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HighPeak Energy, Inc. - HPK STOCK NEWS

Welcome to our dedicated page for HighPeak Energy news (Ticker: HPK), a resource for investors and traders seeking the latest updates and insights on HighPeak Energy stock.

HighPeak Energy, Inc. (NASDAQ: HPK) is an independent oil and natural gas company focused on acquiring, exploring, developing, and producing oil and natural gas reserves in the United States. Founded in 2019 and headquartered in Fort Worth, Texas, the company's primary assets are located in Howard County, within the prolific Midland Basin.

HighPeak Energy's mission is to optimize the development of unconventional oil and natural gas reserves. The company operates in a single segment, concentrating its efforts on the Midland Basin, known for its rich deposits and favorable geology. Its portfolio includes approximately 2,600 undrilled locations, with over 1,100 of these locations having a breakeven cost of less than $50 per barrel, providing significant operational flexibility.

Recent achievements include a strong financial performance in the first quarter of 2024. The company reported generating free cash flow from operations and maintaining a robust balance sheet. HighPeak Energy's strategic initiatives focus on operating with discipline, maximizing shareholder value, and scaling its drilling program to align with commodity price fluctuations.

The company regularly engages with investors and analysts to provide updates on its financial results and operational highlights. Notable events include quarterly earnings calls and webcasts, which are available on HighPeak Energy's website under the

News

HighPeak Energy, Inc. Announces Third Quarter 2023 Financial and Operating Results

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HighPeak Energy, Inc. (NASDAQ: HPK) reported strong financial and operating results for Q3 2023. Sales volumes increased by 25% compared to Q2 2023 and 101% compared to Q3 2022. Net income was $38.8 million, and EBITDAX was $266.2 million. The company generated $75.7 million of free cash flow. HighPeak completed a $1.2 billion term loan financing and closed a $100 million credit facility for additional liquidity. The average realized price per Boe was $71.27, and cash operating margin was $59.17 per Boe. HighPeak added a third drilling rig and plans to focus on generating free cash flow and reducing debt levels.
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HighPeak Energy, Inc. Announces 2023 Third Quarter Earnings Release and Conference Call Dates

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HighPeak Energy to release 2023 Q3 financial results and host conference call
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HighPeak Energy, Inc. Declares Quarterly Cash Dividend

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HighPeak Energy, Inc. declares quarterly dividend of $0.025 per share.
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HighPeak Energy, Inc. Announces the Closing of a $1.2 Billion Term Loan Financing and Company Update

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HighPeak Energy successfully completes transformative debt refinancing, extending debt maturities to September 2026 and increasing liquidity. Proforma liquidity at June 30, 2023, would have been approximately $200 million. Third-quarter production averaging over 50,000 Boe per day. Proved developed reserves increased approximately 50% from year-end. Planning to add a third drilling rig in the fourth quarter. Current production generates an annualized EBITDA run-rate of approximately $1.2 billion at current prices.
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HighPeak Energy, Inc. Announces Second Quarter 2023 Financial and Operating Results

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HighPeak Energy, Inc. (NASDAQ: HPK) reported its financial and operating results for Q2 2023. Sales volumes increased by 13% compared to Q1 2023 and by 92% compared to Q2 2022. Net income was $31.8 million, and EBITDAX was $185.0 million. The realized price averaged $62.68 per Boe, representing 85% of the weighted average of NYMEX WTI crude oil prices. HighPeak completed a public equity offering, raising net proceeds of $151.2 million.
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HighPeak Energy, Inc. Announces 2023 Second Quarter Earnings Release and Conference Call Dates

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HighPeak Energy, Inc. plans to release its 2023 second quarter financial and operating results on August 7, 2023. They will host a conference call and webcast on August 8, 2023, to discuss the results.
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HighPeak Energy, Inc. Declares Quarterly Cash Dividend

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HighPeak Energy, Inc. Announces Closing of Underwritten Public Offering of Common Stock

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HighPeak Energy, Inc. has closed its underwritten public offering, selling 14,835,000 shares of common stock at $10.50 per share. The net proceeds, including the exercise of the underwriter's option, amount to approximately $151.2 million. The company plans to use the funds for working capital and enhancing near-term liquidity.
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HighPeak Energy, Inc. Announces Pricing of Underwritten Public Offering of Common Stock

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HighPeak Energy, Inc. (NASDAQ: HPK) announced the pricing of its underwritten public offering of 12,900,000 shares of common stock at $10.50 per share, expecting gross proceeds of approximately $135.5 million. The offering is intended to enhance near-term liquidity and will close on July 21, 2023.
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HighPeak Energy, Inc. Announces Commencement of Underwritten Public Offering of Common Stock

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FAQ

What is the current stock price of HighPeak Energy (HPK)?

The current stock price of HighPeak Energy (HPK) is $15.54 as of November 22, 2024.

What is the market cap of HighPeak Energy (HPK)?

The market cap of HighPeak Energy (HPK) is approximately 2.0B.

What does HighPeak Energy, Inc. do?

HighPeak Energy, Inc. is an independent oil and natural gas company engaged in acquiring, exploring, developing, and producing oil and natural gas reserves in the United States.

Where are HighPeak Energy's primary assets located?

HighPeak Energy's primary assets are located in Howard County, within the Midland Basin, Texas.

When was HighPeak Energy founded?

HighPeak Energy was founded in 2019.

Where is HighPeak Energy headquartered?

HighPeak Energy is headquartered in Fort Worth, Texas.

How many undrilled locations does HighPeak Energy have?

HighPeak Energy has approximately 2,600 undrilled locations, with over 1,100 having a breakeven cost of less than $50 per barrel.

What is the company's financial condition as of the first quarter of 2024?

As of the first quarter of 2024, HighPeak Energy reported generating free cash flow from operations and maintaining a robust balance sheet.

How does HighPeak Energy engage with its investors?

HighPeak Energy regularly holds earnings calls and webcasts to discuss financial results and operational highlights, available on its website.

What is the company's mission?

HighPeak Energy's mission is to optimize the development of unconventional oil and natural gas reserves, maximizing shareholder value while maintaining operational discipline.

How does commodity price affect HighPeak Energy's drilling program?

HighPeak Energy scales its drilling program based on commodity price fluctuations, ensuring financial flexibility and operational efficiency.

Who can I contact for investor relations at HighPeak Energy?

For investor relations, you can contact Ryan Hightower, Vice President of Business Development, at 817.850.9204 or rhightower@highpeakenergy.com.

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HighPeak Energy, Inc.

Nasdaq:HPK

HPK Rankings

#2011 Ranked by Market Cap
#1779 Ranked by Dividends

HPK Stock Data

1.96B
18.58M
85.3%
20.58%
4.36%
Oil & Gas E&P
Drilling Oil & Gas Wells
Link
United States of America
FORT WORTH