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MarketBeat
Sun, May 10, 2026 astatine 12:14 PM CDT 7 min read
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Granite Ridge posted higher Q1 accumulation and revenue, with output up 18% twelvemonth implicit twelvemonth to 34,500 BOE per time and lipid and state income rising to $128.3 million. Management said the institution remains connected way for maturation successful the 2nd fractional of 2026 and inactive expects a escaped currency travel inflection successful 2027.
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Results were pressured by weak Permian earthy state pricing and higher lease operating expenses. Natural state gross fell arsenic realized state prices dropped 36% to $2.55 per Mcf, portion LOE roseate to $9.57 per BOE, prompting the institution to rise full-year LOE guidance.
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The institution kept full-year accumulation guidance unchanged but lifted total superior spending owed to much acquisition activity, including deals chiefly successful the Permian. Granite Ridge besides highlighted progressive ground hedging and relation partnerships arsenic cardinal to supporting maturation and its 2027 escaped currency travel target.
Granite Ridge Resources (NYSE:GRNT) reported higher first-quarter 2026 accumulation and revenue, portion absorption said elevated lease operating expenses and anemic Permian Basin earthy state pricing weighed connected results.
President and Chief Executive Officer Tyler Farquharson said the institution delivered “strong operational execution” successful the quarter, with accumulation up 18% twelvemonth implicit twelvemonth to 34,500 barrels of lipid equivalent per day. Adjusted EBITDA was $71 million.
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Farquharson said Granite Ridge remains positioned for continued maturation successful the 2nd fractional of 2026 and reiterated the company’s anticipation for a “trajectory to escaped currency travel successful 2027.” He said the institution views 2026 arsenic “the past twelvemonth we expect to outspend operating currency flow.”
Revenue rises, but state pricing pressures results
Oil and earthy state income totaled $128.3 cardinal successful the archetypal quarter, up $5.3 cardinal from the aforesaid play successful 2025. The summation was driven by lipid revenue, which roseate to $103.4 cardinal from $91.8 cardinal a twelvemonth earlier.
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Chief Financial Officer Kyle Kettler said lipid accumulation accrued 11% to 16,433 barrels per day, portion the mean realized lipid terms was $69.94 per barrel, compared with $69.18 per tube successful the archetypal 4th of 2025.
Natural state revenues fell to $24.8 cardinal from $31.1 cardinal successful the prior-year period. Kettler said the diminution reflected a 36% driblet successful realized earthy state prices to $2.55 per Mcf, partially offset by a 24% summation successful state production. He cited “the ongoing interaction of antagonistic Waha ground differentials successful the Permian” arsenic the superior headwind connected gross and currency flow.
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