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Dec 31, 2020
HighPeak Energy Q4 2020 Earnings Report
Reported fourth quarter 2020 results
Key Takeaways
HighPeak Energy reported a net loss of $25.1 million for the fourth quarter of 2020. Production averaged 7,539 barrels of oil equivalent per day. The company incurred a net loss due to increased exploration expenses and depreciation, depletion, and amortization.
Net loss of $25.1 million, or $0.30 per share, for the three months ended December 31, 2020.
Adjusted EBITDA of $12.9 million for the three months ended December 31, 2020.
Average daily production of 7,539 Boe/d for the three months ended December 31, 2020.
Proved developed producing reserves increased 40% to 37.8 MMBoe as of December 31, 2020.
HighPeak Energy
HighPeak Energy
Forward Guidance
While no specific financial guidance is provided, the earnings report suggests a focus on increasing production and reserves.
Positive Outlook
- Expect to maintain strong financial discipline.
- Focus on cost control.
- Continue to optimize production.
- Further development of existing acreage.
- Increase proved developed producing reserves.
Challenges Ahead
- The company incurred a net loss.
- Increased exploration expenses.
- Depreciation, depletion, and amortization impacted net income.
- Commodity price volatility.
- Uncertainty related to future development.