HIGHPEAK HISTORY Starting in 2017, HighPeak acreage was assembled through HighPeak I fund and HighPeak II fund investments over a period of 3 years Capital was contributed by management and investors to acquire HighPeaks current…
HIGHPEAK ENERGY Northern Midland Basin Pure-Play Capitalized for Efficient Oil-Weighted Value Generation Key Statistics Acreage Position and Selected Offset Operators Market cap 1.2 billion (as of Mar. 1, 2021) Production…
CGA YEAR-END 2020 PROVED RESERVES Flat 63.00/Bbl and 3.00/MMBtu CGA Year-End 2020 Proved Reserves (1) Net Proved Reserves Oil Gas NGL Total % of % PV-10 Reserve Category (MBbl) (MMcf) (MBbl) (MBoe) Total Liquids (MM)…
OPERATIONAL UPDATE Horizontal Wells Flat Top Overview HZ BENCH Statistics Lower Spraberry Well lengths ranging from Wolfcamp A 8,500 to over 15,000 SWD Horizontal Ellenburger SWD STATUS with high volume injection Producing…
CURRENT CAPITALIZATION AND GUIDANCE Current Capitalization Near-Term PDP Reserve Growth (3) As Reported ( in millions) 12/31/2020 Cash and cash equivalents 20 Revolving credit facility -- HighPeak expects Total debt --…
EVOLUTION OF DEVELOPMENT IN HOWARD COUNTY Howard County is one of the most active areas of the prolific Permian Basin with 19 rigs currently running and nearly 2,000 horizontal wells drilled to date 2016 Sticks 2020 Sticks 2021 and…
HOWARD COUNTY IS THE GROWTH ENGINE OF THE PERMIAN Howard County production mix has the highest oil percentage and margins across the Midland Basin (ie. best economics) and has seen the most rapid growth in oil volumes of all the major…
PEER-LEADING CAPITAL EFFICIENCY AND MARGINS Capital Efficiency Flat Top Capital Efficiency Through 28 Wells Drilled (D,C,E & F) (1) Continuous capital improvement 1,400 Facility (/ft) Completion (/ft) Pad development 1,200…
EASTERN HOWARD COUNTY THE NEXT BIG OIL PLAY Eastern Howard County projected wells compare favorably with Western Howard County wells Western vs. Eastern Howard County (Wolfcamp A 10,000) Howard County Map Western Eastern…
MIDLAND BASIN PEER BENCHMARKING HighPeak well results outperform peers in the Midland Basin HighPeak Well Performance vs. Midland Peers (1) HighPeak Well Performance (First 18 Wells at Flat Top) (2) 300 300 Consistent reservoir…
CGA TYPE CURVE ECONOMICS WCA and LSBY type curves Overview Wolfcamp A and Lower Spraberry type curve wells selected from geologically similar region HighPeak has directly analogous landing zones and oil in place to highly…
KEY RESULTS: PRIMARY TARGETS LL First EUR Oil EUR Well Name Operator (ft) Prod (MBoe) (Mbo/ft) 1 ALLAR 19A-30 1LS HANNATHON 7,580 Aug 2017 532 65 2 CHEVRON 3-56 UNIT 7LS GRENADIER 9,633 Feb 2020 819 63 3 DUSTY 4824LS SM ENERGY…
RESERVOIR QUALITY SIMILAR ACROSS HOWARD COUNTY SW NE Key Reservoirs Comparison Across Howard County Lower Spraberry Wolfcamp A West East West East Howard Howard Howard Howard Porosity 4.3% 4.7% 4.3% 4.3% Net to gross…
OIL-RICH MIXED LITHOLOGY ROCK COLUMN Spraberry and Wolfcamp sections comprised of mixed-lithology, kerogen-rich reservoirs Organic- Interbedded limestones are consistently kerogen- rich, high-porosity reservoir intervals rich…
OVER A DECADE OF INVENTORY Level of Delineation Middle Target Wolfcamp A Lower Spraberry Wolfcamp B Wolfcamp D Jo Mill Wolfcamp C Spraberry Flat Top Operated 156 165 173 173 172 172 0 Locations Signal Peak Operated 114 114 114…
SUBSTANTIAL EXISTING IN-BASIN INFRASTRUCTURE WITH PREMIER MIDSTREAM & MARKETING SOLUTIONS AVAILABLE Infrastructure Map At present, HighPeak incurs trucking costs of 1.50/Bbl but anticipates entering into a transportation agreement…
HIGHPEAKS COMMITMENT TO ESG HighPeak Energy continues to keep ESG considerations at the forefront of operations Flaring / Emissions Water Disposal and Recycle HighPeak is actively focused on eliminating air emissions Drilled…
INVESTMENT HIGHLIGHTS HighPeaks strong operational performance with leading well results creates a new leading Permian company Contiguous Acreage Sponsor and Management Superior and Differentiated Skilled, Cycle-Tested Position…
APPENDIX 23
KEY HIGHPEAK RESERVOIRS COMPARABLE TO W. HOWARD COUNTY Primary reservoirs have comparable rock quality on HighPeak acreage compared to Western Howard Lower Spraberry OOIP Wolfcamp A OOIP LSBY OOIP WC-A OOIP (Mmbo/mi2) (Mmbo/mi2)…
HIGHPEAK ACREAGE HAS MOST ATTRACTIVE LOWER WOLFCAMP De-risked Wolfcamp B and D shales have the highest OOIP in Howard County Wolfcamp B OOIP Wolfcamp D OOIP WC-B OOIP WC-D OOIP (Mmbo/mi2) (Mmbo/mi2) 0 40 0 44 25
SIGNAL PEAK OFFSETS PROLIFIC WOLFCAMP C HUTTO FIELD The Wolfcamp C Hutto reservoir is a mixed WC-C Hutto OOIP lithology interval that has produced 4.5 million (Mmbo/mi2) barrels of oil equivalent from 32 vertical wells 20 90 The…
PROVEN TRACK RECORD OF VALUATION CREATION Jack Hightower has experience Jack Hightower Selected Investment Returns developing assets for multiple ROI IRR classes of oil & gas investors 9.2x 100% Former CEO of two public…
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