HighPeak Energy Q3 revenue rises on higher production

HighPeak Energy

Mon 21:29

Overview
US oil and gas producer's Q3 revenue rose yr/yr
HighPeak announced $450 mln preferred equity investment and $800 mln credit facility to refinance debt

Outlook
Company raises 2026 average daily production guidance to 44,500–45,500 Boe/d
HighPeak lowers 2026 lease operating expense guidance to $8.00–$8.25 per Boe
Company increases 2026 capital expenditures guidance to $310–$320 mln

Result Drivers
HIGHER PRODUCTION - Co said Q3 production exceeded expectations, averaging 44,200 Boe/d, supported by operational efficiency improvements
IMPROVED EFFICIENCY - Drilling efficiencies allowed co to maintain steady activity and reinvest gains into additional opportunities
LOWER OPERATING COSTS - Lease operating expenses fell to $6.70 per Boe in Q3, contributing to margin improvement

Company press release: ID:nGNXshHvY

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$256.82 mln
$240.65 mln (2 Analysts)
Q3 Adjusted EPS
Beat
$0.32
$0.03 (2 Analysts)
Q3 Loss Per Share
 
$0.44
 
Q3 Net Loss
 
$55.70 mln
 
Q3 EBITDAX
 
$163.80 mln
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for Highpeak Energy Inc is $10.00, about 40.1% above its November 6 closing price of $7.14

Reuters Recommended Reads
Nov 9 - Canada's Strathcona Resources Q3 production rises sequentially, raises quarterly dividend
Nov 9 - Canada's Greenfire Q3 bitumen output more than doubles after Connacher deal
Nov 9 - Canada's Petrotal Q3 net loss driven by derivative losses

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)