Overview

* HighPeak Q3 net loss of $18.3 mln, adjusted net income was $3.8 mln

* Capital expenditures reduced by over 30% compared to Q2

Outlook

* HighPeak Energy ( HPK ) extends debt maturities to 2028, increasing liquidity by over $170 mln

Result Drivers

* SALES VOLUMES - HighPeak maintained consistent sales volumes averaging 47.8 MBoe/d, similar to Q2

* CAPEX REDUCTION - Capital expenditures reduced by over 30% compared to Q2, excluding acquisitions

* DEBT MATURITIES EXTENDED - Co extended all debt maturities to September 2028, increasing liquidity by $170 mln

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS -$0.15

Q3 Net -$18.30

Income mln

Q3 Capex $86.60

mln

Q3 $139.90

EBITDAX mln

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the oil & gas exploration and production peer group is "buy."

* Wall Street's median 12-month price target for Highpeak Energy Inc ( HPK ) is $9.50, about 34.7% above its November 4 closing price of $6.20

* The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)