Granite Ridge Resources Inc (GRNT) financial statements: income statement, balance sheet and cash flow

Granite Ridge Resources Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Granite Ridge Resources Inc reported net income of $24.4M (+29.8% year on year).

Income statement

Granite Ridge Resources Inc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Oil and natural gas sales	$450.3M	$380.0M	$394.1M	$497.4M
Lease operating expenses	$84.9M	$57.5M	$60.5M	$44.7M
Production and ad valorem taxes	$27.6M	$26.0M	$27.7M	$30.6M
Depletion and accretion expense	$215.7M	$176.5M	$160.7M	$105.8M
Impairments of long-lived assets	$44.7M	$36.4M	$26.5M	—
General and administrative	$31.0M	$24.6M	$27.9M	$14.2M
Other, net	$65.0K	($241.0K)	—	—
Total operating costs and expenses	$403.9M	$320.8M	$303.5M	$195.3M
Net operating income	$46.4M	$59.3M	$90.6M	$302.1M
Gain (loss) on derivatives - commodity derivatives	$27.1M	($908.0K)	$25.5M	($25.3M)
Interest expense, net	($25.5M)	($18.5M)	—	—
Loss on derivatives - common stock warrants	$0	$0	—	—
Gain (loss) on equity investments	($15.8M)	($15.2M)	—	—
Other income (expense)	($94.0K)	$271.0K	—	—
Total other income (expense)	($14.3M)	($34.3M)	$15.0M	($27.0M)
Income before income taxes	$32.1M	$25.0M	$105.6M	$275.2M
Income tax expense	$7.8M	$6.2M	$24.5M	$12.8M
Net income	$24.4M	$18.8M	$81.1M	$262.3M
Basic (in dollars per share)	$0.18	$0.14	$0.61	$1.97
Diluted (in dollars per share)	$0.18	$0.14	$0.61	$1.97
Basic (in shares)	130.4M	130.2M	133.1M	132.9M
Diluted (in shares)	130.5M	130.2M	133.1M	133.1M

Granite Ridge Resources Inc income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Oil and natural gas sales	$149.3M	$128.3M	$112.7M	$109.2M
Lease operating expenses	$30.0M	$29.7M	$23.6M	$20.1M
Production and ad valorem taxes	$9.3M	$8.2M	$6.6M	$6.4M
Depletion and accretion expense	$52.7M	$55.0M	$55.9M	$53.4M
Impairments of long-lived assets	$9.1M	$11.2M	—	—
General and administrative	$9.2M	$9.1M	$7.0M	$8.5M
Other, net	$45.0K	$267.0K	$0	$0
Total operating costs and expenses	$110.3M	$113.4M	$93.1M	$88.5M
Net operating income	$39.0M	$14.8M	$19.6M	$20.7M
Gain (loss) on derivatives - commodity derivatives	$13.0M	($72.0M)	$5.2M	$23.9M
Interest expense, net	($11.1M)	($10.3M)	($6.1M)	($5.9M)
Gain (loss) on equity investments	($2.2M)	$6.7M	—	($5.8M)
Other income (loss)	$157.0K	$158.0K	$0	($93.0K)
Total other income (expense)	($148.0K)	($75.5M)	($297.0K)	$12.1M
Income (loss) before income taxes	$38.9M	($60.7M)	$19.3M	$32.9M
Income tax expense (benefit)	$8.9M	($13.6M)	$4.8M	$7.8M
Net income (loss)	$30.0M	($47.0M)	$14.5M	$25.1M
Basic (in dollars per share)	$0.23	-$0.36	$0.11	$0.19
Diluted (in dollars per share)	$0.23	-$0.36	$0.11	$0.19
Basic (in shares)	130.8M	130.6M	130.5M	130.5M
Diluted (in shares)	130.8M	130.6M	130.5M	130.6M

Balance sheet

Granite Ridge Resources Inc balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash	$14.8M	$9.4M	$10.4M	$50.8M
Revenue receivable	$74.2M	$69.7M	$72.9M	$72.3M
Advances to operators	$2.7M	$20.0M	$4.9M	$8.9M
Prepaid and other current assets	$2.3M	$3.8M	—	—
Derivative assets - commodity derivatives	$14.0M	$537.0K	$11.1M	$10.1M
Equity investments	$11.0M	$31.8M	$50.4M	—
Total current assets	$118.9M	$135.2M	$151.6M	$146.3M
Oil and gas properties, successful efforts method	$1.9B	$1.5B	$1.2B	$1.0B
Accumulated depletion	($857.8M)	($643.1M)	($467.1M)	($383.7M)
Total property and equipment, net	$1.0B	$897.0M	$769.5M	$645.0M
Derivative assets - commodity derivatives	$3.7M	$0	$1.2M	—
Other long-term assets	$5.9M	$4.3M	$4.8M	$3.5M
Total long-term assets	$9.6M	$4.3M	$6.0M	$3.5M
Total assets	$1.2B	$1.0B	$927.1M	$794.8M
Accounts payable and accrued liabilities	$76.8M	$99.4M	—	—
Current portion of long-term debt	$17.5M	—	—	—
Other liabilities	$810.0K	$546.0K	$1.2M	$1.5M
Derivative liabilities - commodity derivatives	$24.0K	$1.8M	$0	$431.0K
Total current liabilities	$95.2M	$101.8M	$62.1M	$64.1M
Long-term debt, net	$367.8M	—	—	—
Derivative liabilities - commodity derivatives	$0	$3.7M	—	—
Asset retirement obligations	$12.0M	$10.7M	$9.4M	$4.7M
Deferred tax liability	$87.3M	$79.9M	$74.0M	$91.6M
Total long-term liabilities	$467.1M	$299.3M	$193.4M	$108.2M
Total liabilities	$562.3M	$401.1M	$255.5M	$172.4M
Common stock, $0.0001 par value, 431,000,000 shares authorized, 136,941,978 and 136,417,677 issued at December 31, 2025 and 2024, respectively	14.0K	14.0K	14.0K	13.0K
Additional paid-in capital	$659.2M	$655.5M	$653.2M	$590.2M
Retained earnings	($17.3M)	$16.0M	$54.8M	$32.4M
Treasury stock, at cost, 5,686,711 and 5,683,921 shares at December 31, 2025 and 2024, respectively	-36.2M	-36.2M	-36.3M	-229.0K
Total stockholders' equity	$605.8M	$635.4M	$671.6M	$622.4M
Total liabilities and stockholders' equity	$1.2B	$1.0B	$927.1M	$794.8M

Granite Ridge Resources Inc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash	$44.1M	$30.1M	$11.8M	$3.7M
Revenue receivable	$101.0M	$90.8M	$74.7M	$76.6M
Advances to operators	$3.1M	$2.5M	$2.8M	$8.3M
Prepaid and other current assets	$4.8M	$1.4M	$1.1M	$2.3M
Derivative assets - commodity derivatives	$1.8M	$1.7M	$6.8M	$6.9M
Equity investments	$0	$17.6M	$11.6M	$11.0M
Total current assets	$154.8M	$144.1M	$108.8M	$109.0M
Oil and gas properties, successful efforts method	$2.0B	$2.0B	$1.8B	$1.7B
Accumulated depletion	($965.0M)	($912.6M)	($800.2M)	($744.5M)
Total property and equipment, net	$1.1B	$1.0B	$1.0B	$989.2M
Derivative assets - commodity derivatives	$3.1M	$3.2M	$1.4M	$2.8M
Other long-term assets	$5.1M	$5.5M	$3.5M	$3.9M
Total long-term assets	$8.2M	$8.7M	$4.9M	$6.8M
Total assets	$1.2B	$1.2B	$1.1B	$1.1B
Accounts payable and accrued liabilities	$100.1M	$80.2M	$75.4M	$78.4M
Current portion of long-term debt	$35.0M	$26.3M	—	—
Derivative liabilities - commodity derivatives	$10.6M	$42.3M	$426.0K	$3.1M
Other liabilities	$5.5M	$7.0M	$1.1M	$1.0M
Total current liabilities	$151.2M	$155.7M	$77.0M	$82.5M
Long-term debt, net	$427.1M	$400.0M	$300.0M	$275.0M
Derivative liabilities - commodity derivatives	$1.0M	$5.2M	$1.1M	$3.5M
Asset retirement obligations	$12.4M	$12.3M	$11.5M	$11.3M
Deferred tax liability	$82.5M	$73.7M	$95.1M	$90.2M
Other long-term payables	$942.0K	$1.3M	—	—
Total long-term liabilities	$524.0M	$492.5M	$407.7M	$380.0M
Total liabilities	$675.2M	$648.2M	$484.6M	$462.5M
Common stock, $0.0001 par value, 431,000,000 shares authorized, 137,592,654 and 136,941,978 issued at June 30, 2026 and December 31, 2025, respectively	14.0K	14.0K	14.0K	14.0K
Additional paid-in capital	$661.9M	$660.6M	$657.9M	$656.5M
Retained earnings (accumulated deficit)	($63.3M)	($78.8M)	$22.2M	$22.1M
Treasury stock, at cost, 5,692,412 and 5,686,711 shares at June 30, 2026 and December 31, 2025, respectively	-36.2M	-36.2M	-36.2M	-36.2M
Total stockholders' equity	$562.4M	$545.6M	$643.9M	$642.5M
Total liabilities and stockholders' equity	$1.2B	$1.2B	$1.1B	$1.1B

Cash flow statement

Granite Ridge Resources Inc cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$24.4M	$18.8M	$81.1M	$262.3M
Depletion and accretion expense	$215.7M	$176.5M	$160.7M	$105.8M
Impairments of long-lived assets	$44.7M	$36.4M	$26.5M	—
Unrealized (gain) loss on derivatives - commodity derivatives	($22.7M)	—	—	—
Stock-based compensation	$3.8M	$2.3M	$2.2M	—
Amortization of deferred financing costs and original issue discount	$2.2M	$3.5M	$1.3M	$159.0K
Loss on derivatives - common stock warrants	$0	$0	$5.7M	($362.0K)
(Gain) loss on equity investments	$15.8M	$15.2M	—	—
Deferred income taxes	$7.4M	$6.0M	$24.3M	$12.8M
Other	($359.0K)	($1.0M)	($313.0K)	—
Revenue receivable	($4.4M)	$3.3M	($846.0K)	($25.0M)
Accounts payable and accrued liabilities	$9.6M	—	—	—
Prepaid and other current assets	$693.0K	($1.4M)	$485.0K	($2.1M)
Other liabilities	($258.0K)	($47.0K)	$350.0K	$5.0K
Net cash provided by operating activities	$296.4M	$275.7M	$302.9M	$346.4M
Capital expenditures for oil and natural gas properties	($300.8M)	($285.8M)	($282.4M)	($185.5M)
Acquisition of oil and natural gas properties	($118.5M)	($61.2M)	($76.8M)	($49.2M)
Deposit on acquisition	$0	($887.0K)	$0	($1.9M)
Refund of advances to operators	$4.3M	$19.7M	$2.5M	$1.2M
Proceeds from the disposal of oil and natural gas properties	$175.0K	$14.0M	$60.0K	$4.8M
Proceeds from the sale of equity investments	$5.0M	$3.5M	—	—
Net cash used in investing activities	($409.8M)	($310.8M)	($356.7M)	($230.6M)
Proceeds from borrowing on credit facilities	$190.0M	$110.0M	$162.5M	$21.0M
Repayments of borrowing on credit facilities	($345.0M)	($15.0M)	($52.5M)	($72.1M)
Proceeds from senior notes, net of discount	$336.0M	—	—	—
Deferred financing costs	($4.5M)	($3.3M)	($2.6M)	($3.2M)
Payment of expenses related to formation of Granite Ridge Resources, Inc.	$0	$0	($43.0K)	($18.5M)
Purchase of treasury shares	-16.0K	-442.0K	-35.4M	-216.0K
Payment of dividends	($57.7M)	($57.5M)	($58.6M)	($10.7M)
Proceeds from issuance of common stock	$0	$0	$5.0K	$6.8M
Net cash provided by financing activities	$118.8M	$33.7M	$13.4M	($76.8M)
Net change in cash and restricted cash	$5.4M	($1.3M)	($40.4M)	—
Cash and restricted cash at beginning of year	$9.4M	$10.7M	$51.1M	$12.2M
Cash and restricted cash at end of year	$14.8M	$9.4M	$10.7M	$51.1M
Cash paid during the year for interest, net of capitalized interest	($24.7M)	($14.5M)	($4.8M)	($2.3M)
Cash paid during the year for income taxes, net of refunds	($549.0K)	($197.0K)	($742.0K)	—
Oil and natural gas properties divested in exchange for equity securities	$0	$0	$49.9M	—
Change in accrued capital expenditures included in accounts payable and accrued liabilities	($10.9M)	—	—	—
Advances to operators applied to development of oil and natural gas properties	$150.7M	$121.9M	$98.2M	$103.5M
Cash	$14.8M	$9.4M	$10.4M	$50.8M
Restricted cash included in other long-term assets	$0	$0	$300.0K	$300.0K
Cash and restricted cash	$14.8M	$9.4M	$10.7M	$51.1M

Granite Ridge Resources Inc cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income (loss)	($17.0M)	($47.0M)	$49.4M	$34.9M
Depletion and accretion expense	$107.6M	$55.0M	$157.8M	$101.9M
Impairments of long-lived assets	$20.3M	$11.2M	—	—
Unrealized (gain) loss on derivatives - commodity derivatives	$24.5M	$60.2M	($11.7M)	($8.2M)
Stock-based compensation expense	$2.6M	$1.4M	$2.4M	$1.0M
Amortization of deferred financing costs and original issue discount	$2.7M	$1.3M	$1.2M	$800.0K
(Gain) loss on equity investments	($4.5M)	($6.7M)	$15.2M	$15.8M
Deferred income taxes	($4.9M)	($13.6M)	$15.2M	$10.3M
Other	($135.0K)	($5.0K)	($266.0K)	($258.0K)
Revenue receivable	($26.8M)	($16.6M)	($5.0M)	($7.0M)
Accounts payable and accrued liabilities	$6.6M	$4.9M	$5.8M	$3.2M
Prepaid and other current assets	($2.6M)	$851.0K	$1.5M	$1.5M
Other liabilities and long-term payables	$5.5M	$7.5M	—	—
Net cash provided by operating activities	$113.9M	$58.3M	$231.9M	$154.1M
Capital expenditures for oil and natural gas properties	($122.6M)	($60.4M)	($233.1M)	($164.5M)
Acquisition of oil and natural gas properties	($26.2M)	($9.5M)	($57.0M)	($44.9M)
Proceeds from sale of equity investments	$15.4M	—	$5.0M	$5.0M
Proceeds from sale of oil and natural gas properties	$1.5M	$1.2M	$175.0K	$175.0K
Refund of advances to operators	$1.1M	$0	$4.2M	$3.7M
Net cash used in investing activities	($130.7M)	($68.6M)	($280.8M)	($200.5M)
Proceeds from borrowing on credit facilities	$105.0M	$40.0M	$135.0M	$95.0M
Repayments of borrowing on credit facilities	($30.0M)	—	($40.0M)	($25.0M)
Deferred financing costs	$0	—	($450.0K)	($449.0K)
Purchase of treasury shares	-30.0K	-30.0K	-16.0K	-16.0K
Payment of dividends	($29.0M)	($14.5M)	($43.2M)	($28.8M)
Net cash provided by financing activities	$46.0M	$25.5M	$51.3M	$40.7M
Net change in cash	$29.2M	$15.2M	$2.4M	($5.7M)
Cash at beginning of period	$14.8M	$14.8M	$9.4M	$9.4M
Cash at end of period	$44.1M	$30.1M	—	—
Change in accrued capital expenditures included in accounts payable and accrued liabilities	$7.4M	($4.5M)	($13.6M)	($7.8M)
Advances to operators applied to development of oil and natural gas properties	$84.1M	$40.1M	$115.9M	$72.5M

Granite Ridge Resources Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.