HighPeak Energy Inc. (HPK) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
421 W. 3RD STREET FORT WORTH, TX 76102 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 1381 - Drilling Oil and Gas Wells (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | |||
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Current Assets | |||||||
| Cash, cash equivalents, and short-term investments | 194,515 | 30,504 | 34,869 | 19,552 | |||
| Cash and cash equivalents | 194,515 | 30,504 | 34,869 | 19,552 | |||
| Receivables | 94,589 | 96,596 | 39,378 | 7,722 | |||
| Inventory, net of allowances, customer advances and progress billings | 7,254 | 13,275 | 3,304 | 121 | |||
| Inventory | 7,254 | 13,275 | 3,304 | 121 | |||
| Prepaid expense | 995 | 4,133 | 7,154 | 2,254 | |||
| Derivative instruments and hedges, assets | 31,480 | 17 | 2,199 | ||||
| Deposits current assets | 50 | 50 | |||||
| Other undisclosed current assets | 3,596 | ||||||
| Total current assets: | 328,833 | 144,525 | 86,954 | 33,295 | |||
| Noncurrent Assets | |||||||
| Property, plant and equipment | 3,572 | 3,587 | 1,600 | 1,092 | |||
| Oil and gas, successful efforts method, property and equipment, after accumulated depreciation, depletion, amortization, and impairment | 2,726,643 | 2,124,939 | 725,615 | 502,636 | |||
| Derivative instruments and hedges | 16,059 | ||||||
| Other noncurrent assets | 5,684 | 6,431 | 4,791 | 907 | |||
| Total noncurrent assets: | 2,751,958 | 2,134,957 | 732,006 | 504,635 | |||
| TOTAL ASSETS: | 3,080,791 | 2,279,482 | 818,960 | 537,930 | |||
| LIABILITIES AND EQUITY | |||||||
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts payable and accrued liabilities | 114,318 | 149,940 | 70,553 | 19,955 | |||
| Accounts payable | 63,583 | 105,565 | 38,144 | 7,581 | |||
| Accrued liabilities | 50,735 | 44,375 | 32,409 | 12,374 | |||
| Debt | 120,000 | ||||||
| Derivative instruments and hedges, liabilities | 13,054 | 16,702 | 13,591 | ||||
| Other liabilities | 343 | 8,015 | 2,480 | ||||
| Other undisclosed current liabilities | 40,021 | 99,144 | 10,841 | ||||
| Total current liabilities: | 287,393 | 266,129 | 103,000 | 22,435 | |||
| Noncurrent Liabilities | |||||||
| Long-term debt and lease obligation | 1,030,299 | 704,349 | 97,929 | ||||
| Long-term debt, excluding current maturities | 1,030,299 | 704,349 | 97,929 | ||||
| Liabilities, other than long-term debt | 210,378 | 139,357 | 64,968 | 41,269 | |||
| Asset retirement obligations | 13,245 | 7,502 | 4,260 | 2,293 | |||
| Deferred income tax liabilities | 197,068 | 131,164 | 55,802 | 38,898 | |||
| Other liabilities | 831 | 78 | |||||
| Operating lease, liability | |||||||
| Derivative instruments and hedges, liabilities | 65 | 691 | 4,075 | ||||
| Total noncurrent liabilities: | 1,240,677 | 843,706 | 162,897 | 41,269 | |||
| Total liabilities: | 1,528,070 | 1,109,835 | 265,897 | 63,704 | |||
| Equity | |||||||
| Equity, attributable to parent | 1,552,721 | 1,169,647 | 553,063 | 474,226 | |||
| Common stock | 13 | 11 | 10 | 9 | |||
| Additional paid in capital | 1,189,424 | 1,008,896 | 617,489 | 581,426 | |||
| Retained earnings (accumulated deficit) | 363,284 | 160,740 | (64,436) | (107,209) | |||
| Total equity: | 1,552,721 | 1,169,647 | 553,063 | 474,226 | |||
| TOTAL LIABILITIES AND EQUITY: | 3,080,791 | 2,279,482 | 818,960 | 537,930 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|---|
| Revenues | 1,111,293 | 755,686 | 220,124 | |||
| Cost of revenue | (654,737) | (318,987) | (106,934) | |||
| Gross profit: | 456,556 | 436,699 | 113,190 | |||
| Operating expenses | (21,832) | (14,135) | (11,343) | |||
| Other undisclosed operating loss | (8,262) | |||||
| Operating income: | 426,462 | 422,564 | 101,847 | |||
| Nonoperating income (expense) | 30,510 | (59,739) | (26,900) | |||
| Investment income, nonoperating | 30,510 | (59,739) | (26,733) | |||
| Interest and debt expense | (175,201) | (50,610) | (2,484) | |||
| Income from continuing operations before equity method investments, income taxes: | 281,771 | 312,215 | 72,463 | |||
| Other undisclosed loss from continuing operations before income taxes | ||||||
| Income from continuing operations before income taxes: | 281,771 | 312,215 | 72,463 | |||
| Income tax expense | (65,905) | (75,361) | (16,904) | |||
| Income from continuing operations: | 215,866 | 236,854 | 55,559 | |||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 55,559 | ✕ | |
| Net income attributable to parent: | 215,866 | 236,854 | 55,559 | |||
| Other undisclosed net loss available to common stockholders, basic | (21,890) | (22,991) | (4,674) | |||
| Net income available to common stockholders, basic: | 193,976 | 213,863 | 50,885 | |||
| Dilutive securities, effect on basic earnings per share | 334 | 401 | 58 | |||
| Net income available to common stockholders, diluted: | 194,310 | 214,264 | 50,943 | |||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|---|
| Net income: | 215,866 | 236,854 | 55,559 | |||
| Comprehensive income, net of tax, attributable to parent: | 215,866 | 236,854 | 55,559 | |||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.