Mentioned on podcast; Seeking alpha article (new)
https://seekingalpha.com/article/4656757-granite-ridge-resources-debt-remains-reasonable-despite-spending-to-grow-production
and this
https://seekingalpha.com/article/4667634-granite-ridge-resources-pre-announces-q4-beat-and-offers-positive-operations-update
Interesting;
4Q23 Asset Sale to Vital Energy (VTLE)~ Cash Flow Acceleration Event:
Granite sold 1,658 net acres with 9.9 net producing wells in the Permian to Vital Energy in exchange for 561,752 VTLE common shares and 541,155 VLTE 2.0% preferred (or about $47 mm). We don't know the associated volumes with the sale, but our 2024 volumes for modeling purposes were already conservative, and we've included the VLTE securities in the cash and marketable securities line for now in the cheat sheet below. We don't expect GRNT to a long term Vital holder. Management summed this deal up nicely by stating, "This transaction demonstrates one of the many ways to win in the non-op model, in this case selling at an operator premium due to a long-term Strategic Partnership with the Henry family. While we are not typically a seller, the consideration offered was attractive, and the acceleration of cash flow from these producing assets will allow us to compound returns for our investors by recycling capital into development opportunities with higher rates of return." This aligns well with management's past commentary regarding high-grading and capital efficiency.
So you also get a VTLE exposure of 562 k shares