HighPeak Energy Q4 net income $95M; boosts dividend 60%, authorizes $75M buyback, explores strategic alternatives

HighPeak Energy, Inc.

Q4 net income $95.0M ($0.66 diluted EPS); EBITDAX $241.6M; revenue exceeded $1B for full year 2023.
Q4 sales volumes 50.0 MBoe/d (81% oil), up 34% YoY; full-year 86% growth to 45.6 MBoe/d.
2024 guidance: production 43-47 MBoe/d; capex $500-585M; proved reserves 154.2 MMBoe (+25%, PV-10 $2.9B).
Quarterly dividend raised 60% to $0.04/share ($5.1M); $75M share repurchase authorized.
Engaged Texas Capital and Wells Fargo to pursue strategic alternatives.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HighPeak Energy, Inc. updated its the full year and fourth quarter ended December 31, 2023 guidance (initiated).

Period: the full year and fourth quarter ended December 31, 2023
Guidance: initiated
Result: reported results

Exact text from the filing

On March 6, 2024, the Company issued a press release announcing its financial and operating results for the full year and fourth quarter ended December 31, 2023 and guidance for 2024.

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HighPeak Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-24-006815

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