Grey Rock Investment Partners, an investment firm, has combined with Executive Network Partnering Corporation, a special purpose acquisition entity, resulting in the formation of publicly traded Granite Ridge Resources.

The formation of Granite Ridge creates an oil and gas exploration and production firm with an unlevered balance sheet.

“This transaction with Grey Rock reflects our philosophy and commitment to matching accomplished, proven executives and great assets, with the proper capital structure to maximize results and value creation,” said Paul Ryan, Chairman of ENPC. “As hydrocarbons continue to play an important role in the global energy mix, we are confident that Granite Ridge, led by a world-class team with deep operational, technical, and financial expertise, is a compelling opportunity for investors looking to participate in the energy space.”