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
HighPeak Energy, Inc. (NASDAQ: HPK) announced a quarterly dividend of $0.025 per share, set to be paid on May 25, 2023, to shareholders on record as of May 1, 2023. This decision underscores the company's commitment to returning value to its shareholders while maintaining a focus on its operations in the Midland Basin in West Texas. HighPeak is engaged in the acquisition, development, exploration, and exploitation of unconventional oil and natural gas reserves, contributing to its growth strategy.
HighPeak Energy, Inc. (NASDAQ: HPK) reported robust financial results for Q4 2022, highlighting an average sales volume of 37,348 Boe/d, a 42% increase from Q3 2022. The company's EBITDAX was $220.9 million for the quarter and $577.1 million for the full year, showing strong cash margins of $62.52 per Boe. Year-end proved reserves surged 92% to 123.0 MMBoe, with a PV-10 value of approximately $3.9 billion. The company plans to average 4-5 drilling rigs in 2023 and maintain flexibility in its capital plan amid economic uncertainties. HighPeak also declared a quarterly dividend of $0.025 per share in January 2023.
HighPeak Energy (NASDAQ: HPK) will release its 2022 fourth quarter and year-end financial results on March 6, 2023, after market close. A conference call will be held on March 7, 2023, at 10:00 AM CT to discuss the financial results and operational highlights. Investors can register for the call online and access a live audio-only webcast via HighPeak Energy's website. As an independent oil and natural gas company focused on the Midland Basin in West Texas, HighPeak Energy continues to explore and develop its reserves, aiming to enhance shareholder value.
HighPeak Energy (NASDAQ: HPK) announced on January 23, 2023, that its Board has initiated a review for strategic alternatives to enhance shareholder value, including a potential sale of the Company. Financial advisors Credit Suisse and Wells Fargo, along with legal counsel Vinson & Elkins, will assist in this review. HighPeak anticipates self-sustaining operations and positive cash flow in the second half of 2023, projecting average production rates of 47-53 MBoe/d in 2023 and 70-76 MBoe/d in 2024. The Company also reported a strong inventory of approximately 2,500 drilling locations, with a projected average return of 95% at prices of $90/Bbl WTI and $4/MMBtu HH natural gas.
HighPeak Energy, Inc. (NASDAQ: HPK) announced a quarterly dividend of $0.025 per share, which will be paid on February 24, 2023, to stockholders of record as of February 1, 2023. This dividend reflects the company's focus on providing returns to its investors while continuing to engage in the acquisition and development of oil and gas reserves in the Midland Basin of West Texas. The announcement underscores HighPeak's commitment to enhancing shareholder value.
HighPeak Energy (NASDAQ: HPK) reported significant operational growth for Q3 2022, with net sales volumes averaging 26,247 Boe/d, a 19% increase from Q2. The company's EBITDAX rose to $169.7 million, up 25% quarter-over-quarter. Q4 production has averaged about 35,750 Boe/d, indicating a 63% increase. HighPeak's net income for the quarter was $107.9 million ($0.85 per diluted share), and the company achieved an impressive cash margin of $71.23 per Boe. The company’s acreage expanded by 68% to over 105,000 net acres due to recent acquisitions. HighPeak also increased its borrowing base to $550 million.
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