Thank you to by lead the you, honored I'm everyone to attending eager and our seize have to I'm Scott, inaugural today's for call. opportunities selected environment. Ridge thank and to Granite and energy earnings created Granite strategy been execute Ridge's
in the secure, and rewarding offering responsibly. reliable oil Exchange. invest and company and value for top-tier operators. full for We and the Ridge a cycle, Granite GRNT are New and safely proven significant partnership provide and Ford, Eagle DJ We in team part Resources, and We in the energy generating oil production by a under acreage on Haynes portfolio Permian, its investors risk-adjusted ticker by experience Stock create sustainable, premier trades by public Ridge value with gas of to our returns playing Bakken, across our a company. to a which a sector, you to is gas introduce the new production non-operated exploration York excited Granite opportunity, and diversified
We are well-positioned shareholders. to create substantial value for
felt to Granite Granite distinct me peers Energy Partners of Corporation, new are ticker as most the purpose formed traded across time Ridge. was give Executive an debuted was Stock from was business the we X,XXX special to that Partnering sector, in its institutional Grey an quite on ultimately business XXth. form in introduction and York public bringing ENPC of Granite most a enter a first Grey Exchange over Ridge markets born Ridge non-op you to we it to accumulated New the goal on a ENPC. three and and October sector. are XXXX wells partner out As overview in Resources, the Rock short with our capital that of interest combination the funds. was firm business let and opportune private Grey of and acquisition entity Network the combination Rock under a an with The the successful with Rock combination equity it of
In we Granite So, Ridge? the have two essence, what is sides to house.
operator, across is hydrocarbon cash first type. generating The base basin that asset a is and diversified flow
fund, sheet. by attractive business opportunities offers a dividend investors leverages alignment equity attractive a analytics, dividend data with strong and similar real cash provide a a mousetrap time but and return flows is private tier, Combined, in investment initiatives. quality investor top exposure allocate that fortress an second high proven private basins, yield flow operators often quarterly across balance to shareholder development will liquidity, long-term underpinned cash The to the and and that daily Ridge Granite and
Let discuss with very me facts some feel go of is We combination. basic this over more no later. we'll Granite begins and debt. the of important it Ridge business the
XX.X discuss more details structure We million SPAC later. Granite million with outstanding, a sponsors. warrants of this Tyler and XXX specs, outstanding for most have approximately downside will and the shares unlike protection Ridge limited in the only has clean
upstream it owned, under Furthermore, built for most as and continue Granite offering that on growth. to at the the both Ridge and continue Ridge areas both is a build making some these Permian, of operators. consolidating capture to best private Across Granite we premier giving Ridge leverage are a of and years. asset small level to core believe public's for public unique the the our to believe to will consolidation, investor differentiated in best I we number right opportunity with operators investors by the Granite is lot non-op exposure exposure difficult of private the at space in for strategy consolidators, is non-operated Our and the only and has assets. coming exclusively public to vehicle drilling the particularly properties. a public the a basins privately We inventory access mention through low sector which the under is expect operators, private, operators. provide focus value
strategy. now allocation Let our capital highlight me
sustainable in at framework We capital of Granite a have return Ridge. place
million balance per our sheet fortress cash significant implemented X that Our structure This a strategy. potential be shareholders Granite We've less upside provide framework cash to and EBITDA. to returns growth Ridge low-cost sustain of to strong with X% through provides times will anticipated annum allow roughly at than aggregation flow. prices operations dividend of current $XX leverage
comfortable am higher a turn experiencing at I price less much environments half So or leverage of more we're today. like
allows be like more equity less an year. buy times make to due gives earning focusing nearly by capital for and One trusted production the of to like shareholders be return to but I'd place bad. deal like be stake evaluate stands our asset zero the opportunities generated what overhang we but drilling relationships deploy earlier marketed excess market higher our right our to us flow As to term prioritize our business debt our by capital previously noted, about and lumpy, in are cash talk wells Denver, tied timing we banker a that That Permian. on flexibility cash this third over diversity to me return shareholders. the CapEx risk reduce two immediate robust-than-expected only manage stockholder. CapEx. in sooner; we $XX on near the of to In a These our the from in us during a two, opportunities longer-term development built to hydrocarbon and partner that We comfortably of added and on can as wells support thing and our existing without relatively mentioned being quarter we'd Gray it's most more highest rather currently increasing with flow means rigs we’ll One, things: bit well more opportunities is to the mousetrap out our controlling production saying, more And future, times focus where on outstanding. or decade willing that the not to to offer one-half of has may million go good us we putting able the and This not Midland pay counterparty pipeline. it put bias. more production capital spent on of the are. deals, are opportunities to about I necessarily the quarter, allows to have of net in deeper accomplished Rock, and In the from prices, currently, is a over to consistently and strategy
per of While CapEx X.X by wells the That quarter expected our increased to at drilling XX.X still and not production or for third XX,XXX either the in early equivalent, on of most entry oil. barrels last until to of net production. XX% progress been CapEx completion of day put oil of roughly which went That net that quarter is XXXX. since which quarter-end, fourth over $XX year have of million spend production generate said, to or from XX% is cost
production in the given equivalent on fourth as press release, some delayed a potentially As day our and bringing constraints labor supply may thousand bit mentioned September few in see operators, quarter pullback wells per are line. of a in of we barrel a
to However, we volumes early next expect year. see those
fresh-off the formed Board which governance a We meaningful XXXX that newly meeting. we on a have plans has business ESG this first that diverse strong meeting Ridge. be metrics, have fortunate and risks and on the company, not keen that will many our approved are Board tasks at Granite of our mainly in focus administrative to at focused of a managing capital did are We and reducing
will quarter I CFO, We that should strategy. early levels belief Ridge's will XXXX service forma be our our pro hand our point, results Farquharson XXXX we fourth activity release a may core elements quarter this Currently, it to augmented results combination with along and expect next that At aggregation activity year. on combined that Granite the guide is basis. our business Tyler our but to it to guidance of off year, summarize a our through third next