Company Overview Midland Basin Pure Play 53 MBoe/D 197.3 MM Q1 Production Q1 EBITDAX1 MIDLAND BASIN 143,000 1,000 41.90 Net Acres Sub 50 Breakeven Q1 Unhedged Locations EBITDAX/BOE Narrowing & Raising Production…
Q1 2025 Operational Efficiencies Spud to Spud3 2025 Guided Pace 2025 Q1 Achieved Pace 3 fewer days/well Recent activity demonstrating 26% 14 days 11 days increase in average daily footage drilled per rig1 Continued improvements…
Q1 2025 Budget Update Outsized Portion of 2025 Development Activity Accomplished in Q1 Spudded 20 wells 2025 Total Capital Guide Rig released & completed 16 wells (vs 12 448 - 490 MM 01 initially planned) Costs in line with…
Go Forward 2025 Development Plan Modifying Drilling Program to Remain Within 2025 Guided Activity Levels Revised Rig Plan Dropping one rig from May J F M A through August Planned return of 2nd rig in M J J A September No change…
D,C&E Costs Update HPK Starting to See Costs Softening in Certain Large Ticket Items Drilling Rig Drilling DR OCTG/Casing ILL ING Equip. / Rentals IONS Stimulation Completions ET L Equip. / Rentals P…
Profitable Reserve Growth and Development 3-Year Reserve Replacement Ratio 1 3-year reserve replacement ratio of 400% driven by drill bit reserve additions HPK is one of few E&P companies able to deliver profitable development at…
Ahead of the Curve HighPeak has consistently been ahead of the industry due to extensive basin experience and specialized geologic research Enverus PF2024 Outline1 355 gross operated wells Enverus PF2025 Outline1 drilled 80…
Positioned for Value Creation Large contiguous acreage position with oil-weighted, multi-zone inventory 143,000 net acres 1,000 sub 50/Bbl Long runway of high-value inventory relative to peers break-even in primary zones1…
HIGHPEAK ENERGY, INC. Appendix 12
HighPeak Well Activity Rig Released In Progress Turned in Line Wells 1Q25 As of 3/31/2025 1Q25 Gross Net Gross Net Gross Net OP 16 16.0 OP 28 28.0 OP 13 12.9 Non-Op 0 0.0 Non-Op 0 0.0 Non-Op 0 0.0 Total 16 16.0 Total 28 28.0…
Q1 2025 Summary Production 1Q25 Earnings 1Q25 Total sales volumes (MBoe) 4,781.5 Net Income (MM) 36.3 Total daily sales volumes (MBoe/d) 53.1 Earnings Per Diluted Share 0.26 Oil percentage 72% EBITDAX (MM) 197.3 EBITDAX Per Diluted…
Non-GAAP Financial Measures Reconciliations Reconciliation of Net Income to EBITDAX (in thousands) Quarters Ended Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Net income 36,335 8,981 49,933 29,717 6,438 Interest expense 36,988 39,508 42,579…
Non-GAAP Financial Measures Reconciliations Net Debt Free Cash Flow (mm) As of (in thousands) Quarters Ended 31-Mar-25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Long-term debt 1,050 Net cash provided by operations 157,052 139,518 177,103…
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