{ "docId": "019de518-b8be-76c6-84ce-4916cebb9344", "docSlug": "4e1b322546a1b9f6de9d55ebc01cbb68", "documentTitle": "Granite Ridge | Investor Presentation Deck | 28 slides", "authorId": "granite-ridge", "authorName": "Granite Ridge", "documentKindSlug": "pitchdeck", "documentKindLabel": "Pitch deck", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2024-11-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 26, "pageCount": 28, "prevPage": 25, "nextPage": 27, "slideType": "disclaimer", "function": "appendix", "density": "overcrowded", "nDataPoints": 0, "notes": null, "elementsJson": null, "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019de518-b8be-76c6-84ce-4916cebb9344/26", "deckHref": "/decks/019de518-b8be-76c6-84ce-4916cebb9344", "deckJsonHref": "/decks/019de518-b8be-76c6-84ce-4916cebb9344.json", "deckAnchorHref": "/decks/019de518-b8be-76c6-84ce-4916cebb9344#slide-26", "components": [ { "bbox": { "h": 0.025, "w": 0.44, "x": 0.037, "y": 0.802 }, "kind": "paragraph", "text": "Net Debt: The Company defines Net Debt as Long-Term Debt plus current portion of long-term debt less\ncash.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "32cc0723-d426-4d05-9355-506038c94f7c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.01, "w": 0.146, "x": 0.037, "y": 0.197 }, "kind": "paragraph", "text": "NON-GAAP MEASURES", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "360e0a45-003e-49cf-ba30-cf470bda1518", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.44, "x": 0.51, "y": 0.241 }, "kind": "paragraph", "text": "Operating Cash Flow Before Working Capital Changes: The Company defines Operating Cash Flow\nBefore Working Capital Changes as net cash provided by operating activities excluding total working\ncapital changes, which includes changes in cash due to changes in operating assets and liabilities,\nrevenues receivable, accrued expenses, prepaid and other expenses and other payable.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "41de1255-9bf4-4817-a3b5-99712ec2cc01", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.44, "x": 0.037, "y": 0.425 }, "kind": "paragraph", "text": "The Company's Adjusted EBITDAX measure provides additional information that may be used to better\nunderstand the Company's operations. Adjusted EBITDAX is one of several metrics that the Company\nuses as a supplemental financial measurement in the evaluation of its business and should not be\nconsidered in isolation or as an alternative to, or more meaningful than, net income as an indicator of\noperating performance. Certain items excluded from Adjusted EBITDAX are significant components in\nunderstanding and assessing a company's financial performance, such as a company's cost of capital and\ntax structure, as well as the historic cost of depreciable and depletable assets. Adjusted EBITDAX, as used\nby the Company, may not be comparable to similarly titled measures reported by other companies. The\nCompany believes that Adjusted EBITDAX is a widely followed measure of operating performance and is\none of many metrics used by the Company's management team and by other users of the Company's\nconsolidated financial statements. For example, Adjusted EBITDAX can be used to assess the Company's\noperating performance and return on capital in comparison to other independent exploration and\nproduction companies without regard to financial or capital structure, and to assess the financial\nperformance of the Company's assets and the Company without regard to capital structure or historical\ncost basis.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "41e37771-70d6-41df-9c2d-ebd785366ad1", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.025, "w": 0.44, "x": 0.51, "y": 0.36 }, "kind": "paragraph", "text": "Free Cash Flow: The Company defines Free Cash Flow as Operating Cash Flow Before Working Capital\nChanges less development costs.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5ad5ec01-2d27-4b1e-9c6e-780999cb5065", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.01, "w": 0.44, "x": 0.037, "y": 0.379 }, "kind": "paragraph", "text": "Adjusted EBITDAX is not a measure of net income or cash flows as determined by GAAP.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "82e63b68-f0ce-4265-ba7b-58fce0004a76", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.01, "w": 0.44, "x": 0.51, "y": 0.204 }, "kind": "paragraph", "text": "Leverage: The Company defines leverage as Net Debt divided by TTM Adjusted EBITDAX.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "cbc3a395-d786-4ca5-b60f-9b2274407cad", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.44, "x": 0.51, "y": 0.425 }, "kind": "paragraph", "text": "PV-10: The Company defines PV-10 as the pre-tax present value of estimated future net revenues (Pre-Tax\nPV-10%) less future income taxes, discounted at 10%. The Company's PV-10 provides a standardized\nmeasure of discounting future net cash flows.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "dc0e48f6-14a1-4560-b114-dd98203a3137", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.44, "x": 0.037, "y": 0.234 }, "kind": "paragraph", "text": "Adjusted EBITDAX: The Company defines Adjusted EBITDAX as net income before abandonments\nexpense, depletion and accretion expense, (gain) loss on derivatives - commodity derivatives, net cash\nreceipts from (payments on) commodity derivatives, interest expense, (gain) loss on derivatives\ncommon stock warrants, non-cash stock-based compensation, warrant exchange transaction costs and\nincome tax expense.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ddceb94c-60d6-4d05-ab68-b44a5ea43cc8", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.01, "w": 0.018, "x": 0.953, "y": 0.918 }, "kind": "source-note", "text": "26", "attrs": {}, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e1dd09c1-67e9-4509-b700-f1ffe7f346d9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.26, "x": 0.037, "y": 0.09 }, "kind": "title", "text": "Disclaimer", "attrs": {}, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bb3f0d30-d4dd-41e3-a55d-ff42e99a8e89", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Executive summary", "slug": "executive-summary", "agent": null, "layer": "slide", "matchId": "203bfcb4-6084-42c5-be08-2a6af2352a08", "evidence": "paragraph/paragraph explaining non-GAAP measures", "confidence": 0.6 } ], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }