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HighPeak Energy (HPK) guidance and outlook

HighPeak Energy's 10-Q filed Nov 9, 2026 makes 17 forward-looking statements.

Guidance and outlook

Forward-looking statements, 10-Q filed Nov 9, 2026

• As of September 30, 2026, HighPeak Energy was developing its properties using one (1) drilling rig and expects to average one (1) drilling rig and less than one (1) frac crew during the remainder of 2026 under our current development plan, depending on certain market conditions.
• Cumulative cash dividends on the Series A Preferred Stock will be payable quarterly in arrears, on March 31, June 30, September 30 and December 31 of each year, when, as and if declared by the Company's Board of Directors.
• The Preferred Stock will be mandatorily convertible at the option of the Company after the third anniversary of the Closing Date if the closing price of the Company’s common stock exceeds 150% of the Conversion Price for thirty out of forty consecutive market trading days.
• Pursuant to the certificate of designation establishing the Series A Preferred Stock (the “Certificate of Designation”), the holders of the Series A Preferred Stock, voting separately as a class, will be entitled to appoint and elect up to two directors in the aggregate to the Company’s Board of Directors (the “Series A Directors”), subject to certain qualification criteria.
• In connection with the closing of the Investment, the size of the Company’s Board of Directors will be increased by two directors and the initial Series A Directors designated by DIM and EMP, respectively, will be appointed to the Board of Directors.
• In response to the growing global crude oil supply constraints and the improved commodity pricing environment that began in March of 2026 which we consider temporary, the Company is maintaining flexibility in its capital plan as indicated by its plan to maintain a one (1) drilling rig program for 2026 depending on certain market conditions.
• The Company will continue to evaluate drilling and completion activity on an economic basis, with future activity levels assessed monthly.
• Given the dynamic nature of this situation, the Company is maintaining flexibility with its capital plan and will continue to evaluate drilling and completion activity on an economic basis, with future activity levels assessed regularly.
• The Company’s Term Loan Credit Agreement and Senior Credit Facility Agreement require the Company to hedge certain quantities of its projected crude oil production.
• Subject to the completion of the Investment and RBL, the Company expects its sources of funding will be adequate to fund its remaining 2026 planned capital expenditures and other short-term liquidity requirements, and to provide adequate liquidity to fund other needs.
• However, these expectations may be subject to significant uncertainty due to changes in crude oil, NGL and natural gas pricing, the risk that the Investment and RBL are not completed on the terms currently contemplated or at all, and potential covenant compliance issues under its debt instruments described below and no assurance can be given that such funding sources will be adequate to meet the Company’s future…
• In connection with the Investment, the Company entered into a debt commitment letter with Citibank and Fifth Third for a new senior secured reserve-based credit facility in an aggregate amount of up to $1.5 billion subject to an initial borrowing base of $800 million, consisting of a revolving credit facility with an initial elected commitment amount of $750 million and a $50 million term loan facility…

HighPeak Energy's latest quarter

Questions

What does HighPeak Energy expect?

As of September 30, 2026, HighPeak Energy was developing its properties using one (1) drilling rig and expects to average one (1) drilling rig and less than one (1) frac crew during the remainder of 2026 under our current development plan, depending on certain market conditions. Cumulative cash dividends on the Series A Preferred Stock will be payable quarterly in arrears, on March 31, June 30, September 30 and December 31 of each year, when, as and if declared by the Company's Board of Directors. The Preferred Stock will be mandatorily convertible at the option of the Company after the third

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Updated Nov 9, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.