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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