Granite Ridge Resources Inc. reported its first quarter 2025 financial and operating results, highlighting a significant increase in daily production, which grew by 23% to 29,245 barrels of oil equivalent per day, compared to 23,842 Boe per day in the first quarter of 2024. The company reported a net income of $9.8 million, or $0.07 per diluted share, a decrease from the prior year's $16.2 million, or $0.12 per diluted share. Adjusted Net Income (non-GAAP) was $28.9 million, or $0.22 Adjusted Earnings Per Diluted Share (non-GAAP). Granite Ridge generated $91.4 million of Adjusted EBITDAX (non-GAAP) and declared a quarterly dividend of $0.11 per share of common stock. The company invested $71.4 million in development capital expenditures and $34.4 million in acquisition capital to secure high-quality drilling opportunities. Additionally, Granite Ridge placed 13.7 net wells online. The company maintained a Net Debt to Trailing Twelve Months Adjusted EBITDAX (non-GAAP) ratio of 0.7x. Following the quarter's end, Granite Ridge and its lenders agreed to increase the company's borrowing base to $375.0 million, resulting in total pro forma liquidity of $140.8 million as of March 31, 2025.