Granite Ridge Resources (GRNT)

The company’s portfolio is weighted toward oil, which is its primary source of revenue, and includes positions in the Permian Basin as well as other prolific onshore regions in the United States. By spreading capital across multiple operators, counties, formations, and development schedules, Granite Ridge aims to reduce reliance on any single project while still maintaining leverage to commodity prices and drilling activity.

Granite Ridge’s business is closely tied to the economics of US shale development. Cash flow depends on production volumes, realized oil and gas prices, operating costs, decline rates, and the pace at which its operating partners bring wells online. The non-operated approach can offer capital flexibility and diversification, but it also means the company has less direct control over timing, well design, and field-level decisions than a traditional operator.

For investors, Granite Ridge represents a publicly listed way to gain exposure to a diversified set of US upstream oil and gas assets, with particular sensitivity to crude oil markets and the performance of high-quality shale acreage.