HighPeak Energy ( (HPK) ) has issued an update.
HighPeak Energy reported its financial and operational results for the fourth quarter and full year of 2024, showing a 10% increase in sales volumes and a 29% rise in proved reserves compared to 2023. The company reduced its long-term debt by $120 million, paid dividends, and repurchased shares, while also achieving a 17% decrease in lease operating expenses. Looking ahead to 2025, HighPeak plans to maintain a two-rig drilling program, reduce capital expenditures by 20%, and focus on optimizing its capital structure to enhance levered free cash flow. The company aims to continue its strategy of debt reduction, consistent dividends, and opportunistic share buybacks to reinforce shareholder value.
More about HighPeak Energy
HighPeak Energy, Inc. operates in the energy sector, focusing on the exploration and production of crude oil, natural gas, and natural gas liquids. The company is listed on NASDAQ under the ticker HPK and is committed to maintaining capital discipline and enhancing shareholder value through efficient operations and strategic financial management.
YTD Price Performance: -18.45%
Average Trading Volume: 252,059
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.51B
For a thorough assessment of HPK stock, go to TipRanks’ Stock Analysis page.