Super-oily HighPeak Energy has hung its “For Sale” sign again, the northern Midland Basin-focused E&P reported.
The operator’s 154 MMboe of proved reserves are in eastern Howard and Borden counties, Texas.
Fourth-quarter production averaged 50,000 boe/d, 81% oil and 11% NGL.
Leasehold totals 132,000 net acres.
The company hired Texas Capital Securities and Wells Fargo Securities to “assist us in our pursuit of strategic alternatives,” it reported as part of its fourth-quarter 2023 earnings.
A campaign to sell the company in first-half 2023 failed to result in an acceptable bid.
Since then, Permian Basin M&A has heated, with three large operators—Pioneer Natural Resources, Endeavor Energy and CrownRock—agreeing to a sale.
HighPeak reported, “In a market landscape where oily, high-margin production and premier inventory are being pursued aggressively, we consider ourselves extremely fortunate to possess assets that meet these criteria.”
Recommended Reading
Utility, Clean Energy Company Allete to Go Private in $6.2B Deal
2024-05-06 - The Minnesota-based utility said on May 6 it agreed to be acquired by a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners.
SunPower Appoints Garzolini as Executive VP, Chief Revenue Officer
2024-03-14 - Tony Garzolini will oversee SunPower’s sales, including the direct, dealer and new homes channels, along with pricing and demand generation.
Vision RNG Expands Leadership Team
2024-05-01 - Vision RNG named Adam Beck as vice president of project execution, Doug Prechter as vice president of finance and Beckie Dille as HR manager.
First Solar’s 14 GW of Operational Capacity to Support 30,000 Jobs by 2026
2024-02-26 - First Solar commissioned a study to analyze the economic impact of its vertically integrated solar manufacturing value chain.
GE Vernova Completes Spin-Off from GE
2024-04-04 - GE Vernova, an energy transition company, began trading as an independent company on the New York Stock Exchange this week.