Energy Prospectus

the tide is going out

The name was 30 in February 2023 and did nothing, now it is 12 and they have to raise 100 m

https://ir.highpeakenergy.com/node/8281/html

I've never heard of this company.

https://ir.highpeakenergy.com/news-releases/news-release-details/highpeak-energy-inc-announces-pricing-underwritten-public-0

raised 135 m @ 10.50

HighPeak Energy is an independent oil and natural gas company focused on the development of unconventional oil and natural gas reserves in primarily Howard County of the Midland Basin. HighPeak was formed in 2020 through the business combination of HighPeak Energy and Pure Acquisition Corporation, a special purpose acquisition company formed by Jack Hightower, our Chairman and CEO. HighPeak is headquartered in Fort Worth, Texas.

You can read about their refinancing issues here:

https://seekingalpha.com/article/4617442-highpeak-energy-faces-challenges-with-refinancing-of-2024-notes

We tend to focus on the P&L and cash flow but the Balance Sheet should not be ignored particularly with near term refinacing issues. Good thing CRK pushed out its debt a few years !

From Neal Dingmann at Truist Financial on 7-19-2023

HighPeak Energy, Inc. (HPK, $12.87, Sell) - Trying to Bootstrap
Its Way to a Financial Solution; Lowering Price Target - Highpeak
announced a series of updates all leading to the goal of providing
adequate future financing, which we still believe could be quite
challenging and quite costly if completed. After another notable
quarterly cash flow outspend, the company must raise equity
in order to receive debt waivers, which would provide a better
chance to get some form of refinancing completed. We continue
to forecast several upcoming quarters of virtually no FCF leading
to our lower target price. We are lowering our PT to $6 from $8. -
Neal Dingmann