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) has successfully closed the acquisition of Howard County assets from Hannathon Petroleum, LLC on June 27, 2022. The cash component of the deal was approximately $237 million, with equity consideration set at around 3.5 million shares of Common Stock. This acquisition is expected to enhance HighPeak's operational presence in the Signal Peak region, promoting development and efficiency improvements. Additionally, the company's bank group, led by Fifth Third Bank, has increased its borrowing base to $400 million, reflecting enhanced financial support for future growth.
HighPeak Energy, Inc. reported first quarter 2022 results, showing average net production exceeding 28,000 Boe/d after the Hannathon acquisition. This marks a substantial increase from 12,052 Boe/d in Q1 2022. The company targets six drilling rigs and forecasts 2023 production between 62,000 and 72,000 Boe/d. Despite a net loss of $16.5 million, EBITDAX reached $51.1 million. Capital expenditures are projected at $825-$900 million. The company maintains flexibility in its capital plan amidst ongoing global uncertainties.
HighPeak Energy (NASDAQ: HPK) announced it will release its first quarter 2022 financial results after market close on May 16, 2022. A conference call is scheduled for May 17, 2022, at 10:00 a.m. CT to discuss these results and operational highlights. Investors can join the call by dialing (833) 362-0226 from the US or (914) 987-7683 internationally, using confirmation code 8847326. A live broadcast will be available on the company's website, with a replay accessible afterward.
HighPeak Energy, Inc. (NASDAQ: HPK) announced its acquisition of Howard County assets from Hannathon Petroleum for $255 million in cash and approximately 3.78 million shares. This strategic move is expected to enhance HighPeak's growth strategy, adding 150 net locations and 18,600 acres to its holdings around Signal Peak. The company anticipates improved cash flow and production growth, with projected average production rising to 32,000 – 37,500 Boe/d in 2022. The acquisition, which is expected to close in Q3 2022, demonstrates HighPeak's commitment to expanding its market presence.
HighPeak Energy, Inc. (NASDAQ: HPK) announced a quarterly dividend of $0.025 per share on April 13, 2022. This dividend is set to be paid on May 25, 2022, to shareholders registered by the close of business on May 2, 2022. The company, based in Fort Worth, Texas, specializes in the acquisition and development of oil and natural gas reserves in the Midland Basin of West Texas, emphasizing its commitment to generating returns for its investors.
HighPeak Energy, Inc. (HPK) reported strong fourth quarter 2021 results, with production increasing by 81% to 14,881 Boe/d. The year-end PV-10 reserve value surged to approximately $1.5 billion, with proved reserves rising 185% to 64.2 MMBoe. The company plans to operate four drilling rigs and is actively acquiring new properties, adding about 9,500 net acres. HighPeak's financials showed EBITDAX of $72.4 million for Q4 2021 and net income of $37 million. The company remains flexible amid fluctuating market conditions and is positioned for growth despite geopolitical uncertainties.
HighPeak Energy, Inc. (NASDAQ: HPK) will announce its 2021 financial results on March 7, 2022, after market close. This includes the fourth-quarter performance and full-year results. A conference call is scheduled for March 8, 2022, at 10:00 a.m. CT where management will discuss the results and operational highlights. Investors can participate via phone or listen to the live webcast on the company’s website. HighPeak Energy focuses on oil and natural gas reserves in the Midland Basin, West Texas.
HighPeak Energy (NASDAQ: HPK) provided an operational update, highlighting significant growth in its fourth quarter 2021 performance. Average daily sales volumes surged by approximately 77% to 90%, reaching 14,500 to 15,500 Boe per day, driven by 59 horizontal wells. Year-end 2021 proved reserves jumped 185% to 64.2 MMBoe with a PV-10 reserve value of around $1.5 billion. The company also announced a series of acquisitions to enhance production and a $225 million private placement of senior unsecured notes, aimed at funding its 2022 drilling program.
HighPeak Energy, Inc. (NASDAQ: HPK) has announced a private placement of $225 million in 10.0% senior unsecured notes due 2024, set to close on February 16, 2022. The funds will be allocated to its 2022 drilling program, debt repayment under its revolving credit facility, and associated fees. These notes will not be registered under the Securities Act, restricting their sale in the U.S. to qualified buyers and international investors. HighPeak, based in Fort Worth, Texas, specializes in oil and natural gas reserves in the Midland Basin.
HighPeak Energy, Inc. (NASDAQ: HPK) announced a quarterly dividend of $0.025 per share, reflecting the company’s commitment to returning value to shareholders. The dividend is set to be paid on February 25, 2022, to stockholders of record by February 1, 2022. HighPeak is focused on the acquisition and development of unconventional oil and natural gas reserves in the Midland Basin, Texas, emphasizing growth in its operational sector.
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