Granite Ridge Resources reports Q4 total prouction 26K BOEPD

Granite Ridge Resources (GRNT) reported oil production for the quarter averaged approximately 12 thousand barrels of oil per day. Reports total proved reserves at quarter end of 27,317 Mbo of oil, 156,928 MMcf of gas and 53,472 Mboe. On December 21, 2023, Granite Ridge closed on the sale of certain of its Permian Basin assets to Vital Energy (VTLE) for consideration of 561,752 shares of Vital Energy’s common stock and 541,155 shares of Vital Energy’s 2.0% cumulative mandatorily convertible preferred securities. The assets sold consisted of approximately 1,658 net acres and 45 gross producing wells in the Permian Basin.