Granite Ridge Resources indicated that a $65 oil price would support a 10% free cash flow yield in 2027, alongside a dividend coverage of 1.25 times, leverage around 1.25 times, and high-single-digit production growth. The company also raised its full-year lease operating expense guidance to $8.25–$9.25 per barrel of oil equivalent, citing water handling costs in the Permian and higher early-life costs on newer pads. Second-quarter production averaged 32,044 barrels of oil equivalent per day, 51% oil, generating $79.6 million in adjusted EBITDAX and $149.3 million in oil and natural gas sales. Additionally, Grey Rock Investment Partners plans to distribute a portion of its Granite Ridge shares to limited partners in the third quarter, which will reduce its ownership below 50% and end Granite Ridge’s controlled-company status.
Granite Ridge Resources IncCompany signals $65 oil supports 10% FCF yield and raises LOE guidance, indicating solid financial outlook.
Grey Rock plans to distribute shares, reducing ownership below 50%, but impact on its value is unclear.
