Business
HighPeak Energy, Inc. Announces Third Quarter 2025 Financial and Operating Results and Recent Management Changes
FORT WORTH, Texas, Nov. 05, 2025 (GLOBE NEWSWIRE) -- HighPeak Energy, Inc. (“HighPeak” or the “Company”) (NASDAQ: HPK) today announced financial and operating
About this update from Highpeak Energy, Inc.
[{"type":"text","content":"FORT WORTH, Texas, Nov. 05, 2025 (GLOBE NEWSWIRE) -- HighPeak Energy, Inc. (“HighPeak” or the “Company”) (NASDAQ: HPK) today announced financial and operating results for the quarter ended September 30, 2025, and recent management changes. HighlightsThird Quarter 2025 Sales volumes averaged approximately 47.8 thousand barrels of crude oil equivalent per day (“MBoe/d”), consistent with the second quarter.Net loss was $18.3 million, or ($0.15) per diluted share and EBITDAX (a non-GAAP financial measure defined and reconciled below) was $139.9 million, or $1.01 per diluted share. Adjusted net income (a non-GAAP financial measure defined and reconciled below) was $3.8 million or $0.03 per diluted share.Capital expenditures were $86.6 million, excluding acquisitions, a reduction of over 30% compared to the second quarter.Lease operating expenses averaged $6.57 per Boe, excluding workover expenses, consistent with the first half of 2025.Extended all debt maturities to September 2028 and increased liquidity by over $170 million. Recent Events On September 16, 2025, the Company announced the appointment of Michael Hollis as President and Interim Chief Executive Officer and Daniel Silver as a director of the Board.On November 5, 2025, the Company announced Michael Hollis as permanent Chief Executive Officer and Jason Edgeworth, member of the Board since 2023, as Chairman of the Board.On November 4, 2025, the Company’s Board of Directors declared a quarterly dividend of $0.04 per common share outstanding payable in December 2025. HighPeak President and Chief Executive Officer, Michael Hollis, said “I’m honored to step in as HighPeak’s next CEO. With our new Chairman of the Board and the entire team pulling in the same direction, we’re moving forward with purpose and a sense of urgency. We know we have some issues to fix: our debt is high, and we have, at times, drifted without a clear long-term plan. We will rebuild trust the only way that works — through steady, consistent results. We will run a tight, disciplined operation built on sound business principles. Our assets are strong, our people are capable, and our commitment to managing cash flow and capital is steadfast.” Third Quarter 2025 Operational Update HighPeak’s sales volumes during the third quarter of 2025 averaged 47.8 MBoe/d. Third quarter sales volumes consisted of approxima...