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GlobeNewswire·

HighPeak Energy, Inc. Announces Third Quarter 2026 Financial and Operating Results and Guidance Update

HPK
  • HighPeak Energy reported third quarter 2026 results with a net loss of $55.7 million ($0.44 per diluted share) & adjusted net income of $38.5 million ($0.32 per diluted share).
  • The company generated $22.4 million in free cash flow & reduced total debt by $30 million during the quarter.
  • Average daily production for Q3 2026 was 44.2 MBoe/d, with sales volumes consisting of approximately 67% crude oil & 84% liquids.
  • HighPeak updated its 2026 outlook to increase average daily production guidance to 44,500–45,500 Boe/d & total capital expenditures to $310–$320 million.
  • Lease operating expenses for Q3 2026 were reduced to $6.70 per Boe, & the company lowered its full-year lease operating expense guidance to $8.00–$8.25 per Boe.
  • On October 6, 2026, HighPeak announced a comprehensive refinancing involving a $450 million preferred equity investment & a new $800 million credit facility to repay its existing $1.2 billion term loan.
  • The refinancing transaction is expected to close later in November 2026, significantly improving the company's capital structure.
  • Average realized prices for Q3 2026 were $86.86 per Bbl for crude oil, $22.20 per Bbl for NGLs, & $1.42 per Mcf for natural gas, resulting in an overall realized price of $63.18 per Boe excluding derivatives.
  • The company maintained drilling activity without releasing rigs, citing improved efficiencies & plans to reinvest gains into high-return opportunities.
  • HighPeak holds various crude oil & natural gas derivative contracts through 2028, including costless collars, swaps, & basis swaps against WTI Cushing, NYMEX WTI Roll, & WAHA pricing.
  • Third quarter 2026 total capital expenditures excluding acquisitions were $71.1 million.
  • The company plans to host a conference call & webcast on November 10, 2026, at 10:00 a.m. Central Time to discuss these results.
Company
HighPeak Energy, Inc.
Keywords
Nasdaq:HPK, HighPeak Energy, Inc., Energy, Oil & Gas, E&P