HighPeak Energy, Inc.
6.21-0.14 (-2.2%)
Oct 29, 4:00:01 PM EDT · NasdaqGM · HPK · USD
Key Stats
Market Cap
783.28MP/E (TTM)
7.14Basic EPS (TTM)
0.87Dividend Yield
0.03%Recent Filings
8-K
CEO retires; interim appointed
HighPeak Energy's founder and CEO Jack Hightower retired effective September 15, 2025, triggering a smooth leadership shift as President Michael Hollis steps in as interim CEO. The Principal Stockholder Group, holding 64.4% of shares, restructured governance to a committee led by Hollis, Silver, and Ryan Hightower, ensuring continuity without impacting debt terms. Hightower receives $2.4 million separation pay and full vesting of 1,385,500 restricted shares. Leadership transitions like this test stability.
8-K
Adopts change-in-control severance plan
HighPeak Energy adopted a Change in Control Plan on September 9, 2025, to offer discretionary severance up to three times base salary plus highest recent bonus for eligible employees upon a qualifying event tied to a change in control. This move signals active pursuit of strategic alternatives, potentially stabilizing key talent amid merger talks. Payments hinge on releases and possible covenants. Yet benefits remain fully discretionary.
8-K
Q2 results and debt extension
HighPeak Energy reported Q2 2025 sales volumes of 48.6 MBoe/d, flat year-over-year, with net income of $26.2 million and EBITDAX of $156.0 million amid lower commodity prices. The company amended its Term Loan to $1.2 billion and extended maturities to September 2028, deferring amortization until 2026 for added liquidity. It declared a $0.04 per share dividend payable in September. This bolsters flexibility while hedging shields against price drops.
10-Q
Q2 FY2025 results
HighPeak Energy posted Q2 FY2025 revenue of $200.4M, down 27% y/y from $275.3M amid softer oil prices, yet sales volumes held steady at 48,649 Boepd with NGL and gas gains offsetting a 9% oil drop. Operating income fell to $43.4M from $87.3M, while diluted EPS dipped to $0.19 from $0.21 on 126,095 weighted shares—consistent with net income of $26.2M. Derivatives delivered a $26.4M gain, cushioning the price hit, and DD&A eased 21% y/y to $22.87/boe thanks to reserve growth. Cash from operations hit $141.2M (derived), funding $126.5M in drilling costs across 29 gross wells in Flat Top; free cash flow stood at $108.7M after $32.5M capex (derived). Debt totals $1.03B at quarter-end, with $70M revolver availability and no covenant issues; post-quarter amendments extend maturities to 2028 and add $180M liquidity. Bolt-on buys added $3.6M in leases, while non-core divestitures fetched $0.6M. Volatility from OPEC hikes and tariffs lingers as a key risk.
8-K
Credit amendments extend maturities
HighPeak Energy amended its revolving credit agreement and upsized its term loan to $1.2 billion on August 1, 2025, extending both maturities to September 30, 2028, while deferring $30.0 million quarterly amortization until September 2026. This bolsters liquidity for Permian Basin operations amid hedging mandates covering 60% of projected oil production through March 2027. Flexibility reigns. Yet covenants tighten on asset coverage, starting at 1.25:1.00.
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