Executive Network Partnering Corporation and Grey Rock Form Granite Ridge Resources via Business Combination
October 24, 2022
Executive Network Partnering Corporation (ENPC) and Grey Rock Investment Partners completed a business combination to form Granite Ridge Resources, Inc. (NYSE: GRNT), a publicly traded, non‑operated oil and gas exploration and production company with an initial enterprise value of about $1.2 billion and an anticipated 4.9% annual dividend yield. Granite Ridge holds the non‑operated working interests previously held by Grey Rock’s Fund I, Fund II and Fund III and will be managed under a long‑term services agreement with the Grey Rock team.
- Buyers
- Executive Network Partnering Corporation (ENPC), Grey Rock Investment Partners
- Targets
- Granite Ridge Resources, Inc.
- Sellers
- Grey Rock Fund I, Grey Rock Fund II, Grey Rock Fund III and/or their limited partners
- Industry
- Energy
- Location
- Texas, United States
- Transaction Type
- Recapitalization
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