Granite Ridge Resources Q4 Earnings Call Highlights: Strong Production Growth, Shifting Strategy, and 2027 Free Cash Flow Target

Granite Ridge Resources reported a 27% YoY increase in average daily production to 35,100 BOE/d in Q4 2025, with full-year oil and gas sales of $450.3 million and Adjusted EBITDAX of $315 million. The company is shifting to a Permian-focused, capital-efficient partnership model, targeting 25% full-cycle returns and sustainable free cash flow in 2027. Management expects moderated growth in 2026 with development capex of $300-330 million and plans to maintain the $0.11 quarterly dividend.