Quarterly ResultMay 6, 2026, 04:18 PM
HighPeak Energy Q1 Production 45.6 MBoe/d; $21M+ Free Cash Flow
AI Summary
HighPeak Energy announced strong first-quarter 2026 financial and operating results, outperforming guidance with average production of 45.6 MBoe/d, 7.5% above the midpoint. The company significantly reduced lease operating expenses by 17% below guidance and generated over $21 million in free cash flow, excluding changes in working capital. Despite reporting a net loss of $127.4 million ($1.02 per diluted share), the adjusted net loss was a modest $2.7 million ($0.02 per diluted share). Capital expenditures were $78.4 million, in line with expectations.
Key Highlights
- Q1 2026 average production was 45.6 MBoe/d, 7.5% above guidance midpoint.
- Daily oil production increased 10% quarter over quarter.
- Lease operating expenses were 17% below guidance and 22% below Q4 levels.
- Generated over $21 million in free cash flow, excluding changes in working capital.
- Reported a net loss of $127.4 million, or $1.02 per diluted share.
- Adjusted net loss was $2.7 million, or $0.02 per diluted share.
- EBITDAX for Q1 2026 was $133.5 million, or $0.96 per diluted share.
- Total capital expenditures for the quarter were $78.4 million.
Price Impact
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