HighPeak Energy, Inc.

HighPeak Energy, Inc. entered into two amendments to its credit agreements, modifying financial covenants. The Fourth Amendment to the Credit Agreement and the Third Amendment to the Term Loan Credit Agreement both adjust the Total Net Leverage Ratio to not exceed 2.25 to 1.00 for the fiscal quarter ending June 30, 2026. Additionally, the Third Amendment revised the Asset Coverage Ratio to not be less than 1.25 to 1.00 for the same period, with both ratios tightening further in subsequent quarters.

HighPeak Energy announced its Q1 2026 financial and operating results, reporting a net loss of $127.4 million, or $1.02 per diluted share. Despite the net loss, the company outperformed guidance with average production of 45.6 MBoe/d, 7.5% above the midpoint, and achieved lease operating expenses 17% below guidance. Additionally, HighPeak Energy entered into a Sales Agreement for an "at the market" equity offering, allowing it to sell up to $150 million in common stock for general corporate purposes, including debt refinancing.

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.

HighPeak Energy reported a net loss of $127.4 million for Q1 2026, a significant decline from a net income of $36.3 million in Q1 2025. Total operating revenues decreased by 20.7% to $215.9 million, primarily due to lower crude oil, NGL, and natural gas sales. The company also incurred a substantial net loss of $157.0 million on derivative instruments, compared to a $7.9 million loss in the prior year period. Operating cash flow also saw a considerable reduction, and no dividends were declared.

HighPeak Energy, Inc. announced that its Board of Directors approved a minor addition to the Company's Second Amended and Restated Bylaws, effective immediately. This amendment clarifies that in non-binding advisory matters with more than two possible vote choices, a plurality of the voting power of shares present and entitled to vote will be considered the recommendation of the stockholders.

HighPeak Energy, Inc. announced its 2026 Annual Meeting of Stockholders will be held on June 2, 2026. Stockholders of record as of April 8, 2026, will vote on the election of three Class C director nominees, an advisory resolution on 2025 executive compensation, the frequency of future say-on-pay votes, and the ratification of Weaver and Tidwell, L.L.P. as the independent auditor. The filing also notes Michael L. Hollis's appointment as President and CEO in November 2025 and Daniel Silver's appointment as Executive Vice President in November 2025 and CEO of HighPeak Energy Partnerships in September 2025.

HighPeak Energy, Inc. announced it will release its first-quarter 2026 financial and operating results after the close of trading on Wednesday, May 6, 2026. The company will host a conference call and webcast on Thursday, May 7, 2026, at 10:00 a.m. Central Time. This event will allow investors and analysts to discuss the financial results and operational highlights.

HighPeak Energy, Inc. announced that its President and CEO, Michael Hollis, and Executive Vice President, Ryan Hightower, will present virtually at the Water Tower Research Insights Conference. The presentation is scheduled for April 15, 2026, at 4:30 p.m. ET. Management will also be available for one-on-one meetings, offering investors an opportunity to engage with the company's leadership.