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HPK

HighPeak Energy, Inc.

HPK

HighPeak Energy, Inc. • NASDAQ
$6.71 ▲ 3.07% (+0.20)
Market Cap $842.78 M
52w High $15.71
52w Low $5.17
Dividend Yield 0.16%
P/E 17.21
Volume 341.32K
Outstanding Shares 125.60M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $188.862M ▼ $12.291M ▲ $-18.335M ▼ -9.708% ▼ $-0.15 ▼ $114.76M ▼
Q2-2025 $200.4M ▼ $9.613M ▲ $26.176M ▼ 13.062% ▼ $0.19 ▼ $169.42M ▼
Q1-2025 $257.448M ▲ $7.03M ▼ $36.335M ▲ 14.114% ▲ $0.29 ▲ $190.553M ▲
Q4-2024 $234.806M ▼ $8.459M ▼ $8.981M ▼ 3.825% ▼ $0.065 ▼ $155.907M ▼
Q3-2024 $271.578M $10.731M $49.933M 18.386% $0.36 $242.448M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $164.913M ▲ $3.205B ▲ $1.578B ▲ $1.627B ▼
Q2-2025 $21.853M ▼ $3.089B ▼ $1.435B ▼ $1.654B ▲
Q1-2025 $51.619M ▼ $3.093B ▲ $1.46B ▼ $1.633B ▲
Q4-2024 $86.649M ▼ $3.063B ▲ $1.461B ▲ $1.602B ▼
Q3-2024 $135.573M $3.061B $1.456B $1.606B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-18.335M ▼ $120.239M ▼ $-104.726M ▲ $127.547M ▲ $143.06M ▲ $31.079M ▲
Q2-2025 $26.176M ▼ $141.213M ▼ $-165.484M ▼ $-5.495M ▲ $-29.766M ▲ $13.808M ▲
Q1-2025 $36.335M ▲ $157.052M ▲ $-156.594M ▼ $-35.488M ▲ $-35.03M ▲ $2.405M ▲
Q4-2024 $8.981M ▼ $139.518M ▼ $-145.016M ▲ $-43.426M ▲ $-48.924M ▼ $-5.719M ▼
Q3-2024 $45.098M $177.103M $-151.215M $-48.226M $-22.338M $20.592M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Crude Oil Sales
Crude Oil Sales
 $520.00M ▲$250.00M ▼$200.00M ▼$190.00M ▼
Natural Gas and NGL Sales
Natural Gas and NGL Sales
 $10.00M ▲$10.00M ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement HighPeak has moved from being a small, unprofitable driller to a solidly profitable producer in just a few years. Revenue climbed rapidly through the build‑out phase and then leveled off more recently, suggesting a shift from explosive growth to more measured, cash‑focused operations. Operating margins are strong for an oil producer, reflecting efficient drilling and a high share of oil in the mix. That said, bottom‑line profit has come down from its recent peak, likely due to softer commodity prices, higher financing costs, and the transition from pure growth to a more balanced approach. Overall, the business is clearly viable and reasonably efficient, but earnings are sensitive to oil prices and capital choices.

Balance Sheet

Balance Sheet The balance sheet shows a classic pattern for a fast‑growing oil company: assets and equity have grown quickly as the company drilled and developed its acreage, but so has debt. Leverage is now meaningful rather than minimal, though it appears to have stabilized rather than continuing to ramp. Cash on hand is modest relative to the size of the asset base, which is typical for a capital‑intensive producer but leaves less buffer in a downturn. The equity base has strengthened over time, which helps support the higher debt load, but the company still needs to manage borrowing carefully given the cyclicality of oil prices.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations has improved significantly, showing that the underlying assets are productive and cash rich. For several years, however, the company spent heavily on new wells and infrastructure, which kept free cash flow negative despite strong operating inflows. More recently, capital spending has been pulled back enough that free cash flow has finally turned positive, aligning with management’s focus on financial discipline. This marks an important transition: from funding growth largely with debt and reinvestment, to beginning to live within cash flow. Sustaining this while maintaining production will be a key test.

Competitive Edge

Competitive Edge HighPeak’s main edge is “where” it operates and “how” it executes. It holds a concentrated, high‑quality position in a prime part of the Midland Basin, which supports low costs and high‑margin oil production. The contiguous nature of its acreage allows for long, efficient wells and shared infrastructure, improving economics versus more scattered peers. Its production mix is heavily oil‑weighted, which typically commands better pricing than gas and liquids. On the other hand, the company is relatively small compared to major Permian players, heavily exposed to a single region, and entirely tied to volatile commodity prices. Its moat rests more on execution and land quality than on unique technology.

Innovation and R&D

Innovation and R&D Innovation here is mostly about better execution, not breakthrough science. HighPeak has focused on long horizontal wells, tailored completion designs, and strong field logistics, including its own gathering and water systems. This combination helps it drill faster, bring wells online sooner, and keep operating costs down. The company is also starting to blend in sustainability and cost initiatives, such as using solar power for operations and recycling water. Looking ahead, there is room to deepen the use of data and analytics to squeeze more performance from each well. Overall, its “R&D” is practical and operational, aimed at doing more with the same acreage rather than reinventing the business model.

Summary

HighPeak has evolved quickly from a high‑spend growth story into a more mature producer with solid profitability and improving cash discipline. Its strengths lie in high‑quality Midland Basin acreage, oil‑heavy production, and strong operational execution, which together support attractive margins. The trade‑offs are higher leverage, relatively low cash reserves, and heavy dependence on one basin and on oil prices. If it can maintain positive free cash flow while managing debt and sustaining production, the financial profile should continue to firm up. The key variables to watch are capital spending discipline, debt trends, and how effectively it continues to exploit and expand its drilling inventory in a volatile commodity environment.

NEWS

November 5, 2025 · 4:02 PM UTC

HighPeak Energy, Inc. Announces Third Quarter 2025 Financial and Operating Results and Recent Management Changes

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September 16, 2025 · 5:50 AM UTC

HighPeak Energy, Inc. Announces CEO Transition

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