HighPeak Energy Files Q2 2024 10-Q

TL;DR

HPK Q2 10-Q is in. Check financials for latest oil & gas ops.

AI Summary

HighPeak Energy, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results and operational updates. Key financial figures and operational metrics for the second quarter of 2024 were disclosed in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational details of HighPeak Energy, crucial for understanding the company's current standing and future prospects in the oil and gas sector.

Risk Assessment

Risk Level: medium — As an oil and gas company, HighPeak Energy is subject to inherent commodity price volatility and operational risks.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 20240805 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• HighPeak Energy, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240805 (date) — Filing date
• 421 W. 3RD STREET SUITE 1000 (address) — Company's business and mailing address
• FORT WORTH, TX 76102 (address) — Company's business and mailing address

FAQ

Key Financial Figures

• $0.0001 — registered Common Stock, par value $0.0001 per share HPK The Nasdaq Stock Mark
• $225.0 million — gs: " 10.000% Senior Notes " means the $225.0 million aggregate principal amount of our 10.00
• $250.0 million — 23. " 10.625% Senior Notes " means the $250.0 million aggregate principal amount of our 10.62
• $25.0 million — nt to an indenture in November 2022 and $25.0 million of which were issued pursuant to an ind
• $11.50 — hPeak Energy common stock at a price of $11.50 per share. " Wellbore " The hole drill

Filing Documents

• hpe20240630_10q.htm (10-Q) — 1808KB
• ex_703393.htm (EX-31.1) — 12KB
• ex_703394.htm (EX-31.2) — 12KB
• ex_703395.htm (EX-32.1) — 5KB
• ex_703396.htm (EX-32.2) — 5KB
• 0001437749-24-024647.txt ( ) — 8547KB
• hpk-20240630.xsd (EX-101.SCH) — 69KB
• hpk-20240630_def.xml (EX-101.DEF) — 512KB
• hpk-20240630_lab.xml (EX-101.LAB) — 431KB
• hpk-20240630_pre.xml (EX-101.PRE) — 542KB
• hpk-20240630_cal.xml (EX-101.CAL) — 57KB
• hpe20240630_10q_htm.xml (XML) — 1380KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) 6 Condensed Consolidated Balance Sheets 6 Condensed Consolidated Statements of Operations 7 Condensed Consolidated Statements of Changes in Stockholders' Equity 8 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 40 Item 4.

Controls and Procedures

Controls and Procedures 41

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 41 Item 1A.

Risk Factors

Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42 Item 5. Other Information 42 Item 6. Exhibits 43

Signatures

Signatures 44 HIGHPEAK ENERGY, INC. Definitions of Certain Terms and Conventions Used Herein Within this Quarterly Report on Form 10-Q (this "Quarterly Report"), the following terms and conventions have specific meanings: " 10.000% Senior Notes " means the $225.0 million aggregate principal amount of our 10.000% Senior Notes due 2024, which were issued pursuant to an indenture in February 2022 and repaid in full in September 2023. " 10.625% Senior Notes " means the $250.0 million aggregate principal amount of our 10.625% Senior Notes due 2024, $225.0 million of which were issued pursuant to an indenture in November 2022 and $25.0 million of which were issued pursuant to an indenture in December 2022 and repaid in full in September 2023. " 3-D seismic " means three-dimensional seismic data which is geophysical data that depicts the subsurface strata in three dimensions. 3-D seismic data typically provides a more detailed and accurate interpretation of the subsurface strata than two-dimensional data. " ASC " means Accounting Standards Codification. " ASU " means Accounting Standards Update. " Basin " means a large natural depression on the earth's surface in which sediments generally brought by water accumulate. " Bbl " means a standard barrel containing 42 United States gallons. " Bcf " means one billion cubic feet. " Boe " means a barrel of crude oil equivalent and is a standard convention used to express crude oil and natural gas volumes on a comparable crude oil equivalent basis. Natural gas equivalents are determined under the relative energy content method by using the ratio of six thousand cubic feet of natural gas to one Bbl of crude oil or NGL. " Boepd " means Boe per day. " Bopd " means one barrel of crude oil per day. " Btu " means British thermal unit, which is a measure of the amount of energy required to raise the temperature of one pound of water one degree Fahrenheit. " Collateral Agency Agreement " means the Company's Collateral Age

View Full Filing

View this 10-Q filing on SEC EDGAR