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  "documentTitle": "Granite Ridge | Investor Presentation Deck | 28 slides",
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      "text": "GRNT: 100% Oil & Gas Exploration & Production. S&P E&P Index: 74% Oil & Gas Exploration & Production, 19% Oil & Gas Refining & Marketing, 7% Integrated Oil & Gas",
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      "text": "Public/Private split: S&P E&P Index 100% Public, GRNT 36% Public, 64% Private",
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      "text": "Net Debt / EBITDA: S&P E&P Index 0.8x, Peer 1 1.6x, Peer 2 0.4x, GRNT 0.3x",
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      "text": "Yield %: S&P E&P Index 2.2%, GRNT 7.2%",
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      "text": "Yield: Robust & Durable",
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      "text": "Focused Upstream Exposure",
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      "text": "Conservative Balance Sheet",
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      "text": "Valuation: Cheap Relative to Peer Group",
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      "text": "1. S&P Oil & Gas Exploration & Production Select Industry Index (NYSE: XOP) data as of as of 11/8/2023.\n2. XOP Net Debt and multiples are weighted average of holdings as of 11/8/2023 and financial data from most recent SEC filings per S&P Capital IQ pulled 11/8/2023.\n3. Peers include NOG and VTS, data as of 11/8/2023.\n4. Net Debt to Adjusted EBITDAX for the XOP uses S&P Capital IQ Net Debt and EBITDA. Adjusted to remove impact of renewable fuels companies (CLNE, GPRE and GEVO). Non-GAAP financial measure, which is defined and reconciled in the Appendix.\n5. XOP per State Street Global Advisors.",
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      "text": "Compelling Value Opportunity",
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