Granite Ridge Investor Presentation Deck
●
• Underwrote a leasing and acquisition strategy in the
area after observing proximate activity by EOG
●
Overview
Burgers & Beer: Case Study
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Acquired, leased and farmed out 2,398 net acres
representing 19.8 net wells for $800k/location
Einhorn Unit
●
Unit
●
Cordell Unit
Premier operator at a compelling entry point
EOG drilled 4 locations in 2021 and 8 in 2022
●
Partnered with a non-op to build critical mass
• Ran competitive sell down process to bring in a
premier operator to accelerate development
State Trivette
State Cordell
State CD
State Einhorn
State Finkel
Total
Map ID
A
Assets
()
C
E
Net
Acres
393
367
503
612
523
2,398
Total Net
Locations ²
1.6
3.4
4.7
5.2
4.8
19.8
Net Locations
Developed
0.1
1.1
0.4
5.2
Strategy & Execution
6.9
1. A well is assumed to be developed if it has been spud by 8/9/2023.
2. Assumes similar development pattern to EOG in the Einhorn Unit with 12 total wells (8 Wolfcamp A, 4 Wolfcamp B).
Delaware Basin - Reeves County
A
Net Remaining
Inventory
1.5
2.3
Permitted
4.3
B
4.8
12.9
C
$ / Location
$0.7MM
$1.0MM
$0.5MM
$1.0MM
$0.9MM
$0.8MM
Appendix
O
TE
E
TUILLE
-Developed ¹
Operator
Mewbourne
Mewbourne
Mewbourne
EOG
EOG
GRANITE RIDGE
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