Highpeak Energy Inc ( (HPK) ) has released its Q4 earnings. Here is a breakdown of the information Highpeak Energy Inc presented to its investors.
HighPeak Energy, Inc. is a publicly traded independent crude oil and natural gas company based in Fort Worth, Texas, focusing on the acquisition, development, exploration, and exploitation of unconventional reserves in the Midland Basin in West Texas.
HighPeak Energy, Inc. recently released its financial and operational results for the fourth quarter and full year of 2024, highlighting a year of strategic growth and operational efficiency. The company also provided guidance for 2025, emphasizing continued capital discipline and shareholder value enhancement.
In 2024, HighPeak achieved a 10% increase in sales volumes, averaging 50.0 thousand barrels of crude oil equivalent per day, and a 29% increase in estimated proved reserves, reaching 199 million barrels of oil equivalent. The company reported a net income of $95.1 million and an EBITDAX of $842.9 million for the year. Additionally, HighPeak reduced its lease operating expenses by 17% and decreased long-term debt by $120 million.
The company plans to maintain a two-rig drilling program in 2025, with projected capital expenditures between $448 million and $490 million. HighPeak aims to keep production levels steady while reducing capital expenditures by 20%, focusing on optimizing its capital structure to enhance free cash flow and reduce interest expenses.
Looking ahead, HighPeak Energy is committed to maintaining operational efficiency and capital discipline in 2025, with a focus on steady production and strategic investments in infrastructure to support long-term growth and shareholder returns.