Reports Q3 revenue $204.114M vs $47.472M. HighPeak CEO, Jack Hightower said "Looking over our brief history as a public company, we have expanded our development program across the entirety of our acreage position and in several formations and, as a result, we have delineated significant proven reserves. We have also continued to improve performance as evidenced by our 2022 average well results outperforming earlier vintage wells. This speaks to the quality of the reservoirs across our entire block and the bright future ahead for HighPeak. In addition, we have increased production and cash flow at a rate rarely ever seen in the industry and we accomplished most of this growth organically. For example, our current quarter to date production rate is over 60% higher than our second quarter average. HighPeak achieved this monumental feat, in spite of experiencing the same supply chain constraints and inflationary pressures faced by our industry throughout the past year, while maintaining a very healthy balance sheet."
Published first on TheFly
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