Granite Ridge Resources Inc. is an independent, non-operated oil and natural gas exploration and production (E&P) company headquartered in Dallas, Texas. The company's business model focuses on acquiring and holding non-operated working interests and royalty interests in oil and gas properties across the United States. By partnering with experienced operators rather than drilling and operating wells directly, Granite Ridge minimizes its overhead costs and operational risks while maintaining exposure to commodity price upside and production growth.
The company's geographic footprint spans several of the most prolific unconventional resource plays in the United States, including the Permian, Eagle Ford, Bakken, Haynesville, Appalachian, and Denver-Julesburg (DJ) basins. Revenue is generated entirely from the sale of oil and natural gas produced from its portfolio of over 3,600 gross producing wells. In recent periods, oil sales have constituted the vast majority of the company's revenue (typically over 80%), supplemented by natural gas sales, though the latter has been subject to regional pricing volatility such as negative Waha hub pricing in the Permian basin.
Granite Ridge was formed in 2022 through a business combination between Grey Rock Investment Partners and the special purpose acquisition company Executive Network Partnering Corporation. The company's competitive position is defined by its unlevered balance sheet, diversified basin exposure, and ability to selectively allocate capital to high-return development projects and acquisitions without the capital-intensive requirements of a traditional operated E&P model.
