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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Granite Ridge Resources
Granite Ridge Resources (GRNT) investor relations material
Granite Ridge Resources Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary6 Nov, 2026
Executive summary
Q3 production rose 9% YoY to 34,641 Boe/d, with 54.7% oil; Adjusted EBITDAX reached a public-company record $107.3 million, up 35% QoQ.
Cash flow before working-capital changes was $96.6 million, covering $90.8 million of drilling and completion capital; Adjusted Free Cash Flow was $13.7 million.
Financial highlights
Q3 oil and natural gas sales were $177.2 million, up 57% YoY from $112.7 million; net operating income was $59.3 million versus $19.6 million.
GAAP net loss was $10.1 million, or $0.08 per diluted share, including a $52.7 million commodity-derivative loss; Adjusted Net Income was $22.6 million, or $0.17 per diluted share.
Operating cash flow was $87.7 million, including $8.9 million in working-capital changes; 9M operating cash flow was $201.6 million versus $231.9 million.
Q3 capital spending totaled $109.9 million: $90.8 million for drilling and completions and $19.0 million for acquisitions.
Outlook and guidance
FY2026 production guidance is 34,000–35,000 Boe/d, with 51.5%–52.5% oil; development capital is $300–$330 million and total capital is $345–$385 million.
FY2026 guidance includes $45–$55 million in acquisition capital, LOE of $9.25–$9.75/Boe, production and ad valorem taxes of 6%–7% of sales, and cash G&A of $28–$30 million.
Management expects 2027 production growth of ~10%, weighted toward oil; hedge roll-off and growth are expected to support Adjusted Free Cash Flow that covers the dividend at current strip prices.
2027 Adjusted EBITDAX illustrations at $70–$90 WTI are scenarios, not guidance.
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Latest events from Granite Ridge Resources
- Targeting cash flow positivity by 2027 with disciplined growth and increased public float.GRNT
EnerCom Denver – The Energy Investment Conference - Q2 2026 delivered higher production, strong earnings, and a 2027 free cash flow inflection target.GRNTQ2 2026
- Strategic shift to private partnerships and controlled capital aims to boost returns and valuation.GRNTNoble Capital Markets Virtual Equity Conference
- Shareholders will vote virtually on reincorporation from Delaware to Texas on August 4, 2026.GRNTProxy filing
- Vote proposed to reincorporate from Delaware to Texas, with Board unanimous support.GRNTProxy filing
- Transition to operator partnerships and free cash flow aims to close valuation gap in 2024-2027.GRNTSidoti Small-Cap Virtual Investor Conference
- Proposal seeks shareholder approval to reincorporate from Delaware to Texas for legal and governance alignment.GRNTProxy filing
- Production up 18% year-over-year, but non-cash hedge losses drove a $47M net loss.GRNTQ1 2026
- 2025 saw 27–28% production growth, strong cash flow, and a clear path to free cash flow in 2027.GRNTQ4 2025
Next Granite Ridge Resources earnings date
18th Annual Southwest IDEAS Conference18 Nov, 2026
Granite Ridge Resources
Next Granite Ridge Resources earnings date
18th Annual Southwest IDEAS Conference18 Nov, 2026
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Frequently asked questions
Granite Ridge Resources Inc. (GRNT) is a non-operated oil and gas exploration and production company. It has a diversified portfolio of production and top-tier acreage through partnerships with proven operators across five basins: Permian, Eagle Ford, Bakken, Haynesville, and DJ Basin. The company is a hybrid entity, combining the asset-based approach of an oil and gas company with the investment strategy of a private equity firm. This positioning aims to tighten the outcomes in oil and gas investing and generate asymmetric upside through high diversification. By not operating wells directly, Granite Ridge focuses on creating value through investments while avoiding the high overhead typical of traditional oil and gas operators. The company is headquartered in Dallas, Texas, and its shares are listed on the NYSE.