Granite Ridge Resources Increased FY23 Midpoint Production Guidance To 23,250 Boe Per Day; Increased The Midpoint Of Total Capital Expenditures For FY23 By $55M-$350M
Portfolio Pulse from Benzinga Newsdesk
Granite Ridge Resources has increased its FY23 midpoint production guidance to 23,250 Boe per day, expecting an 18% midpoint annual production volume growth compared to 2022. The company also increased the midpoint of total capital expenditures for FY23 by $55 million to $350 million, primarily due to additional acquisitions. The company's third quarter results show a 23% increase in daily production levels and an 11% increase in net producing well count.
November 09, 2023 | 9:28 pm
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Granite Ridge Resources' increased FY23 production guidance and capital expenditures indicate strong growth prospects, which could positively impact its stock price.
Granite Ridge Resources' increased FY23 production guidance and capital expenditures reflect strong operational performance and strategic acquisitions, which are likely to boost investor confidence and potentially drive the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100