FORT WORTH, Texas, May 12, 2025 (GLOBE NEWSWIRE) — HighPeak Energy, Inc. (“HighPeak” or the “Company”) (NASDAQ: HPK) today announced financial and operating results for the quarter ended March 31, 2025, provided an updated 2025 development outlook and increased production guidance.HighPeak delivered another strong quarter of results, beating production guidance and consensus estimates, while also realizing higher levels of operating efficiencies in our development program. We drilled over 25% faster than our previous expectations, which translated to drilling and completing four additional wells during the first quarter. We are running smoother and more efficiently than ever before, while continuing to keep development costs in line with internal expectations.Due to the global economic uncertainty and its impact on oil prices, we have moderated our development program by laying down one rig for four months, May through August. Despite the pause, we remain on track to drill and complete the same number of wells in our 2025 guidance because of the gains made through operational efficiencies.We remain committed to optimizing our capital structure and remain poised to execute our plan once the market has stabilized. We are in a healthy financial position with no near-term debt maturities and are taking proactive steps to keep our balance sheet strong as we navigate this turbulent market.& DeferredPremium PutsMonthYearContractPerDayBblStrikePrice perBblPrice perBblPremiumPayableper BblYearContractPer DayMMBtuYearContractPer DayMMBtuUnaudited Condensed Consolidated Balance Sheet Data(In thousands)20252024Unaudited Condensed Consolidated Statements of Operations(in thousands)Unaudited Condensed Consolidated Statements of Cash Flows
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March 31, 2025Vice President, Business Development
817.850.9204
[email protected]
(GlobeNewsWire)