HighPeak Energy rises after announcement of potential sale

HighPeak Energy

24/01/2023 11:22

** Shares of oil and gas producer HighPeak Energy Inc
 HPK.O  jump 15.2% to $31.02 in premarket trade
    ** HPK says evaluating a potential sale of the company
    ** HPK expects to become cash flow positive by second half
of 2023 
    ** Co also plans to reduce drilling operations to four rigs
from six
    ** Predicts 2023 average production of 47,000-53,000 barrels
of oil equivalent per day (boepd)
    ** Co averaged 35,750 boepd in Q3, 2022
    ** Stock had gained 56.2% last year
 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))