10-Q Filing

GRANITE RIDGE RESOURCES, INC. CIK: 1928446 Q3 2022

Filing Information

Form Type	10-Q
Accession Number	`0001558370-22-017579`
Period End Date	20220930
Filing Date	20221114
Fiscal Year	2022
Fiscal Period	Q3
XBRL Instance	tmb-20220930x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 48 Cash Flow Statement 55 Stockholders Equity 25

Balance Sheet 53 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$6.41M	USD	Point-in-time
Cash	`Cash`	$7.32M	USD	Point-in-time
Revenue receivable	`ReceivablesLongTermContractsOrPrograms`	$54.32M	USD	Point-in-time
Revenue receivable	`ReceivablesLongTermContractsOrPrograms`	$32.70M	USD	Point-in-time
Advances to operators	`AdvancesToOperators`	$37.15M	USD	Point-in-time
Advances to operators	`AdvancesToOperators`	$26.23M	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$4.10M	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$70.00K	USD	Point-in-time
Other Receivable	`AccountsAndOtherReceivablesNetCurrent`	$469.00K	USD	Point-in-time
Derivative assets	`DerivativeAssetsCurrent`	$4.38M	USD	Point-in-time
Contributions receivable	`DueFromRelatedPartiesCurrent`	$94.00K	USD	Point-in-time
Contributions receivable	`DueFromRelatedPartiesCurrent`	$10.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$95.45M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$77.80M	USD	Point-in-time
Oil and gas properties, successful efforts method	`OilAndGasPropertySuccessfulEffortMethodNet`	$550.16M	USD	Point-in-time
Oil and gas properties, successful efforts method	`OilAndGasPropertySuccessfulEffortMethodNet`	$376.66M	USD	Point-in-time
Accumulated depletion	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$98.27M	USD	Point-in-time
Accumulated depletion	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$168.30M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$278.39M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$381.86M	USD	Point-in-time
Derivative assets	`DerivativeAssetsNoncurrent`	$812.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$356.19M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$478.12M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$20.59M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$6.64M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$3.94M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$3.95M	USD	Point-in-time
Credit facilities	`LinesOfCreditCurrent`	$29.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$40.53M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$400.00K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$2.24M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$963.00K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$2.24M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.36M	USD	Point-in-time
Total Liabilities	`Liabilities`	$26.78M	USD	Point-in-time
Total Liabilities	`Liabilities`	$41.89M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
General partner	`GeneralPartnersCapitalAccount`	$15.46M	USD	Point-in-time
General partner	`GeneralPartnersCapitalAccount`	$41.61M	USD	Point-in-time
Limited partners	`LimitedPartnersCapitalAccount`	$409.73M	USD	Point-in-time
Limited partners	`LimitedPartnersCapitalAccount`	$298.83M	USD	Point-in-time
Total partners' capital	`PartnersCapital`	$255.10M	USD	Point-in-time
Total partners' capital	`PartnersCapital`	$451.34M	USD	Point-in-time
Total partners' capital	`PartnersCapital`	$178.43M	USD	Point-in-time
Total partners' capital	`PartnersCapital`	$229.98M	USD	Point-in-time
Total partners' capital	`PartnersCapital`	$314.30M	USD	Point-in-time
Total partners' capital	`PartnersCapital`	$408.61M	USD	Point-in-time
Total partners' capital	`PartnersCapital`	$342.14M	USD	Point-in-time
Total partners' capital	`PartnersCapital`	$193.94M	USD	Point-in-time
TOTAL LIABILITIES AND PARTNERS' CAPITAL	`LiabilitiesAndStockholdersEquity`	$478.12M	USD	Point-in-time
TOTAL LIABILITIES AND PARTNERS' CAPITAL	`LiabilitiesAndStockholdersEquity`	$356.19M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Oil, natural gas, and related product sales, net	`RevenueFromContractWithCustomerIncludingAssessedTax`	$142.63M	USD	3 Qtrs
Oil, natural gas, and related product sales, net	`RevenueFromContractWithCustomerIncludingAssessedTax`	$90.19M	USD	1 Quarter
Oil, natural gas, and related product sales, net	`RevenueFromContractWithCustomerIncludingAssessedTax`	$55.72M	USD	1 Quarter
Oil, natural gas, and related product sales, net	`RevenueFromContractWithCustomerIncludingAssessedTax`	$263.26M	USD	3 Qtrs
Lease operating expenses	`ResultsOfOperationsProductionOrLiftingCosts`	$8.41M	USD	3 Qtrs
Lease operating expenses	`ResultsOfOperationsProductionOrLiftingCosts`	$3.62M	USD	1 Quarter
Lease operating expenses	`ResultsOfOperationsProductionOrLiftingCosts`	$6.37M	USD	1 Quarter
Lease operating expenses	`ResultsOfOperationsProductionOrLiftingCosts`	$15.84M	USD	3 Qtrs
Production taxes	`TaxesExcludingIncomeAndExciseTaxes`	$7.74M	USD	3 Qtrs
Production taxes	`TaxesExcludingIncomeAndExciseTaxes`	$2.51M	USD	1 Quarter
Production taxes	`TaxesExcludingIncomeAndExciseTaxes`	$5.05M	USD	1 Quarter
Production taxes	`TaxesExcludingIncomeAndExciseTaxes`	$14.63M	USD	3 Qtrs
Depletion and accretion expense	`DepletionAndAccretionExpense`	$39.87M	USD	1 Quarter
Depletion and accretion expense	`DepletionAndAccretionExpense`	$45.80M	USD	3 Qtrs
Depletion and accretion expense	`DepletionAndAccretionExpense`	$15.79M	USD	1 Quarter
Depletion and accretion expense	`DepletionAndAccretionExpense`	$70.53M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.98M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.76M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.88M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.78M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$53.06M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$66.92M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$23.68M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$105.88M	USD	3 Qtrs
Net operating income (loss)	`OperatingIncomeLoss`	$157.39M	USD	3 Qtrs
Net operating income (loss)	`OperatingIncomeLoss`	$32.03M	USD	1 Quarter
Net operating income (loss)	`OperatingIncomeLoss`	$75.71M	USD	3 Qtrs
Net operating income (loss)	`OperatingIncomeLoss`	$37.13M	USD	1 Quarter
Gain/(loss) on derivative contracts	`DerivativeGainLossOnDerivativeNet`	$-19.15M	USD	3 Qtrs
Gain/(loss) on derivative contracts	`DerivativeGainLossOnDerivativeNet`	$-18.11M	USD	3 Qtrs
Gain/(loss) on derivative contracts	`DerivativeGainLossOnDerivativeNet`	$6.08M	USD	1 Quarter
Gain/(loss) on derivative contracts	`DerivativeGainLossOnDerivativeNet`	$-6.56M	USD	1 Quarter
Interest expense	`InterestExpense`	$353.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$476.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$926.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.19M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-6.91M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-19.04M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-20.34M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$5.61M	USD	1 Quarter
NET INCOME/(LOSS)	`NetIncomeLoss`	$66.47M	USD	1 Quarter
NET INCOME/(LOSS)	`NetIncomeLoss`	$137.05M	USD	3 Qtrs
NET INCOME/(LOSS)	`NetIncomeLoss`	$27.84M	USD	1 Quarter
NET INCOME/(LOSS)	`NetIncomeLoss`	$16.04M	USD	1 Quarter
NET INCOME/(LOSS)	`NetIncomeLoss`	$56.67M	USD	3 Qtrs
NET INCOME/(LOSS)	`NetIncomeLoss`	$42.73M	USD	1 Quarter
NET INCOME/(LOSS)	`NetIncomeLoss`	$15.51M	USD	1 Quarter
NET INCOME/(LOSS)	`NetIncomeLoss`	$25.12M	USD	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income/(loss)	`ProfitLoss`	$56.67M	USD	3 Qtrs
Net income/(loss)	`ProfitLoss`	$137.05M	USD	3 Qtrs
Depletion and accretion expense	`DepletionAndAccretionExpense`	$39.87M	USD	1 Quarter
Depletion and accretion expense	`DepletionAndAccretionExpense`	$45.80M	USD	3 Qtrs
Depletion and accretion expense	`DepletionAndAccretionExpense`	$15.79M	USD	1 Quarter
Depletion and accretion expense	`DepletionAndAccretionExpense`	$70.53M	USD	3 Qtrs
Change in unrealized (gain) loss on derivative contracts	`ChangeInUnrealizedGainLossOnDerivativeContracts`	$-11.01M	USD	3 Qtrs
Change in unrealized (gain) loss on derivative contracts	`ChangeInUnrealizedGainLossOnDerivativeContracts`	$5.60M	USD	3 Qtrs
Amortization of loan origination costs	`AmortizationOfFinancingCosts`	$62.00K	USD	3 Qtrs
Amortization of loan origination costs	`AmortizationOfFinancingCosts`	$31.00K	USD	3 Qtrs
Revenue receivable	`IncreaseDecreaseInRevenuesReceivable`	$21.63M	USD	3 Qtrs
Revenue receivable	`IncreaseDecreaseInRevenuesReceivable`	$22.94M	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$4.03M	USD	3 Qtrs
Other assets	`PeriodChangeInOtherCurrentAssets`	$469.00K	USD	3 Qtrs
Other assets	`PeriodChangeInOtherCurrentAssets`	$-469.00K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.80M	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$2.81M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$179.66M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$91.90M	USD	3 Qtrs
Acquisition of proved oil and gas properties	`PaymentsToAcquireOilAndGasProperty`	$31.26M	USD	3 Qtrs
Acquisition of proved oil and gas properties	`PaymentsToAcquireOilAndGasProperty`	$67.01M	USD	3 Qtrs
Proceeds from the disposal of oil and gas properties	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	$3.04M	USD	3 Qtrs
Proceeds from the disposal of oil and gas properties	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	$741.00K	USD	3 Qtrs
Refund of advances to operators	`ProceedsFromAdvancesToOperators`	$971.00K	USD	3 Qtrs
Refund of advances to operators	`ProceedsFromAdvancesToOperators`	$2.30M	USD	3 Qtrs
Development of oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$121.11M	USD	3 Qtrs
Development of oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$63.11M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-124.79M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-150.66M	USD	3 Qtrs
Proceed from borrowing	`ProceedsFromLongTermLinesOfCredit`	$46.00M	USD	3 Qtrs
Proceed from borrowing	`ProceedsFromLongTermLinesOfCredit`	$16.00M	USD	3 Qtrs
Repayments of borrowing	`RepaymentsOfLongTermLinesOfCredit`	$22.00M	USD	3 Qtrs
Repayments of borrowing	`RepaymentsOfLongTermLinesOfCredit`	$46.00M	USD	3 Qtrs
Partners' contributions, net of change in contributions receivable	`ProceedsFromPartnershipContribution`	$20.07M	USD	3 Qtrs
Partners' contributions, net of change in contributions receivable	`ProceedsFromPartnershipContribution`	$84.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-29.92M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$44.07M	USD	3 Qtrs
Net increase/(decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-909.00K	USD	3 Qtrs
Net increase/(decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$11.19M	USD	3 Qtrs
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.64M	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.32M	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.41M	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.83M	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.64M	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.32M	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.41M	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.83M	USD	Point-in-time
Cash paid during the year for interest	`InterestPaidNet`	$317.00K	USD	3 Qtrs
Cash paid during the year for interest	`InterestPaidNet`	$392.00K	USD	3 Qtrs
Oil and natural gas property development costs in accrued expenses	`AccruedOilAndNaturalGasDevelopmentExpenses`	$561.00K	USD	3 Qtrs
Oil and natural gas property development costs in accrued expenses	`AccruedOilAndNaturalGasDevelopmentExpenses`	$15.76M	USD	3 Qtrs
Acquired and assumed asset retirement obligations	`AcquiredAndAssumedAssetRetirementObligations`	$633.00K	USD	3 Qtrs
Revision of asset retirement costs	`AssetRetirementObligationAccretionExpense`	$507.00K	USD	3 Qtrs
Advances to operators applied to development of oil and natural gas properties	`AdvancesToOperatorsAppliedToDevelopmentProperties`	$54.15M	USD	3 Qtrs
Advances to operators applied to development of oil and natural gas properties	`AdvancesToOperatorsAppliedToDevelopmentProperties`	$24.88M	USD	3 Qtrs

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Balance at period beginning	`PartnersCapital`	$255.10M	USD	Point-in-time
Balance at period beginning	`PartnersCapital`	$451.34M	USD	Point-in-time
Balance at period beginning	`PartnersCapital`	$178.43M	USD	Point-in-time
Balance at period beginning	`PartnersCapital`	$229.98M	USD	Point-in-time
Balance at period beginning	`PartnersCapital`	$314.30M	USD	Point-in-time
Balance at period beginning	`PartnersCapital`	$408.61M	USD	Point-in-time
Balance at period beginning	`PartnersCapital`	$342.14M	USD	Point-in-time
Balance at period beginning	`PartnersCapital`	$193.94M	USD	Point-in-time
Net income/(loss)	`NetIncomeLoss`	$66.47M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$137.05M	USD	3 Qtrs
Net income/(loss)	`NetIncomeLoss`	$27.84M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$16.04M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$56.67M	USD	3 Qtrs
Net income/(loss)	`NetIncomeLoss`	$42.73M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$15.51M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$25.12M	USD	1 Quarter
Partners' contributions	`PartnersCapitalAccountContributions`	$20.00M	USD	1 Quarter
Balance at period end	`PartnersCapital`	$255.10M	USD	Point-in-time
Balance at period end	`PartnersCapital`	$451.34M	USD	Point-in-time
Balance at period end	`PartnersCapital`	$178.43M	USD	Point-in-time
Balance at period end	`PartnersCapital`	$229.98M	USD	Point-in-time
Balance at period end	`PartnersCapital`	$314.30M	USD	Point-in-time
Balance at period end	`PartnersCapital`	$408.61M	USD	Point-in-time
Balance at period end	`PartnersCapital`	$342.14M	USD	Point-in-time
Balance at period end	`PartnersCapital`	$193.94M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.