HighPeak Energy, Inc. Provides Production Guidance for the Year 2022 and 2023
May 16, 2022 at 04:11 pm EDT
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HighPeak Energy, Inc. provided production guidance for the year 2022 and 2023. For the year 2022, the company expects average production rate to be in the range of 32,000 Boe/d to 37,500 Boe/d. Exit production rate expects to be in the range of 47,000 Boe/d to 53,000 Boe/d.
For the year 2023, the company expects average production rate to be in the range of 62,000 Boe/d to 72,000 Boe/d. Exit production rate expects to be in the range of 75,000 Boe/d to 85,000 Boe/d.
HighPeak Energy, Inc. is an independent crude oil and natural gas company. The Company is focused on the acquisition, development, exploration and exploitation of unconventional crude oil and natural gas reserves in the Midland Basin in West Texas. It focuses on brownfield the Midland Basin and specifically the Howard and Borden Counties area of the Midland Basin. Its assets include certain rights, title and interests in crude oil and natural gas assets located primarily in Howard and Borden Counties, Texas, and to a lesser extent, Scurry and Mitchell Counties, Texas. Its assets are located in the northeastern part of the Midland Basin. The Midland Basin is part of the Permian Basin of West Texas and Eastern New Mexico. The Permian Basin covers an area of about 96,000 square miles and is comprised of five sub-regions including the Midland Basin, the Central Basin Platform, the Delaware Basin, the Northwest Shelf and the Eastern Shelf.