Granite Ridge reported Q4 2025 net loss of USD 25.1 million and Adjusted Net Income of USD 1.5 million, with Adjusted EBITDAX of USD 69.5 million and cash flow from operating activities of USD 64.5 million. Q4 oil and natural gas sales were USD 105.5 million. Total Q4 production rose 27% to 35,120 Boe/day (49% oil), and the company invested USD 127.5 million of capital, placing online 67 gross (10.50 net) wells; a USD 0.11 per share dividend was declared. For FY 2025, Granite Ridge posted net income of USD 24.4 million and Adjusted Net Income of USD 56.2 million, with Adjusted EBITDAX of USD 315.0 million and operating cash flow of USD 296.4 million; oil and natural gas sales were USD 450.3 million. FY production increased 28% to 31,984 Boe/day (50% oil). Total FY capital expenditures were USD 401.0 million, including USD 279.0 million of development capital and USD 122.0 million of property acquisitions. Proved reserves were 62,347 MBoe at year-end 2025 (49% oil), with proved developed reserves of 47,525 MBoe (76% of total). Liquidity at December 31, 2025 was USD 339.5 million, and Net Debt to Adjusted EBITDAX was 1.2x. Management said it continued shifting toward a “capital allocator” model focused on operated partnerships, noting over fifty such transactions since 2023 and approximately 100 net locations added. Initial 2026 guidance calls for production of 34,000–36,000 Boe/day and total capital expenditures of USD 320–360 million.

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