridge and (ii) GREP Merger Sub merged with and into GREP (the “GREP Merger,” and together with the ENPC Merger, the “Mergers”), with GREP surviving the GREP Merger as a wholly-owned subsidiary of Granite Ridge (the transactions contemplated by the foregoing clauses (i) and (ii) the “Business Combination,” and together with the other transactions contemplated by the Business Combination Agreement, the “Transactions”).</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Immediately prior to the closing of the Transactions, the net assets of Grey Rock Energy Fund, L.P., a Delaware limited partnership (“Fund I”), Grey Rock Energy Fund II, L.P., a Delaware limited partnership (“Fund II-A”), Grey Rock Energy Fund II-B, L.P., a Delaware limited partnership (“Fund II-B”), and Grey Rock Energy Fund II-B Holdings, L.P., a Delaware limited partnership (“Fund II-B Holdings”, and together with Fund II-A and Fund II-B, collectively, “Fund II”), and Grey Rock Energy Fund III-A, L.P., a Delaware limited partnership (“Fund III-A”), Grey Rock Energy Partners Fund III-B, L.P., a Delaware limited partnership (“Fund III-B”), and Grey Rock Energy Fund III-B Holdings, L.P., a Delaware limited partnership (“Fund III-B Holdings” and together with Fund III-A and Fund III-B, collectively, “Fund III” or “Predecessor”) were transferred (through various intermediary entities) to GREP (the “GREP Formation Transaction”). Fund I, Fund II and Fund III are collectively referred to herein as the “Funds”.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the special meeting of ENPC stockholders held in connection with the Business Combination, of the 41,400,000 shares of ENPC Class A common stock, public stockholders of 39,343,496 shares of ENPC Class A common stock exercised their rights to have those shares redeemed for cash at a redemption price of approximately $10.07 per share, or an aggregate of approximately $396.1 million. The holders of membership interests in GREP (the “Existing GREP Members”) and their direct and indirect members were issued 130.0 million shares of Granite Ridge common stock at the closing. Upon consummation of the Business Combination, each public stockholder’s ENPC common stock and ENPC warrants were automatically converted into an equivalent number of shares of Granite Ridge common stock and Granite Ridge warrants as a result of the Transactions. At the effective time of the Mergers, (i) 495,357 shares of ENPC Class F common stock were converted to 1,238,393 shares of ENPC Class A common stock (of which an aggregate of 220,348 shares were subsequently forfeited pursuant to the terms of the Sponsor Agreement, dated as of May 16, 2022, by and among ENPC, Granite Ridge, and certain other parties thereto (the “Sponsor Agreement”)) and the remaining shares of ENPC Class F common stock outstanding were automatically cancelled for no consideration (the “ENPC Class F Conversion”) (ii) all other remaining shares of ENPC Class A common stock automatically cancelled without any conversion, payment or distribution (the “Sponsor Share Cancellation”) and (iii) all shares of ENPC Class B common stock outstanding were deemed transferred to ENPC and surrendered and forfeited for no consideration (the “ENPC Class B Contribution”). In January 2023, 220,348 of the 371,518 shares subject to vesting and forfeiture provisions under the terms of the Sponsor Agreement were forfeited.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following the ENPC Class F Conversion, the Sponsor Share Cancellation, the ENPC Class B Contribution and the separation of the securities offered in ENPC’s initial public offering, which consisted of one share of Class A common stock and one-quarter of one ENPC warrant (“CAPS</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:4.87pt;font-weight:400;line-height:120%;position:relative;top:-2.62pt;vertical-align:baseline">TM</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Separation”), each share of ENPC Class A common stock outstanding was automatically converted into one share of Granite Ridge common stock. Total aggregate investment by ENPC was $6.8 million, which amount represents total risk capital contributed by ENPC, including working capital loans that were forgiven. </span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Warrant Exchange</span></div>On October 24, 2022, in connection with the Business Combination, the Company issued 10,349,975 common stock warrants. On June 22, 2023, the Company completed an offer to holders of its outstanding warrants which provided such holders the opportunity to receive 0.25 shares of the Company’s common stock in exchange for each warrant tendered by such holders (the “Offer”). This Offer coincided with a solicitation of consents from holders of the warrants to amend the warrant agreement governing such warrants to permit the Company to require that each warrant that remained outstanding upon the closing of the Offer be exchanged for 0.225 shares of the Company’s common stock (together with the Offer, the “Warrant Exchange”). On June 22, 2023, the Company issued 2,471,738 shares of common stock in exchange for 9,887,035 warrants tendered in the Offer, with a minimal cash settlement in lieu of partial shares. In July 2023, each remaining outstanding warrant was converted into 0.225 shares of the Company’s common stock, and subsequently, no warrants remained outstanding. See Note 9 for further discussion of the Warrant Exchange.
CY2022Q4 grnt Common Stock To Be Converted
CommonStockToBeConverted
1 shares
CY2022Q4 grnt Common Stock Shares Converted
CommonStockSharesConverted
1 shares
CY2022Q4 grnt Class Of Warrant Or Right Warrants Issued
ClassOfWarrantOrRightWarrantsIssued
10349975 shares
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates of reserves are used to determine depletion and to conduct impairment analysis. Estimating reserves is inherently uncertain, including the projection of future rates of production and the timing of development expenditures.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s estimates of oil and natural gas reserves are, by necessity, projections based on geologic and engineering data, and there are uncertainties inherent in the interpretation of such data as well as the projection of future rates of production and the timing of development expenditures. Reserve engineering is a subjective process of estimating underground accumulations of oil and natural gas that are difficult to measure. The accuracy of any reserve estimate is a function of the quality of available data, engineering and geological interpretation and judgment. Estimates of economically recoverable oil and natural gas reserves and future net cash flows necessarily depend upon a number of variable factors and assumptions, such as historical production from the area compared with production from other producing areas, the assumed effect of regulations by governmental agencies, and assumptions governing future oil and </span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">natural gas prices, future operating costs, severance taxes, development costs and workover costs, all of which may in fact vary considerably from actual results. The future drilling costs associated with reserves assigned to proved undeveloped locations may ultimately increase to the extent that these reserves are later to be determined to be uneconomic. For these reasons, estimates of the economically recoverable quantities of expected oil and natural gas attributable to any particular group of properties, classifications of such reserves based on risk of recovery, and estimates of the future net cash flows may vary substantially. Any significant variance in the assumptions could materially affect the estimated quantity of the reserves, which could affect the carrying value of the Company’s oil and natural gas properties and/or the rate of depletion related to the oil and natural gas properties.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additional significant estimates include, but are not limited to, fair value of derivative financial instruments, fair value of equity investments, fair value of business combinations, asset retirement obligations, revenue receivable and income taxes. Actual results could differ from those estimates.</span></div>
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
200000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
200000 usd
grnt Advance Payments To Operators Term
AdvancePaymentsToOperatorsTerm
P90D
CY2024Q2 us-gaap Depletion
Depletion
41400000 usd
CY2023Q2 us-gaap Depletion
Depletion
34800000 usd
us-gaap Depletion
Depletion
82200000 usd
us-gaap Depletion
Depletion
68600000 usd
CY2024Q2 us-gaap Exploration Abandonment And Impairment Expense
ExplorationAbandonmentAndImpairmentExpense
0 usd
us-gaap Exploration Abandonment And Impairment Expense
ExplorationAbandonmentAndImpairmentExpense
700000 usd
CY2024Q2 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-8800000 usd
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-1000000 usd
grnt Number Of Revenue Sources
NumberOfRevenueSources
2 source
grnt Operating Regions
OperatingRegions
5 region
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
90652000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
87557000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
179648000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
178867000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
90652000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
87557000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
179648000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
178867000 usd
CY2024Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-785000 usd
CY2023Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
1221000 usd
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-3946000 usd
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
14544000 usd
CY2024Q2 grnt Net Cash Payments On Receipts From Derivatives
NetCashPaymentsOnReceiptsFromDerivatives
3951000 usd
CY2023Q2 grnt Net Cash Payments On Receipts From Derivatives
NetCashPaymentsOnReceiptsFromDerivatives
8025000 usd
grnt Net Cash Payments On Receipts From Derivatives
NetCashPaymentsOnReceiptsFromDerivatives
6659000 usd
grnt Net Cash Payments On Receipts From Derivatives
NetCashPaymentsOnReceiptsFromDerivatives
14411000 usd
us-gaap Business Combination Provisional Information Initial Accounting Incomplete Adjustment Consideration Transferred
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentConsiderationTransferred
-1100000 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
600000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
175493 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
306195 shares
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1700000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6500000 usd
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.248
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.234
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.21
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
CY2023 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
110000000.0 usd
CY2024Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
14400000 usd
CY2024Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.11
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
28700000 usd
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.22
CY2023Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
14600000 usd
CY2023Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.11
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
29300000 usd
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.22
grnt Percentage Of Wells Operated By Third Party Operating Partners
PercentageOfWellsOperatedByThirdPartyOperatingPartners
1
us-gaap Net Income Loss
NetIncomeLoss
45603000 usd
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
65000 usd
us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
45538000 usd
grnt Reallocation Of Participating Earnings
ReallocationOfParticipatingEarnings
0 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
45538000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
132933000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
6000 shares
grnt Weighted Average Dilutive Stock Options
WeightedAverageDilutiveStockOptions
2000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
132941000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
416637 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
530944 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
234679 shares
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.11
CY2024Q2 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
1332137000 usd
CY2023Q4 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
1198845000 usd
CY2024Q2 us-gaap Capitalized Costs Unproved Properties
CapitalizedCostsUnprovedProperties
52238000 usd
CY2023Q4 us-gaap Capitalized Costs Unproved Properties
CapitalizedCostsUnprovedProperties
37838000 usd
CY2024Q2 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
549466000 usd
CY2023Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
467141000 usd
CY2024Q2 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
834909000 usd
CY2023Q4 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
769542000 usd
CY2024Q2 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
1677000 usd
CY2023Q2 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
1309000 usd
us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
2824000 usd
us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
19298000 usd
CY2024Q2 us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
17115000 usd
CY2023Q2 us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
3161000 usd
us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
18596000 usd
us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
12791000 usd
CY2024Q2 us-gaap Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
66951000 usd
CY2023Q2 us-gaap Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
58739000 usd
us-gaap Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
129590000 usd
us-gaap Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
157345000 usd
CY2024Q2 us-gaap Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
85743000 usd
CY2023Q2 us-gaap Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
63209000 usd
us-gaap Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
151010000 usd
us-gaap Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
189434000 usd

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