HighPeak Energy, Inc. Announces First Quarter 2025 Financial and Operating Results - AMENDED

About this update from Highpeak Energy, Inc.

[{"type":"image","alt":"HighPeak Energy, Inc.","displaySize":"","headline":null,"caption":"HighPeak Energy, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":236,"height":59,"url":"https://media.zenfs.com/en/globenewswire.com/172a7791ee1b23e8b0e40554ded572e5"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/tB0o4Fm6ogFe.aUwl44jpA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEwNTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/172a7791ee1b23e8b0e40554ded572e5","width":236,"height":59}},"lazy":false},{"type":"text","content":"FORT WORTH, Texas, May 12, 2025 (GLOBE NEWSWIRE) -- HighPeak Energy, Inc. (“HighPeak” or the “Company”) (NASDAQ: HPK) today announced amended financial and operating results for the quarter ended March 31, 2025, provided an updated 2025 development outlook and increased production guidance. Please note that in the Unaudited Condensed Consolidated Statements of Cash Flows table, the amount of Repayments under Term Loan Credit Agreement for 2025 was amended from (120,000) to (30,000). The amended release follows:","length":516,"tagName":"p"},{"type":"text","content":"First Quarter 2025 Highlights","length":29,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Sales volumes averaged approximately 53.1 thousand barrels of crude oil equivalent per day (“MBoe/d”), representing a 6% increase from the fourth quarter 2024.","length":159,"tagName":"p"}]},{"val":[{"type":"text","content":"Net income was $36.3 million, or $0.26 per diluted share and EBITDAX (a non-GAAP financial measure defined and reconciled below) was $197.3 million, or $1.40 per diluted share. First quarter 2025 adjusted net income (a non-GAAP financial measure defined and reconciled below) was $42.7 million, or $0.31 per diluted share.","length":322,"tagName":"p"}]},{"val":[{"type":"text","content":"Lease operating expenses averaged $6.61 per Boe, excluding workover expenses, representing a 3% decrease compared to the fourth quarter 2024.","length":141,"tagName":"p"}]},{"val":[{"type":"text","content":"Generated free cash flow (a non-GAAP financial measure defined and reconciled below) of $10.7 million, reduced long-term debt by $30 million and paid $0.04 per share in dividends.","length":179,"tagName":"p"}]},{"val":[{"type":"text","content":"Realized increased drilling and completion efficiency gains, which translated to dril...

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