08:38 AM EDT, 08/04/2025 (MT Newswires) -- HighPeak Energy ( HPK ) said Friday it amended its Term Loan Credit Agreement and Senior Credit Facility, extending their maturities by two years to Sept. 30, 2028.

The company increased term loan borrowings to $1.2 billion, deferred $30 million in quarterly amortization until September 2026, and kept its call protection provision in place through September, the company said.

The total cost of the amendments was lower than other financing options, giving the company flexibility to repay debt at par, HighPeak said.

The company also said it entered new crude oil hedges through March 2027, including swaps, collars, and deferred premium puts tied to WTI Cushing prices.

Natural gas swaps remain in place through March 2027 at an average $4.30 per MMBtu, based on Henry Hub benchmarks, the company added.

Texas Capital Securities advised on the transaction and arranged the amended term loan.