Granite Ridge Investor Presentation Deck
Overview
Assets
Strategy & Execution
Strong Liquidity & Conservative Balance Sheet
Key Company Statistics
($MM, except per share data)
Ticker
Share Price
Fully Diluted Market Cap
Enterprise Value (9/30/23 Debt & Cash) 1
TTM Adjusted EBITDAX (Q4'22-Q3'23) 2
Q3 '23 Adjusted EBITDAX 2
EV / TTM Adjusted EBITDAX 2
EV / Q3 '23 Adjusted EBITDAX 2 Annualized
Annualized Current Dividend per Share 3
Implied Dividend Yield
Net Acres (36,661) 4
Eagle Ford 17%
Haynesville 6%
Haynesville 10%
Permian 29%
Bakken 41%
YE 2022 SEC PV-10 ($1,559 MM) 2
Eagle Ford 16%
Bakken 10%
DJ 6%
Permian
57%
As of
11/8/23
GRNT
$6.08
$820
$899
$307
$83
2.9x
2.7x
$0.44
7.2%
Q3 '23 Production
Eagle Ford 11%
Haynesville 22%
Bakken 10%
DJ 9%
Gas 50%
Capitalization
($MM)
Cash
RBL Balance ($275MM Borrowing Base 6)
Total Debt
Total Net Debt 2 / (Cash)
Net Debt 2 to/ TTM Adjusted EBITDAX ²
Elected RBL Commitment 6
Less: Borrowings & LOC
Plus: Cash
Total Liquidity 6
(26,433 Boe/d)
SEC Reserves Commodity Split
Permian 48%
●
Oil 50%
4. As of 9/30/2023.
5. Average Working Interest and Net Royalty Interest charts reflect a straight average of all wells included within our SEC Reserves Report as of 12/31/22.
6. Proforma for fall bank redetermination.
Appendix
DJ, 1.8%
Bakken, 3.9%
Average Working Interest 5
Permian, 9.0%
As of
9/30/23
$6
$85
$85
$79
0.26x
$240
($85)
$6
$161
Haynesville, 13.9%
DJ 7%
1.
Enterprise Value is calculated as the sum of total market capitalization as of 11/8/2023 and net debt as of 9/30/2023. Net debt is a non-GAAP financial measure. Please see the Appendix for a reconciliation to the nearest GAAP measure.
2. Non-GAAP financial measure. Please see the Appendix for a reconciliation to the nearest GAAP measure.
Based on last three dividends paid to date.
Eagle Ford, 15.2%
Average 8/8ths Net Royalty Interest 5
Permian, 75.4%
DJ, 78.8%
Bakken, 80.3%
Haynesville, 94.9%
Eagle Ford, 75.4%
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