HighPeak Energy Q2 net income $29.7M, raises 2024 production guidance by 4%

HighPeak Energy, Inc.

2024-Q2 EPS reported $0.25 revenue$563,030,000

Net income $29.7M ($0.21/diluted), adjusted net income $39.4M ($0.28/diluted); EBITDAX $215.8M.
Q2 sales volumes 48,531 Boe/d (+15% YoY), 89% liquids; current Q3 volumes averaging over 52,000 Boe/d.
Raised 2024 production guidance to 45,000-49,000 Boe/d; lowered LOE guidance to $6.50-$7.50/Boe.
Generated free cash flow $13.4M; reduced debt $30M; repurchased over 413,000 shares in Q2.
Declared $0.04 quarterly dividend payable Sept 25, 2024.

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