Brief: Highpeak Energy Announces Acquisition Of Howard County Properties Principally In Its Signal Peak Area

HighPeak Energy

27/04/2022 22:53

April 27 (Reuters) - Highpeak Energy Inc  HPK.O :
    * HIGHPEAK ENERGY, INC. ANNOUNCES ACQUISITION OF HOWARD
COUNTY
PROPERTIES PRINCIPALLY IN ITS SIGNAL PEAK AREA FROM HANNATHON
PETROLEUM AND OTHER SELLERS
    * HIGHPEAK ENERGY INC - PROPOSED DEAL FOR $255 MILLION IN
CASH AND
APPROXIMATELY 3.78 MILLION SHARES OF HIGHPEAK'S COMMON STOCK
    * HIGHPEAK ENERGY - CASH PORTION OF CONSIDERATION IS
EXPECTED TO
BE FUNDED WITH CASH ON HAND AND BORROWINGS UNDER COMPANY'S
REVOLVING CREDIT FACILITY
    * HIGHPEAK ENERGY INC SEES PRO FORMA 2022 TOTAL CAPITAL
EXPENDITURES $825 MILLION - $900 MILLION
    * HIGHPEAK ENERGY INC SEES PRO FORMA 2022 AVERAGE PRODUCTION
RATE
32,000 BOE/D – 37,500 BOE/D
    * HIGHPEAK ENERGY INC SEES PRO FORMA 2022 EXIT PRODUCTION
RATE
47,000 BOE/D – 53,000 BOE/D

Source text for Eikon:  ID:nGNX6PCZyh 
Further company coverage:  HPK.O 

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