Brief: Highpeak Energy Inc Announces Strategic Alternatives Process And Guidance For 2023 And 2024

HighPeak Energy

23/01/2023 21:13

Jan 23 (Reuters) - Highpeak Energy Inc  HPK.O :
    * HIGHPEAK ENERGY, INC. ANNOUNCES STRATEGIC ALTERNATIVES
PROCESS AND GUIDANCE FOR 2023 AND 2024
    * HIGHPEAK ENERGY INC - DURING FIRST HALF OF 2023, COMPANY
PLANS
TO REDUCE DRILLING OPERATIONS FROM SIX TO FOUR DRILLING RIGS
    * HIGHPEAK ENERGY INC - ANTICIPATE HAVING SELF-SUSTAINING
OPERATIONS AND BECOMING CASH FLOW POSITIVE IN SECOND HALF OF
THIS YEAR
    * HIGHPEAK ENERGY INC - COMPANY INTENDS TO CONTINUE TO ALIGN
ITS
2023 AND 2024 PLANS WITH EVOLVING ECONOMIC ENVIRONMENT AS
APPROPRIATE
    * HIGHPEAK ENERGY INC SEES 2023 EXIT PRODUCTION RATE 58 - 66
MBOE/D
    * HIGHPEAK ENERGY INC SEES 2024 EXIT PRODUCTION RATE 72 - 80
MBOE/D
    * HIGHPEAK ENERGY INC SEES AVERAGE PRODUCTION RATE 47 - 53
MBOE/D
FOR 2023
    * HIGHPEAK ENERGY INC SEES 2023 TOTAL CAPITAL EXPENDITURES
OF
BETWEEN $1,150 MILLION - $1,260 MILLION
    * HIGHPEAK ENERGY INC SEES  AVERAGE PRODUCTION RATE 70 - 76
MBOE/D
FOR 2024
    * HIGHPEAK ENERGY INC SEES 2024 TOTAL CAPITAL EXPENDITURES
OF
BETWEEN $870 MILLION - $930 MILLION

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