HighPeak Energy, Inc. announces operating results for the first quarter ended March 31, 2022. During the first quarter of 2022, the Company drilled 22 gross (19.7 net) operated horizontal wells utilizing approximately four drilling rigs. The Company completed 20 gross (16.0 net) operated horizontal wells.

At March 31, 2022, the Company was in various stages of completion on 24 gross (21.7 net) wells and was in the process of drilling 8 gross (8.0 net) operated horizontal wells. The Company also participated in drilling 3 gross (0.4 net) non-operated horizontal wells during the first quarter 2022 and is participating in drilling another 1 gross (0.3 net) non-operated horizontal well and had 3 gross (0.4 net) non-operated horizontal wells that were in various stages of completion at March 31, 2022.