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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:      
Net income $ 81,099 $ 262,344 $ 108,459
Adjustments to reconcile net income to net cash provided by operating activities:      
Depletion and accretion expense 160,662 105,752 94,661
Impairments of long-lived assets 26,496 0 0
(Gain) loss on derivatives - commodity derivatives (25,544) 25,324 32,389
Net cash receipts from (payments on) commodity derivatives 22,895 (42,437) (25,219)
Stock-based compensation 2,162 0 0
Gain on disposal of oil and natural gas properties 0 0 (2,279)
Amortization of loan origination costs 1,260 159 48
(Gain) loss on derivatives - common stock warrants 5,742 (362) 0
Gain on equity investments (508) 0 0
Deferred income taxes 24,274 12,850 0
Other (313) 0 0
Increase (decrease) in cash attributable to changes in operating assets and liabilities:      
Revenue receivable (846) (24,989) (28,603)
Other receivable 103 0 0
Accrued expenses 4,550 9,838 1,840
Prepaid and other expenses 485 (2,095) (125)
Other payable 350 5 10
Net cash provided by operating activities 302,867 346,389 181,181
Investing activities:      
Capital expenditures for oil and natural gas properties (282,390) (185,497) (136,077)
Acquisition of oil and natural gas properties (76,810) (49,191) (83,209)
Deposit on acquisition 0 (1,899) 0
Refund of advances to operators 2,464 1,180 3,819
Proceeds from the disposal of oil and natural gas properties 60 4,845 29,443
Net cash used in investing activities (356,676) (230,562) (186,024)
Financing activities:      
Proceeds from borrowing on credit facilities 162,500 21,000 62,000
Repayments of borrowing on credit facilities (52,500) (72,100) (49,400)
Cash distributions 0 0 (51,091)
Cash contributions 0 0 46,980
Deferred financing costs (2,616) (3,237) 0
Payment of expenses related to formation of Granite Ridge Resources, Inc. (43) (18,456) 0
Purchase of treasury shares (35,353) (216) 0
Payment of dividends (58,587) (10,664) 0
Proceeds from issuance of common stock 5 6,825 0
Net cash provided by (used in) financing activities 13,406 (76,848) 8,489
Net change in cash and restricted cash (40,403) 38,979 3,646
Cash and restricted cash at beginning of year 51,133 12,154 8,508
Cash and restricted cash at end of year 10,730 51,133 12,154
Supplemental disclosure of cash flow information:      
Cash paid during the year for interest (4,825) (2,286) (1,636)
Cash paid during the year for income taxes (742) (98) (79)
Supplemental disclosure of non-cash investing activities:      
Oil and natural gas properties divested in exchange for equity securities 49,920 0 0
Oil and natural gas property development costs in accrued expenses (12,325) 48,187 6,251
Advances to operators applied to development of oil and natural gas properties 98,224 103,535 48,387
Cash and restricted cash:      
Cash 10,430 50,833 11,854
Restricted cash included in other long-term assets 300 300 300
Cash and restricted cash $ 10,730 $ 51,133 $ 12,154