HIGHPEAK ENERGY: CORE MIDLAND PURE-PLAY Northern Midland Basin Pure-Play Capitalized for Efficient Oil-Weighted Value Generation Overview and Key Statistics Pro Forma Acreage Position and Selected Offset Operators Production…
PRO FORMA PRODUCTION GROWTH Q1/2021 Q2/2021 Q3/2021 Q4/2021 Q1/2022 Q2/2022E Q3/2022E Q4/2022E 2023E Pro forma FY 2023E Avg. Key Events Guidance: 62 72 Mboe/d A Winter Storm Uri Pro forma FY 2022E Exit B Offset Fracing Guidance:…
OIL WEIGHTED GROWTH TO CONTINUE FY 2021 Avg. Est. FY 2022 Avg. Est. FY 2023 Avg. 9.3 Mboe/d 32-37.5 Mboe/d 62-72 Mboe/d Average Production (MBOE/d) 9.3 32 37.5 62 - 72 Exit Production Rate (MBOE/d) 14.8 47 - 53 75 - 85 (1)…
2022 ACQUISTIONS ADDING CASH FLOW, SCALE AND DEVELOPMENT RUNWAY Checked All the Boxes Flat Top Area - Bolt-On Acquisitions Signal Peak Area - Hannathon Acquisition Acreage HighPeak Hannathon Added 10,000 net acres;…
Q1/2022 MARGINS Unhedged EBITDA margins for the 3 months ended 3/31/22 (/Boe)(1) Strong oil-weighted margins Positioned to accelerate margin growth with LOE reduction initiatives and dilution of fixed costs Illustrative margin…
FLAT TOP ACTIVITY Summary Drilling Northwest wells Average 4 rigs during remainder of 2022 demonstrate peak oil Primary focus of co-developing LS/WCA rates of 1,300 bopd Completions Avg. 1-2 frac crews for remainder of 2022…
SIGNAL PEAK ACTIVITY Summary Remaining 2022 Outlook Average 1 rig on legacy HighPeak acreage Continuation of 1 rig drilling program on Hannathon acquired acreage Delineation across position in progress New LS, WA & WD well…
SIGNAL PEAK INFRASTRUCTURE DEVELOPMENT HighPeak System Infrastructure design and implementation in progress Continue buildout of HighPeaks water system to provide for increased recycling capabilities Drill one saltwater disposal…
SIGNAL PEAK WOLFCAMP D ECONOMICS(1) Base Capital Economics 90/bbl 100/bbl 110/bbl D,C,E&F Capital (mm) 10.73 Gross IP365 (Boe/d) 731 % Oil 75% Oil EUR (Mbo) 660 Gas EUR (Mmcf) 1,999 Total EUR (Mboe) 993 Reserves (% oil / %…
ESG AND SUSTAINABILITY STRATEGY Great for the environment and for the Companys bottom line Due to HighPeaks unique position, Q1 Recycled 70% of Flat Top stimulation fluids our ESG initiatives are both environmentally and fiscally…
MITIGATING CAPITAL COST ESCALATION Sand Trucking Pipe Fuel Water Began Sand mine Aggressively Substation Water system contracting for proximity started pre- Electrification provides local sand at reduces purchasing project…
UPDATED PRO FORMA OUTLOOK Updated Pro Forma Outlook 2022 2023 Estimated Average Production Low High Low High Production FY 2021 Est. FY 2022 Est. FY 2023 Average Rate (Boe/d) 32,000 - 37,500 62,000 - 72,000 Exit Rate (Boe/d) 47,000…
GROWTH STORY CONTINUES COMPANY OBJECTIVES Responsible Growth Strong Balance Sheet Operational Excellence Peer Leading Margins 16
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 17
Appendix 18
HEDGES(1) Summary Average volumes of 7,213 Bo/d hedged for remainder of 2022 at average price of 72.25/bbl(2) Midpoint 2022 Guidance(3) = 28,000 Bo/d (81% oil) Hedged volumes reflect 25% of remaining projected 2022 oil…
NON-GAAP RECONCILIATIONS Reconciliation of Net Income to EBITDAX Unhedged Cash Operating Margin Reconciliation (in thousands) Three Months (in thousands) Three Months Ended Ended 31-Mar-22 31-Mar-22 Net loss (16,664) Oil,…
FLAT TOP DEVELOPMENT DELIVERS TOP TIER ECONOMICS(1) Base Capital Economics 90/bbl 100/bbl 110/bbl D,C,E&F Capital (mm) 7.25 Gross IP365 (Boe/d) 509 % oil 92% Oil EUR (Mbo) 701 Gas EUR (Mmcf) 569 Total EUR (Mboe) 795 Reserves (%…
HIGHPEAK WELL ACTIVITY As of March 31, 2022 FLAT TOP SIGNAL PEAK LEGEND LEGEND Producing Producing In Progress In Progress Non-HighPeak Non-HighPeak Rig Released Wells Turned In Line In Progress(1) 1Q22 2022 YTD 1Q22…
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