Granite Ridge Resources

To provide superior returns via non-operated assets by becoming the premier non-operated energy company.

Granite Ridge Resources SWOT Analysis

Updated: October 3, 2025 • 2025-Q4 Analysis

How to Use This Analysis

This analysis for Granite Ridge Resources was created using Alignment.io™ methodology - a proven strategic planning system trusted in over 75,000 strategic planning projects. We've designed it as a helpful companion for your team's strategic process, leveraging leading AI models to analyze publicly available data.

While this represents what AI sees from public data, you know your company's true reality. That's why we recommend using Alignment.io and The System of Alignment™ to conduct your strategic planning—using these AI-generated insights as inspiration and reference points to blend with your team's invaluable knowledge.

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The Granite Ridge Resources SWOT analysis reveals a company skillfully navigating its unique position. Its core strengths—the capital-efficient non-operated model, low leverage, and diversified portfolio—are powerful assets for shareholder returns. However, this model's primary weakness is a fundamental lack of control, making it dependent on third-party operator performance and susceptible to their cost overruns. The key strategic imperative is to leverage its data-driven acquisition strength to achieve critical scale. By consolidating a fragmented market, Granite Ridge can further diversify its operator risk and enhance its market visibility. The greatest external threat remains commodity price volatility, demanding continued financial discipline. The path forward is clear: scale intelligently through acquisitions while maximizing cash flow to reward the investors who are backing this differentiated energy investment thesis. This focus will transform inherent weaknesses into manageable risks.

Viper Energy Partners Sitio Royalties Corp. Kimbell Royalty Partners Texas Pacific Land Corp Dorchester Minerals

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To provide superior returns via non-operated assets by becoming the premier non-operated energy company.

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Strengths

MODEL: Non-op structure yields high margins & low G&A ($1.91/Boe)
DIVERSIFICATION: Assets in 4 top basins reduce single-operator risk
BALANCE SHEET: Low leverage (Net Debt/EBITDAX ~0.4x) enables M&A
RETURNS: Strong dividend yield (~8-9%) attracts income investors
DATA: Proprietary system for underwriting thousands of opportunities

Weaknesses

CONTROL: Lack of operational control over development timing & costs
SCALE: Smaller production base vs larger E&Ps and royalty companies
COMMODITY: Unhedged strategy creates full exposure to price swings
VISIBILITY: Limited public float and analyst coverage post-SPAC
DEPENDENCY: Performance is tied to the skill of 3rd party operators

Opportunities

ACQUISITIONS: Consolidate fragmented non-op market via bolt-on deals
EFFICIENCY: Operators are driving down drilling times, boosting returns
PRICING: Favorable long-term outlook for oil & gas amid underinvestment
PARTNERSHIPS: Form JVs with operators to fund development projects
INTERNATIONAL: Potential future expansion into stable OECD basins

Threats

PRICES: High commodity price volatility directly impacts revenue/cash
REGULATION: Increased federal oversight on emissions, leasing, permits
COMPETITION: Private equity and peers bidding up asset valuations
INFLATION: Service cost inflation from operators passed through to GRNT
RATES: Higher interest rates increase cost of capital for future M&A

Key Priorities

ACQUIRE: Execute disciplined, accretive acquisitions to build scale
OPTIMIZE: Proactively manage portfolio and high-grade asset base
DIVERSIFY: Expand asset base to mitigate operator & basin concentration
RETURN: Maximize free cash flow for shareholder returns and deleveraging

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Granite Ridge Resources OKR

Updated: October 3, 2025 • 2025-Q4 Analysis

The Granite Ridge Resources OKR plan is a masterclass in focus and alignment. It directly translates the SWOT analysis into a clear, actionable roadmap. The objective 'SCALE INTELLIGENTLY' tackles the primary opportunity of consolidation, while 'FORTIFY PORTFOLIO' directly addresses the core weakness of operator dependency. 'MAXIMIZE RETURNS' crystallizes the company's ultimate purpose and value proposition to investors. The key results are specific, measurable, and ambitious, effectively linking strategic goals to tangible outcomes like capital deployment, divestitures, and cash flow growth. This plan provides the clarity and discipline needed to execute the company's vision and solidify its position as a premier non-operated energy company.

Viper Energy Partners Sitio Royalties Corp. Kimbell Royalty Partners Texas Pacific Land Corp Dorchester Minerals

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To provide superior returns via non-operated assets by becoming the premier non-operated energy company.

SCALE INTELLIGENTLY

Become the dominant non-op consolidator in premier basins.

ACQUIRE: Deploy $200M in capital for accretive acquisitions with an average IRR forecast above 25%
SCREEN: Increase the number of underwritten opportunities by 50% using our enhanced data platform
INTEGRATE: Achieve 90-day full integration of all new assets into our financial and land systems
DIVERSIFY: Ensure no single operator accounts for more than 20% of our total capital deployed this year

FORTIFY PORTFOLIO

Actively manage assets to maximize value and mitigate risk.

HIGH-GRADE: Divest $50M in non-core, lower-margin assets to recycle capital into higher-return areas
ANALYZE: Launch an AI-driven operator scorecard to rank all partners on efficiency and cost control
ENGAGE: Conduct portfolio reviews with our top 5 operators to align on development and cost strategy
MODEL: Reduce proved developed producing (PDP) reserve decline rate to below 18% through active mgmt

MAXIMIZE RETURNS

Convert every barrel produced into maximum shareholder value.

CASH FLOW: Increase free cash flow per share by 15% through cost discipline and production growth
DISTRIBUTE: Return at least 75% of post-dividend free cash flow to shareholders via buybacks/specials
EFFICIENCY: Maintain G&A costs below $2.00 per Boe to ensure best-in-class operational leverage
AWARENESS: Increase institutional investor ownership by 10% through targeted outreach and roadshows

METRICS

Net Production (Boe/d): 25,000
Free Cash Flow per Share: $1.50
Net Debt to EBITDAX Ratio: < 0.5x

VALUES

Discipline
Integrity
Collaboration
Value Creation

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Granite Ridge Resources Retrospective

AI-Powered Insights

Claude

Gemini

GPT

Granite Ridge Resources Q1 2024 Earnings Report and Press Release
Granite Ridge Resources FY2023 10-K SEC Filing
Granite Ridge Resources Investor Presentation (May 2024)
Public financial data from Yahoo Finance for GRNT (Market Cap, Stock Price)

Viper Energy Partners Sitio Royalties Corp. Kimbell Royalty Partners Texas Pacific Land Corp Dorchester Minerals

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To provide superior returns via non-operated assets by becoming the premier non-operated energy company.

Toggle Theme

What Went Well

PRODUCTION: Exceeded production guidance through strong well performance
ACQUISITIONS: Closed several accretive bolt-on acquisitions in Permian
RETURNS: Maintained strong dividend and executed on share buyback plan
COSTS: G&A expenses remained low, showcasing model's efficiency
BALANCE SHEET: Maintained low leverage providing financial flexibility

Not So Well

PRICING: Lower realized commodity prices impacted revenue year-over-year
LOE: Lease operating expenses from operators came in higher than expected
TIMING: Some operator-led projects experienced minor scheduling delays
GAS: Weak natural gas prices were a headwind for gas-heavy assets
HEDGING: Unhedged position led to full impact of lower spot prices

Learnings

OPERATORS: Top-tier operators consistently deliver better cost control
INFLATION: Service cost inflation is persistent and impacts well returns
DIVERSIFICATION: Multi-basin strategy helped offset regional price weakness
CASH FLOW: Disciplined capital allocation is critical in volatile markets
DATA: Continuous data ingestion is key to refining underwriting models

Action Items

DILIGENCE: Enhance operator cost-side diligence in acquisition models
PORTFOLIO: High-grade portfolio by divesting non-core, high-cost assets
DATA: Integrate real-time cost data into proprietary analysis platform
COMMUNICATE: Proactively communicate strategy to market to boost visibility
M&A: Continue to aggressively screen for value-accretive M&A deals

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Organization	SWOT Analysis	OKR Plan	Top 6	Retrospective

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Granite Ridge Resources Market

AI-Powered Insights

Claude

Gemini

GPT

Granite Ridge Resources Q1 2024 Earnings Report and Press Release
Granite Ridge Resources FY2023 10-K SEC Filing
Granite Ridge Resources Investor Presentation (May 2024)
Public financial data from Yahoo Finance for GRNT (Market Cap, Stock Price)

Founded: 2022 (via merger)
Market Share: <1% of total US production; niche non-op
Customer Base: Commodity purchasers, refineries
Category:
Oil, Gas E, P
SIC Code: 1311 Crude Petroleum and Natural Gas
NAICS Code: 211120 Crude Petroleum Extraction
Location: Dallas, Texas
Zip Code: 75201 Dallas, Texas
Congressional District: TX-30 DALLAS
Employees: 32

Competitors

Viper Energy Partners Request Analysis

Sitio Royalties Corp. Request Analysis

Kimbell Royalty Partners Request Analysis

Texas Pacific Land Corp Request Analysis

Dorchester Minerals Request Analysis

Products & Services

No products or services data available

Distribution Channels

Granite Ridge Resources Business Model Analysis

AI-Powered Insights

Claude

Gemini

GPT

Granite Ridge Resources Q1 2024 Earnings Report and Press Release
Granite Ridge Resources FY2023 10-K SEC Filing
Granite Ridge Resources Investor Presentation (May 2024)
Public financial data from Yahoo Finance for GRNT (Market Cap, Stock Price)

Problem

Direct E&P investing is capital intensive
High operational risk & overhead costs
Lack of asset and operator diversification

Solution

Provide public market access to E&P cash
Non-operated model with very low G&A
A professionally managed, diverse portfolio

Key Metrics

Net Production Volume (Boe/d)
Adjusted EBITDAX and Free Cash Flow
Reserve Replacement Ratio and F&D Costs

Unique

Data-driven underwriting at scale
Pure-play, diversified non-op model
Focus on shareholder returns over growth

Advantage

Proprietary asset evaluation database
Deal sourcing network and relationships
Agility and speed in transaction execution

Channels

Public Equity Markets (NYSE: GRNT)
Investor Relations and Conferences

Customer Segments

Retail and Institutional Investors
Income-focused and Value Funds

Costs

Lease Operating Expenses (LOE)
Production & Ad Valorem Taxes
General & Administrative (G&A) Expenses

Granite Ridge Resources Product Market Fit Analysis

Updated: October 3, 2025

Granite Ridge Resources offers a smarter way to invest in American energy. It provides diversified exposure to thousands of top-tier oil and gas wells without the high costs and risks of being an operator. This lean, data-driven model is designed to maximize free cash flow and deliver superior, risk-adjusted returns directly to shareholders through a consistent, strong dividend.

DIVERSIFIED PRODUCTION: Lowering risk.

DISCIPLINED GROWTH: Buying right.

SHAREHOLDER RETURNS: Maximizing cash.

Before State

Undiversified single-basin risk
High overhead of operated E&P models
Volatile, capital-intensive drilling

After State

Diversified cash flow from many wells
Lean, efficient capital allocation model
Capital flexibility and high returns

Negative Impacts

Concentrated geological & operational risk
High G&A costs erode shareholder returns
Direct exposure to drilling cost inflation

Positive Outcomes

Smoother production and revenue profile
Higher cash flow conversion to investors
Ability to scale without high fixed costs

Key Metrics

Net Production (Boe/d)

23,500 (Q1 '24)

Adjusted EBITDAX

$90.2M (Q1 '24)

Dividend Yield

~8-9%

Reserve Replacement Ratio > 100%

Requirements

Sophisticated asset evaluation tools
Strong industry network for deal flow
Disciplined capital deployment strategy

Why Granite Ridge Resources

Leverage data to find accretive deals
Partner with best-in-class operators
Return significant free cash flow

Granite Ridge Resources Competitive Advantage

Data-driven underwriting beats rivals
Non-op model offers superior flexibility
Scale provides diversification benefits

Proof Points

Consistent production growth since IPO
Maintained a strong dividend payout
Portfolio of 6,800+ wells in top basins

Granite Ridge Resources Market Positioning

AI-Powered Insights

Claude

Gemini

GPT

Granite Ridge Resources Q1 2024 Earnings Report and Press Release
Granite Ridge Resources FY2023 10-K SEC Filing
Granite Ridge Resources Investor Presentation (May 2024)
Public financial data from Yahoo Finance for GRNT (Market Cap, Stock Price)

Strategic pillars derived from our vision-focused SWOT analysis

Scale through data-driven, accretive acquisitions

Maintain a multi-basin, multi-operator portfolio

Maximize free cash flow for shareholder distributions

Leverage a low-cost G&A non-operated model

What You Do

Acquire and own non-operated interests in oil and gas wells.

Target Market

Investors seeking diversified energy exposure and cash flow.

Differentiation

Data-driven acquisition strategy
Low G&A overhead model

Revenue Streams

Sale of crude oil
Sale of natural gas and NGLs

Granite Ridge Resources Operations and Technology

AI-Powered Insights

Claude

Gemini

GPT

Granite Ridge Resources Q1 2024 Earnings Report and Press Release
Granite Ridge Resources FY2023 10-K SEC Filing
Granite Ridge Resources Investor Presentation (May 2024)
Public financial data from Yahoo Finance for GRNT (Market Cap, Stock Price)

Company Operations

Organizational Structure: Lean, centralized management team
Supply Chain: Reliant on operator's supply chain mgmt
Tech Patents: Proprietary data analytics platform
Website: https://www.graniteridge.com/

Top Clients

Board Members

Granite Ridge Resources Competitive Forces

Threat of New Entry

MEDIUM: Requires significant capital for acquisitions and deep technical expertise, but the non-op model has lower barriers than operating.

Supplier Power

LOW: Oilfield service providers (suppliers to operators) are fragmented, though subject to cyclical price power.

Buyer Power

LOW: Granite Ridge sells oil and gas as commodities into global markets where prices are set by supply/demand; no single buyer has power.

Threat of Substitution

MEDIUM: Long-term threat from renewable energy (solar, wind) and EVs is growing, but substitution for oil/gas is a multi-decade process.

Competitive Rivalry

HIGH: Intense competition from public/private non-op and royalty companies like Viper, Sitio for limited high-quality assets.

Analysis of AI Strategy

Updated: October 3, 2025 • 2025-Q4 Analysis

The Granite Ridge Resources AI SWOT analysis highlights a significant opportunity. The company's greatest asset, its proprietary performance database, is a perfect foundation for a powerful AI strategy. By leveraging AI for predictive underwriting and automated deal scouting, Granite Ridge can amplify its core competitive advantage and make faster, more accurate capital allocation decisions. The primary challenge is not technology, but talent and implementation. The company must invest in or partner for AI expertise to avoid being outmaneuvered by more tech-forward competitors. Success hinges on transforming their rich data repository from a static library into a dynamic, predictive engine. This will be the key to dominating the non-operated space in the coming decade, ensuring they consistently acquire the most accretive assets and deliver superior returns.

Viper Energy Partners Sitio Royalties Corp. Kimbell Royalty Partners Texas Pacific Land Corp Dorchester Minerals

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To provide superior returns via non-operated assets by becoming the premier non-operated energy company.

Strengths

DATA: Proprietary database of well performance is ideal for AI models
MODEL: Asset-light structure allows focus on tech vs. operations
AGILITY: Small team can adopt and integrate new AI tools quickly
FOCUS: Singular focus on asset evaluation is a clear AI use case

Weaknesses

TALENT: Lack of dedicated in-house AI/ML engineering expertise
SYSTEMS: Potential for legacy data infrastructure not built for AI
RELIANCE: Dependence on operator-provided data quality for AI inputs
BUDGET: Limited R&D budget for developing bespoke AI solutions

Opportunities

UNDERWRITING: AI-driven predictive analytics for faster, better A&D
SCOUTING: Use AI to identify and screen potential acquisition targets
OPERATORS: AI analysis to rank and predict operator performance
OPTIMIZATION: Forecast well interference and recommend spacing to ops

Threats

COMPETITION: Competitors with superior AI may win the best deals
SECURITY: AI systems and proprietary data are high-value cyber targets
BIAS: Flawed AI models trained on biased data lead to bad investments
COST: High cost of AI talent and cloud computing resources

Key Priorities

PREDICT: Develop AI models to predict well performance and returns
AUTOMATE: Automate initial screening of acquisition opportunities
RANK: Use AI to score and rank operator efficiency and effectiveness
INTEGRATE: Infuse AI insights into every capital allocation decision

Create professional SWOT analyses in minutes with our AI template. Get insights that drive real results.

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Granite Ridge Resources Financial Performance

AI-Powered Insights

Claude

Gemini

GPT

Granite Ridge Resources Q1 2024 Earnings Report and Press Release
Granite Ridge Resources FY2023 10-K SEC Filing
Granite Ridge Resources Investor Presentation (May 2024)
Public financial data from Yahoo Finance for GRNT (Market Cap, Stock Price)

Profit: FY 2023 Net Income: $181.7 Million

Market Cap: $1.3 Billion (as of Q2 2024)

Stock Performance

Annual Report: Available on company investor relations website

Debt: Net Debt: ~$150M (Q1 2024)

ROI Impact: Shareholder returns via dividends and buybacks

SWOT Index

Composite strategic assessment with 10-year outlook

/ 100

Niche Consolidator

ICM Index

STRATEGIC ADVISOR ASSESSMENT

Granite Ridge has a highly achievable, disciplined vision within its niche. The SWOT score is balanced, reflecting a solid model with inherent dependencies. OKRs are strong and category-shaping. High AI potential exists due to its data-centric model. The Iconic Index points to a solid, well-run company poised for steady consolidation and shareholder returns rather than exponential, market-redefining growth. The growth multiplier is constrained by the mature, cyclical nature of the E&P industry.

SWOT Factors

Upside: 69.3 Risk: 70.7

OKR Impact

AI Leverage

Top 3 Strategic Levers

ACCELERATE M&A: Achieve critical mass through consolidation

LEVERAGE AI: Turn proprietary data into a predictive edge

ENHANCE VISIBILITY: Attract a wider institutional investor base

AI Disclosure

This report was created using the Alignment Method—our proprietary process for guiding AI to reveal how it interprets your business and industry. These insights are for informational purposes only and do not constitute financial, legal, tax, or investment advice.

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