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HighPeak Energy (HPK) investor relations material
HighPeak Energy Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 production averaged 48.6 MBoe/d, with 70% oil and 85% liquids, and net income was $26.2 million ($0.19 per diluted share), supported by $156 million EBITDAX and disciplined capital spending.
Capital expenditures for Q2 2025 were $125.4 million, down over 30% from Q1, reflecting a planned slowdown and focus on operational efficiency.
Extended debt maturities to September 2028, upsized the term loan to $1.2 billion, and deferred amortization payments, increasing liquidity and financial flexibility.
Quarterly dividend of $0.04 per share declared and paid, with $5.0 million distributed in June and another $5.0 million declared for September 2025.
Management remains confident in meeting full-year 2025 production guidance, supported by operational efficiencies and hedging strategies.
Financial highlights
Q2 2025 EBITDAX was $156 million, with EBITDAX per Boe at $33.58 and operating revenues of $200.4 million.
Net income for Q2 2025 was $26.2 million, compared to $29.7 million in Q2 2024; average daily sales volumes were 48,649 Boepd.
Capex for Q2 2025 was $125.4 million, with 13 wells released and 14 turned in line.
Total net debt as of June 30, 2025, was $1.03 billion, with a net debt/TTM EBITDAX ratio of 1.4x.
Liquidity at quarter end ranged from $200–$268 million, with cash and equivalents at $21.9 million.
Outlook and guidance
Yearly production guidance remains unchanged, with quarter-to-quarter volume fluctuations expected due to pad timing.
2025 capital budget set at $375–$405 million for drilling/completion, $40–$50 million for field infrastructure, and $33–$35 million for one-time infrastructure expenditures.
Significant portion of production hedged through March 2027 to mitigate commodity price risk, with at least 50% of projected crude oil and 89% of gas volumes hedged for 2H25.
Flexibility to operate with one or two rigs and adjust activity based on market and commodity price conditions.
Positioned for long-term value creation with a large, contiguous acreage base and over 1,000 sub-$50/Bbl breakeven locations.
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