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Riley Exploration Permian vs Granite Ridge Resources: REPX and GRNT compared
Riley Exploration Permian is the larger company: $201M of revenue in its latest quarter (Q3 2026) against $177M for Granite Ridge Resources (Q3 2026). Riley Exploration Permian is growing faster (+88% against +57% a year earlier). Riley Exploration Permian is more profitable, with an operating margin of 53.0% against 33.4%.
Where the money goes: REPX and GRNT
Riley Exploration Permian (REPX) · Q3 2026
Riley Exploration Permian, Q3 2026: revenue $201M (+88% year over year), operating margin 53.0%, net loss $2.4M, operating cash flow $111M. The chart follows the revenue to costs, profit and cash.
Granite Ridge Resources (GRNT) · Q3 2026
Granite Ridge Resources, Q3 2026: revenue $177M (+57% year over year), operating margin 33.4%, net loss $10.1M, operating cash flow $87.7M. The chart follows the revenue to costs, profit and cash.
| Riley Exploration Permian (REPX) | Granite Ridge Resources (GRNT) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $201M | $177M |
| Revenue growth, Y/Y | +88% | +57% |
| Operating margin | 53.0% | 33.4% |
| Net earnings | −$2.4M | −$10.1M |
| Net margin | -1.2% | -5.7% |
| Operating cash flow | $111M | $87.7M |
| Free cash flow | $46.1M | $4.8M |
Where the revenue comes from
Riley Exploration Permian
- Oil sales, net: $196M (97%)
- NGL sales, net: $4.4M (2%)
- Natural Gas: $1.1M (1%)
Granite Ridge Resources
- Oil: $147M (83%)
- Natural gas: $30.0M (17%)
Questions
Which is bigger, Riley Exploration Permian or Granite Ridge Resources?
Riley Exploration Permian is the larger company: $201M of revenue in its latest quarter (Q3 2026) against $177M for Granite Ridge Resources (Q3 2026).
Is Riley Exploration Permian or Granite Ridge Resources growing faster?
Riley Exploration Permian is growing faster (+88% against +57% a year earlier).
Which is more profitable, Riley Exploration Permian or Granite Ridge Resources?
Riley Exploration Permian is more profitable, with an operating margin of 53.0% against 33.4%.
More: Riley Exploration Permian earnings · how Riley Exploration Permian makes money · Granite Ridge Resources earnings · how Granite Ridge Resources makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.