HIGHPEAK ENERGY: CORE MIDLAND PURE-PLAY Northern Midland Basin Pure-Play Capitalized for Efficient Oil-Weighted Value Generation Overview and Key Statistics Acreage Position and Selected Offset Operators Production 14.9…
Q4 2021 SUMMARY Production Q4 2021 Earnings Q4 2021 Total production (MBoe) 1,369.0 Net Income (MM) 37.0 Total production (MBoe/d) 14.9 GAAP Earnings (per diluted share) 0.35 Oil percentage 88% EBITDAX (MM) 72.4 Liquids percentage 95%…
TRACK RECORD OF DELIVERING CAPITAL EFFICIENT OIL-WEIGHTED GROWTH TO CONTINUE Estimated Annualized FY 2020 FY 2021 Estimated FY 2022 FY 2023 2022 Exit Rate 40 45 27 32.5 Production (MBoe/d) 9.3 1.9 1,400(2)…
RAPID PROVED DEVELOPED RESERVES GROWTH Proved Developed Expected Significant increase 3.4 3.8B by adding 100 wells in 2022 400 million Continued growth increase by adding With drilling in Q4/21 51 million increase due to 33…
MIDLAND BASIN PEER BENCHMARKING HighPeak well results outperform peers in the Midland Basin HighPeak Well Performance (1) vs. Midland Peers (2) 300 250 Cumulative Oil Production (Mbbls) 200 150 100 50 HPK…
FLAT TOP DEVELOPMENT DELIVERS TOP TIER ECONOMICS(1) Base Capital Economics 70/bbl 80/bbl 90/bbl D,C,E&F Capital (mm) 6.93 Gross IP365 (Boe/d) 509 % oil 92% Oil EUR (Mbo) 701 Gas EUR (Mmcf) 569 Total EUR (Mboe) 795 Reserves (%…
2021 MARGINS EBITDA margins for the 12 months ended 12/31/21 (/Boe)(1) Strong oil-weighted margins Positioned to accelerate margin growth with LOE reduction initiatives and dilution of fixed costs Hedged 48.35 33.44 29.88…
OPERATIONS UPDATE Flat Top Manufacturing mode Signal Peak Initial pad development LEGEND Lower Spraberry Wolfcamp A LEGEND Wolfcamp B Producing Wolfcamp C (Hutto) In Progress Wolfcamp D Non-HighPeak In Progress…
ESG AND SUSTAINABILITY STRATEGY Q4 - Recycled 58% of Frac fluids Increasing access to local non-potable water 100% of stim fluid needs for one frac crew in Flat Top recycled and non-potable Flat Top substation constructed 2Q…
2022 4 RIG OUTLOOK 2022 4 Rig Outlook 4-RIG Low High Production DAILY PRODUCTION (Boe/d) Average Rate (Boe/d) 27,000 - 32,500 45,000 Exit Rate (Boe/d) 40,000 - 45,000 40,000 Capex ( millions) 35,000 Capital Expenditures, D,C,E &…
LIQUIDITY and FINANCIAL OVERVIEW As Reported Overview (MM) 12/31/21 Closed on the previously announced private placement of Cash and cash equivalents 35 225mm 10.0% senior unsecured notes due 2024. Revolving credit facility due…
HIGHPEAK CONTINUES TO BE A GROWTH STORY Responsible Growth Continuing efficient production growth. May increase rig count if market conditions warrant Strong Balance Sheet Increased liquidity from recent notes offering. Go…
HIGHPEAK ENERGY, INC. Contact Information Corporate Headquarters 421 W. 3rd St., Suite 1000 Fort Worth, TX 76102 www.highpeakenergy.com Ryan Hightower, Vice President - Business Development (817) 850-9204 IRhighpeakenergy.com 16
Appendix 17
HEDGES(1) Summary Average volumes of 8,082 Bo/d hedged in 2022 at average price of 71.27/bbl Midpoint 2022 Guidance = 29,750 Boe/d (82% oil) Hedged volumes reflect < 35% of projected 2022 oil volumes Current VOL (MBbl) Price…
HIGHPEAK YEAR-END 2021 PROVED RESERVES Flat 72.00 Oil / 3.75 Gas Year-End 2021 CGA Reserve Report Year-End 2021 Proved Reserves Net Proved Reserves Oil Gas NGL Total % of % Reserve Category (MBbl) (MMcf) (MBbl) (MBoe) Total…
SEC PRICING: CGA YEAR-END 2021 PROVED RESERVES(1) Year-End 2021 Proved Reserves Net Proved Reserves Oil Gas NGL Total % of % Reserve Category (MBbl) (MMcf) (MBbl) (MBoe) Total Liquids PV-10 (MM) Proved Developed Producing (PDP)…
NON-GAAP RECONCILIATIONS Reconciliation of Net Income to EBITDAX Unhedged Cash Operating Margin Reconciliation Calculation of Net Debt (in thousands) Three Months (in thousands) Three Months (in millions) As of Ended Ended…
HIGHPEAK YEAR END 2021 WELL COUNT FLAT TOP SIGNAL PEAK LEGEND Lower Spraberry Wolfcamp A LEGEND Wolfcamp B Producing Wolfcamp C (Hutto) In Progress Wolfcamp D Non-HighPeak In Progress Rig Released Wells Turned In Line In…
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