HighPeak Energy, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 16, 2022 at 04:06 pm EDT
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HighPeak Energy, Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported revenue was USD 92.23 million compared to USD 25.72 million a year ago. Net loss was USD 16.51 million compared to net income of USD 4.74 million a year ago. Basic loss per share from continuing operations was USD 0.17 compared to basic earnings per share from continuing operations of USD 0.05 a year ago. Diluted loss per share from continuing operations was USD 0.17 compared to diluted earnings per share from continuing operations of USD 0.05 a year ago.
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.