Updated Development Plan Accelerates Transition to Free Cash Flow Updated Development Plan 2023 & 2024 Outlook 2023 Production (MBoe/d) 2023 2024 Intentionally moderated development plan to accelerate free cash Average production…
HighPeak Overview Northern Midland Basin Pure-Play Capitalized For Profitable Oil-Weighted Value Creation Key Highlights Acreage Position and Select Offset Operators Q123 production average 37.2 MBoe/d Increased 209% Year Over…
Differentiated Growth Story Now Shifting to FCF Harvest Value Creation Over Time Exit Rate Production (Boe/d) Production growth demonstrates high rock quality and positions the LQA EBITDAX(1) company for significant free cash…
HighPeaks Margins Continue to Outpace Peers High oil cut, low-cost structure, and continued scaling of production lead to HPKs peer leading margins Q1 margins are33% above nearest peer HPK Q123 margin (52.56/Boe) is 55% higher vs.…
Enhancing Well Results Across Multiple Benches Continue to demonstrate consistent well results as we Improving Well Performance Year Over Year have expanded development across the acreage position and formations 2022 wells have…
Operations Flat Top Summary Q123 activity areas 5 Key Pads/Areas 2 1 Conrad pad Extended LS/WCA 4 miles northeast of development area 4 1 2 Griffin 48-37 B pad LS wells producing similar to WCA 6 3 Southeast Flat Top…
Operations Signal Peak Summary LowerSpraberry / Wolfcamp A 1 - 2 Delineation in advance of development 3 - 4 Initial development pads Lower Spraberry / Wolfcamp A Phase 1 Development 3 5 Wolfcamp D 3F 5 - 8 Testing additional…
Current ESG Update Power Facilities Fluid Sand Efficient Quality Recycling Environmental Running 1-2 rigs on electric Newly built Can supply 100% of the Local sand mine power, dual fuel frac crew VRU, VRT & instrument air…
Asset Ready for Full Development Central Tank Battery configuration Electrical Infrastructure Large Scalable Sand Mine Efficient Low emissions All electrical, SWD and recycle systems in place for full development Water…
HighPeak Exhibiting Leading Results in Howard and South Borden Counties Oil EUR Distributions per Enverus Relative to HPK Results East Howard & South Borden Oil EUR Distribution Delineation and Laterals to Date 1,250 Flat Top…
HighPeak Checks All the Boxes Operational 113,600 net acres in two highly contiguous blocks in the Midland Basin Scale First quarter year over year production growth of 200% Inventory 2,500 total gross locations; primary…
HIGHPEAK ENERGY, INC. Appendix 15
HighPeak Well Activity Rig Released In Progress(1) Turned in Line Wells 1Q23 As of 03/31/2023 1Q23 Gross Net Gross Net Gross Net OP 25 24.7 OP 62 60.2 OP 26 25.5 Nonop 0 0.0 Nonop 1 0.1 Nonop 6 0.3 Total 25 24.7 Total 63…
Substantial Inventory(1) Results Driven By Excellent Reservoir Performance Across Multiple Targets Remaining Inventory (Gross Locations) 2,500 Total Gross Locations Flat Top Signal Peak Total Primary Upside Primary Upside…
Year-End Proved Reserves Summary (1)(2) 2022 SEC Pricing - 93.67/Bbl & 6.358/MMBtu PV10 (mm) YE22 Proved Reserves by Category Multi-year drilling program has driven significant reserves additions and PV10 growth PUD…
SEC Pricing: Year-End 2022 Proved Reserves(1) Year-End 2022 Proved Reserves Net Proved Reserves Oil Gas NGL % of % Reserve Category (MBbl) (MMcf) (MBbl) Total (MBoe) Total Proved Liquids PV-10 (MM) Proved Developed Producing…
Improving Costs Per BOE LOE Production Taxes G&A Continued Optimization Gains: 13.49 Continued generator removal 1.40 A and solar farm integration 11.49 0.69 4.30 B Volume dilution of fixed costs 4.30 Infrastructure…
Hedges(1) Summary Average oil volumes of 4,492 Bo/d hedged from Q223 Q323 using swaps at an average price of 69.32/bbl Average oil volumes of 7,011 Bo/d hedged from Q223 Q423 using puts at an average price of 58.43/bbl…
Q1 2023 Summary Production Q1 2023 Earnings Q1 2023 Total sales volumes (MBoe) 3,350.0 Net Income (MM) 50.3 Total daily sales volumes (MBoe/d) 37.22 GAAP Earnings (per diluted share) 0.39 Oil percentage 85% EBITDAX (MM) 173.9…
Non-GAAP Reconciliation Reconciliation of Net Income to EBITDAX Unhedged Cash Operating Margin Reconciliation (in thousands) Quarter Ended Qtr. (in thousands) 31-Dec-21 31-Dec-22 31-Mar-23 Ended Net income 37,025 67,899 50,257…
Non-GAAP Reconciliation Reconciliation of Proved Reserves PV-10 to Standardized Measure As of As of As of (in thousands) 12/31/20 12/31/21 12/31/22 Reserves PV-10 235,490 1,338,193 3,872,045 Present value of future income…
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