Is Granite Ridge Resources (GRNT) stock Halal?

Granite Ridge Resources is a prominent entity within the energy sector, primarily engaged in the exploration and production of oil and natural gas. The company focuses on developing its resources through both innovative technology and strategic industry partnerships. Operating within a critical sector of the global economy, Granite Ridge Resources addresses the ever-increasing demand for energy solutions. Before any of that matters to a Muslim investor, one question comes first: is Granite Ridge Resources stock Halal?

Is Granite Ridge Resources Shariah compliant?

No. In the October 2026 screening Granite Ridge Resources (GRNT) does not pass AAOIFI screening: it fails the non-permissible income and interest-bearing debt screens. For a resources company like Granite Ridge Resources, AAOIFI Shariah Standard No. 21 has little quarrel with the product; the scrutiny falls on the financing. Heavy machinery and long project cycles are usually funded with debt, and the standard tolerates interest bearing borrowing only below 30% of market capitalisation.

Does Granite Ridge Resources pass the business activity test?

The activity screen is only part of the picture this month: Granite Ridge Resources currently fails the non-permissible income and interest-bearing debt screens, so the overall verdict is not compliant regardless of the business itself. The activity itself, extracting and selling resources, raises no Shariah objection; the scrutiny belongs to the financing.

Is Granite Ridge Resources' income Halal?

No. Granite Ridge Resources' income from impermissible sources currently exceeds AAOIFI's 5% revenue ceiling, which makes the stock non-compliant on this screen regardless of the others. The screen is reassessed monthly, so the status can change when new financial statements arrive.

Does Granite Ridge Resources meet AAOIFI's debt and investment ratio requirements?

Not in full. Interest bearing debt currently exceeds the 30% cap, measured against a market capitalisation of $572M (market data as of 1 October 2026), while the other ratio stays within it. One breach is enough to fail the screening; the ratios are reassessed monthly under our Shariah Supervisory Board.

Why do other halal screeners show a different verdict for Granite Ridge Resources?

Screeners can disagree without either being wrong. AAOIFI Shariah Standard No. 21, which Tabadulat applies, measures interest bearing debt and investments against market capitalisation with a 30% ceiling. MSCI and FTSE measure them against total assets with a 33% ceiling, and S&P and Dow Jones Islamic use a multi year average of market capitalisation. Data dates differ too, because each provider reads filings and prices on its own schedule. The same company can therefore pass one standard and fail another in the same month. Tabadulat publishes one answer, the AAOIFI result as of October 2026, and re-screens it every month.

Tabadulat is an ADGM regulated brokerage whose license covers Shari'a Compliant Regulated Activities, as the FSRA permission names them. New to the terminology? Gharar and Maysir, Sukuk, Zakat and purification are all explained in plain English.

New to the screening method? Read AAOIFI Standards Explained: What Makes a Stock Halal?