Granite Ridge Resources Business Summary

Granite Ridge Resources, Inc. (GRNT) is a scaled, non-operated oil and gas exploration and production company that generates revenue through the sale of oil, natural gas, and natural gas liquids. The company’s business model is centered on acquiring and managing non-operated working interests and forming strategic operator partnerships across top-tier U.S. unconventional basins, including the Permian (Midland and Delaware), Eagle Ford, Bakken, Haynesville, and DJ Basins. By partnering with proven operators like Admiral Permian Resources and PetroLegacy, Granite Ridge provides public market investors with a diversified portfolio and risk profile similar to energy private equity. Within the competitive landscape, the company competes directly with other non-operated and hybrid E&P firms such as Northern Oil and Gas (NOG), Crescent Energy (CRGY), and Civitas Resources (CIVI), positioning itself as a capital-efficient vehicle focused on high-margin inventory and disciplined cash flow distribution. Granite Ridge was formed in 2022 through a $1.3 billion business combination between Grey Rock Investment Partners and a special purpose acquisition company led by former U.S. Speaker of the House Paul Ryan. The leadership team is currently headed by President and CEO Tyler Farquharson, who previously served as the company’s CFO and held executive roles at EXCO Resources. In February 2026, the company strengthened its C-suite by appointing Kyle Kettler as Chief Financial Officer, bringing over 25 years of energy finance experience from his tenure as a Partner at Chambers Energy Management. The board is co-chaired by Grey Rock co-founders Matt Miller and Griffin Perry, ensuring strategic alignment with the company's private equity roots. Major institutional backing is provided by Grey Rock Energy Management, which maintains a significant majority stake, alongside notable investors such as Vanguard, BlackRock, and Hamilton Lane.