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

Published on January 23, 2023 01:13 PM PST

Jan 23 (Reuters) - Highpeak Energy Inc:

* 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: Further company coverage:

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