HighPeak Energy Q3 2022 Earnings Report
Key Takeaways
HighPeak Energy reported a strong third quarter in 2022, with net sales volumes averaging 26,247 Boe/d, a 19% increase compared to the second quarter, and EBITDAX reaching $169.7 million, a 25% increase. The company's acreage position increased by approximately 68% since year-end 2021, reaching over 105,000 net acres. Production has continued to increase significantly since the end of the third quarter and has averaged approximately 35,750 Boe/d to date during the fourth quarter.
Third quarter net sales volumes averaged 26,247 Boe/d, a 19% increase compared with second quarter 2022.
Fourth quarter sales volumes to date have averaged approximately 35,750 Boe/d, an increase of approximately 63% compared with second quarter 2022.
EBITDAX associated with third quarter 2022 net sales volumes was $169.7 million, a 25% increase compared with second quarter 2022.
As of September 30, 2022 the Company had over 105,000 net acres, an increase of approximately 68% compared with year-end 2021.