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May 2023 Investor Presentation – Granite Ridge Resources Inc.

Granite Ridge Resources Inc. · May 30, 2023 · 31 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 1
    GRANITE RIDGE RESOURCES I N V E S T O R P R E S E N T A T I O N M A Y 2 0 2 3
  2. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 2
    Q123 RESULTS & FY23 GUIDANCE
  3. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 3
    Results & Guidance Executive Summary Strategy & Execution Appendix 1Q 23 Highlights Q1 23 TTM Paid dividend of 15MM Production Initiated 50MM stock Avg Daily Production (Boe/d) 23,167 21,578 buyback in 4Q 22 and % Oil 46% 49%…
  4. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 4
    Results & Guidance Executive Summary Strategy & Execution Appendix 2023 Guidance Update Original 2023 Updated 2023 Net Production (Boe/d) 20,500 22,500 21,000 23,000 Oil % of Production 50% 49% Opportunity Capture and Proved 45 45…
  5. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 5
    EXECUTIVE SUMMARY
  6. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 6
    Key Investment Highlights Non-Op A Better Way to Invest in Oil & Gas Access to Private Operators Decreased risk participate with a smaller piece Broaden exposure significant high-quality of a larger number of wells inventory is in…
  7. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 7
    Results & Guidance Executive Summary Strategy & Execution Appendix Corporate Philosophy Return Capital to Stockholders Cornerstone of a sustainable, resilient business, demonstrated by quarterly dividend and opportunistic buybacks…
  8. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 8
    Results & Guidance Executive Summary Strategy & Execution Appendix Benefits of Non-Op Granite Ridge increases asset diversity and scales overhead by investing in a smaller piece of a larger number of high-graded wells drilled by…
  9. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 9
    Results & Guidance Executive Summary Strategy & Execution Appendix Strong Liquidity & Conservative Balance Sheet Key Company Statistics Capitalization As of As of 5/10/23 (MM, except per share data) (MM) 3/31/23 Ticker GRNT Cash…
  10. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 10
    Results & Guidance Executive Summary Strategy & Execution Appendix Scaled, Diversified Asset Base Bakken: 10% of PV-10 1 DJ: 7% of PV-10 1 LTM Spuds 2: 34 of Wells in Process 3: 14 LTM Spuds 2: 55 Net acreage 4,5: 15,030 of Wells…
  11. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 11
    Results & Guidance Executive Summary Strategy & Execution Appendix Compelling Value Opportunity Yield: Robust & Durable 1 Valuation: Cheap Relative to Peer Group 1,2,3 7.9% 4.0x EV / TTM Adjusted 3.8x 3.4x Yield % EBITDA…
  12. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 12
    Results & Guidance Executive Summary Strategy & Execution Appendix Opportunity Set Overview Average Average GRNT Strategy Format Investment Type Investment Working Interest Core growth engine to consolidate the fragmented…
  13. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 13
    Results & Guidance Executive Summary Strategy & Execution Appendix Burgers & Beer: Opportunity + Proven Growth Est. 2022 Shale D&C Capex Spending of 100 Billion 1,2 Lookback: 2022 GRNT Opportunity Evaluations (BN) Publicly Traded…
  14. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 14
    Results & Guidance Executive Summary Strategy & Execution Appendix Strategic Partnerships: How & Why Creating Public Investor Access to the Private Upstream Market Declining fundraising and concentrated investments by private equity…
  15. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 15
    STRATEGY & EXECUTION
  16. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 16
    Results & Guidance Executive Summary Strategy & Execution Appendix Capital Allocation Framework Capital Allocation Strategy Prioritize Highest Shareholder Returns Sources Uses Pursue burgers & beer Responsible opportunities and…
  17. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 17
    Results & Guidance Executive Summary Strategy & Execution Appendix Rigorous Deal Sourcing & Evaluation Process 01 02 03 04 05 Business Development Deal Sourcing Initial Screen On Detailed Engineering Final Negotiations Basin, Size,…
  18. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 18
    Results & Guidance Executive Summary Strategy & Execution Appendix Organic Growth Fueled by Burgers & Beer CAPITAL DEPLOYED (MM) Opportunity Capture Development 279 223 182 114 114 108 92 67 25 26 Year 2014 2015…
  19. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 19
    Results & Guidance Executive Summary Strategy & Execution Appendix Production Growth & Basin Entry 25,000 20,000 15,000 10,000 5,000 1 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023E Annual Boe/d…
  20. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 20
    APPENDIX
  21. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 21
    Results & Guidance Executive Summary Strategy & Execution Appendix Hedging Oil 2Q '23 3Q '23 4Q '23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 Collars Volume (Bo/d) 205 528 319 1,566 1,383 1,245 1,129 - Ceiling 81.60 81.60 81.60 78.13 78.13 78.13…
  22. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 22
    Results & Guidance Executive Summary Strategy & Execution Appendix Share Ownership An Improving Vehicle for Investors Reducing Concentrated PE Ownership Grey Rock distributed 24.3MM or 19% of its shares from 10/24/2022 to…
  23. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 23
    Results & Guidance Executive Summary Strategy & Execution Appendix YE2022 SEC Reserves Summary 1 Reserve Category Oil, MBbls Gas, MMcf Equivalent, MBoe PV-10, M PDP 15,376 89,418 30,279 1,008,786 PDNP 338 1,616 607 21,779 PUD…
  24. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 24
    Results & Guidance Executive Summary Strategy & Execution Appendix Highly Diversified Upstream Portfolio Basin Operator Sample % Private 1 Oil 1 Gas 1 Permian 49% 60% 40% DJ 1% 33% 67% Bakken 31% 76% 24% Eagle Ford…
  25. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 25
    Results & Guidance Executive Summary Strategy & Execution Appendix Non-GAAP Reconciliation of Adjusted EBITDAX M 1Q 23 1Q 22 TTM FY 22 Net income 36,866 32,444 266,766 262,344 Interest expense 339 525 1,803 1,989 Income tax…
  26. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 26
    Results & Guidance Executive Summary Strategy & Execution Appendix Non-GAAP Reconciliation of Net Debt M 3/31/2023 12/31/2022 12/31/2021 Long-term debt 25,000 1,100 Plus: Current portion of long-term 50,000 debt Less: Cash…
  27. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 27
    Results & Guidance Executive Summary Strategy & Execution Appendix Non-GAAP Reconciliation of PV-10 M FY 22 FY 21 FY 20 Pre-tax present value of estimated future net revenues (Pre-Tax PV10%) 1,559,123 778,230 197,146 Future income…
  28. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 28
    Results & Guidance Executive Summary Strategy & Execution Appendix Historical Realized Pricing Realized Oil Pricing vs. NYMEX WTI 1 104% Permian 102% Bakken 100% Eagle Ford 98% 96% 94% DJ 93% 92% 90% J-21 F-21 M-21 A-21…
  29. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 29
    Results & Guidance Executive Summary Strategy & Execution Appendix Commitment to Strong ESG Stewardship Granite Ridge partners with operators that are proven and responsible stewards. COP OAS PDCE DVN EOG Dedicated ESG Section of…
  30. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 30
    Disclaimer FORWARD-LOOKING STATEMENTS This investor presentation contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 (the…
  31. May 2023 Investor Presentation – Granite Ridge Resources Inc. – slide 31
    Disclaimer INDUSTRY AND MARKET DATA The information, data and statistics contained herein are derived from various internal and external third-party sources. While Granite Ridge believes such third-party information is reliable, there…

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