HighPeak Energy

HighPeak Energy, Inc. is an oil and natural gas exploration and production company focused on the Permian Basin in Texas. HighPeak has assembled approximately 114,000 net acres in Howard County, with over 225 producing horizontal wells targeting the Spraberry and Wolfcamp formations.

The company is in the development stage, rapidly growing production and adjusting its development plan in response to well results. HighPeak averaged 52,700 boepd during the third quarter of 2023, of which 84% was oil. The company has identified over 1,000 gross drillable locations on its acreage targeting the Wolfcamp and Spraberry formations.

During the third quarter of 2023, HighPeak generated $266 million of annualized EBITDAX and $76 million of free cash flow while spending $161.2 million on drilling and completions. For the full year 2023, HighPeak is guiding to average production of 44,000 to 47,000 boepd and EBITDAX of $850 to $900 million.

HighPeak Energy currently has a market capitalization of approximately $2.2 billion as of early November 2023. As infrastructure development continues to reduce costs, the company focuses on Wolfcamp A and Lower Spraberry developments to further expand margins.