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Source: https://agrigateglobal.com/feed/

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<title>Non-Meat Ingredients Market Booming: A Boon for Meat Product Innovation and Freshness</title>
<link>https://agrigateglobal.com/press-release/non-meat-ingredients-market-booming-a-boon-for-meat-product-innovation-and-freshness/</link>
<comments>https://agrigateglobal.com/press-release/non-meat-ingredients-market-booming-a-boon-for-meat-product-innovation-and-freshness/#respond</comments>
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<pubDate>Mon, 13 May 2024 13:00:00 +0000</pubDate>
<category><![CDATA[Press Release]]></category>
<guid isPermaLink="false">https://www.globenewswire.com/news-release/2024/05/13/2880479/0/en/Non-Meat-Ingredients-Market-Booming-A-Boon-for-Meat-Product-Innovation-and-Freshness.html2880479</guid>
<description><![CDATA[The global non-meat ingredients market size is anticipated to grow at a CAGR of 4.4% between 2024 to 2029 Chicago, May 13, 2024 (GLOBE NEWSWIRE) — The global non-meat ingredients market is sizzling, projected to reach $51.1 billion by 2029 from $41.2 billion in 2024. This tasty growth reflects the crucial role these ingredients play […]]]></description>
<content:encoded><![CDATA[The global non-meat ingredients market size is anticipated to grow at a CAGR of 4.4% between 2024 to 2029
Chicago, May 13, 2024 (GLOBE NEWSWIRE) — The global non-meat ingredients market is sizzling, projected to reach $51.1 billion by 2029 from $41.2 billion in 2024. This tasty growth reflects the crucial role these ingredients play in creating mouthwatering and unique meat products.
For meat manufacturers locked in a battle for customers, non-meat ingredients are a game-changer. They offer a flavor and texture toolbox to craft innovative products that go beyond the ordinary.
Request Sample Pages of Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=74113633
Spice Up Your Meat Offerings
Imagine infusing your meats with smoky barbecue, zesty garlic, or fiery chipotle. Flavoring agents are revolutionizing the taste of meat, turning them into culinary masterpieces. These cater to adventurous palates and keep customers coming back for more.
But it’s not just about taste. Non-meat ingredients like preservatives act as guardians of freshness, ensuring your products stay top-notch throughout storage and distribution. This translates to happy customers and less food waste, making it a win for everyone.
Texture Talks: From Tender to Chewy
Ever crave a juicy, melt-in-your-mouth steak or a satisfyingly chewy sausage? Texturizing agents are the secret weapon for achieving these perfect textures. They allow manufacturers to create an array of products that hit all the right sensory notes.
By embracing this ingredient diversity, meat producers can offer a symphony of options, from classic favorites to bold new creations. This not only builds brand loyalty but also fuels the demand for non-meat ingredients, pushing the industry towards further innovation.
Fresh Meat Reigns Supreme
Fresh meat continues to be the king of the castle, holding the largest market share. This is likely due to consumer concerns about quality, safety, and wanting to know where their food comes from. Fresh meat also boasts a health halo, being a rich source of protein, vitamins, and minerals.
Non-meat ingredients play a starring role here too. They can subtly enhance the taste, texture, and shelf life of fresh meat without compromising its perceived naturalness. Think of ingredients like salt for flavor and binders for keeping things moist.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=74113633
Asia Pacific: The Land of Flavorful Ingredients
The booming fast-food culture in Asia Pacific is driving the demand for non-meat ingredients. The region’s love affair with Western fare like burgers and sausages is creating a massive appetite for these taste and texture enhancers.
India, for example, is experiencing explosive growth in its QSR industry, further amplifying the need for innovative non-meat ingredients. This trend is likely to continue, solidifying Asia Pacific’s position as a major player in this ever-evolving market.
Key Market Players
The key players in this market include Kerry Group plc. (Ireland), Ingredion (US), Associated British Foods plc (UK), International Flavors & Fragrances Inc. (US), ADM (US), Cargill, Incorporated (US), BASF SE (Germany), DSM (Netherlands), Advanced Food Systems, Inc (US), and Essentia Protein Solutions (US).
Browse Related Reports:
Meat Substitutes Market
Meat Processing Equipment Market
Fruit & Vegetable Ingredients Market 
Specialty Food Ingredients Market
<pre>CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com</pre>
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<title>The new energy index trading platform PHPGOV has announced a strategic partnership with leading energy companies to promote the development and application of energy globally.</title>
<link>https://agrigateglobal.com/press-release/the-new-energy-index-trading-platform-phpgov-has-announced-a-strategic-partnership-with-leading-energy-companies-to-promote-the-development-and-application-of-energy-globally/</link>
<dc:creator><![CDATA[GlobeNewswire]]></dc:creator>
<pubDate>Fri, 10 May 2024 20:00:00 +0000</pubDate>
<category><![CDATA[Press Release]]></category>
<guid isPermaLink="false">https://www.globenewswire.com/news-release/2024/05/10/2879813/0/en/The-new-energy-index-trading-platform-PHPGOV-has-announced-a-strategic-partnership-with-leading-energy-companies-to-promote-the-development-and-application-of-energy-globally.html2879813</guid>
<description><![CDATA[New York, NY, May 10, 2024 (GLOBE NEWSWIRE) — May 10th—As global demand for renewable energy continues to rise, the new energy sector has become a focal point for development by governments and corporations worldwide. Recently, PHPGOV, a leading new energy index trading platform, announced strategic partnerships with several top energy companies to jointly advance […]]]></description>
<content:encoded><![CDATA[New York, NY, May 10, 2024 (GLOBE NEWSWIRE) — May 10th—As global demand for renewable energy continues to rise, the new energy sector has become a focal point for development by governments and corporations worldwide. Recently, PHPGOV, a leading new energy index trading platform, announced strategic partnerships with several top energy companies to jointly advance the development and application of new energy globally and contribute to building a clean and sustainable energy future.
PHPGOV, recognized as a pioneer in the new energy sector, is committed to establishing a globally leading new energy index trading platform that offers investors a secure and convenient channel for investing in new energy. By forming strategic alliances with top energy companies, PHPGOV aims to leverage its strengths and consolidate resources to explore development opportunities and innovative models within the new energy sector.
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This strategic cooperation will encompass various areas including, but not limited to, technology research and development, market expansion, and industrial collaboration. PHPGOV and its partners will jointly conduct research and innovation in new energy technologies, pushing for breakthroughs and applications to enhance energy efficiency and utilization. Moreover, the parties will intensify market cooperation, collectively penetrate new energy markets, and expand sales channels for new energy products, thus promoting the healthy development of the new energy industry.
Additionally, PHPGOV will engage in industrial collaboration with leading energy companies to build a new energy industrial chain, fostering mutual growth within the industry. The partners will enhance collaboration in project investment, financial operations, and risk management to advance the realization of new energy projects and ensure the sustainable development and profitability of the new energy sector. 
For PHPGOV, this strategic partnership is of significant importance. It will not only elevate PHPGOV’s influence and competitiveness in the new energy sector but also accelerate its global expansion. Furthermore, collaboration with leading energy companies will provide PHPGOV with additional resources and support, fueling the platform’s growth and expansion.
<img decoding="async" src="https://blockchainwire.s3.amazonaws.com/Bitglobalnews/editor_image/a9206c3b-7654-434e-96d0-11f50dff9f9c.png" />
For the top energy companies, partnering with PHPGOV represents a crucial strategic decision. As a leader in the new energy index trading platform market, PHPGOV offers extensive industry experience and superior service quality, providing professional services and support to explore opportunities and business models in the new energy sector. 
In conclusion, the strategic partnership between PHPGOV and leading energy companies will inject new vitality into the global energy sector, promoting the healthy development and sustainable growth of the new energy industry. PHPGOV is poised to make a positive contribution to building a clean, sustainable energy future. 
PHPGOV Exchange Co., Ltd was established in October 2020 in the United States with the company number: 20201931985. The registered address is 1670 Broadway, Denver, CO 80202, United States.
 Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
<pre>CONTACT: Sophia Jones PHPGOV Sophia(at)phpgov.com</pre>
<img src='https://ml.globenewswire.com/media/YjQ5YWNjMDgtYmZmMi00OTRiLWFkZWItNTM5OWZiYmExNzRjLTUwMDEyNDYwNA==/tiny/PHPGOV.png' referrerpolicy='no-referrer-when-downgrade' /> Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Agrigate Global takes no editorial responsibility for the same.
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<item>
<title>SPZI: JP 3E Holdings, Inc. and Kerogen Resources LLC form Kerogen Resources II LLC to develop unconventional shale assets</title>
<link>https://agrigateglobal.com/press-release/spzi-jp-3e-holdings-inc-and-kerogen-resources-llc-form-kerogen-resources-ii-llc-to-develop-unconventional-shale-assets/</link>
<dc:creator><![CDATA[GlobeNewswire]]></dc:creator>
<pubDate>Fri, 10 May 2024 17:23:00 +0000</pubDate>
<category><![CDATA[Press Release]]></category>
<guid isPermaLink="false">https://www.globenewswire.com/news-release/2024/05/10/2879774/0/en/SPZI-JP-3E-Holdings-Inc-and-Kerogen-Resources-LLC-form-Kerogen-Resources-II-LLC-to-develop-unconventional-shale-assets.html2879774</guid>
<description><![CDATA[CLEARWATER, Fla., May 10, 2024 (GLOBE NEWSWIRE) — JP 3E Holdings, Inc., (“JP3E”) formerly known as Spooz, Inc. (OTC: SPZI), is pleased to announce the execution of a Memorandum of Understanding (“MOU”) with Kerogen Resources LLC to form Kerogen Resources II LLC for the purpose of developing unconventional onshore U.S. shale assets. JP3E will have […]]]></description>
<content:encoded><![CDATA[CLEARWATER, Fla., May 10, 2024 (GLOBE NEWSWIRE) — JP 3E Holdings, Inc., (“JP3E”) formerly known as Spooz, Inc. (OTC: SPZI), is pleased to announce the execution of a Memorandum of Understanding (“MOU”) with Kerogen Resources LLC to form Kerogen Resources II LLC for the purpose of developing unconventional onshore U.S. shale assets. JP3E will have majority ownership and provide funding for Kerogen Resources II. Kerogen Resources will operate and have a minority stake in Kerogen Resources II. This strategic partnership marks a significant expansion of JP3E Holdings’ footprint in the energy sector. Kerogen Resources, a private exploration and production company, brings to the partnership extensive experience and knowledge for development of conventional and unconventional oil and natural gas assets.
https://kerogenresources.com/
Mark Thompson, CEO/Chairman of Kerogen Resources, commented, “This partnership with JP 3E Holdings represents a pivotal moment in our company. Leveraging JP3E’s resources and network, we aim to enhance our operational footprint and expand our market reach, driving significant value for our stakeholders.”
John K. Park, CEO/Chairman of JP3E, stated, “Our partnership with Kerogen Resources highlights our commitment to diversify and strengthen our portfolio in the energy sector. We are excited about the synergies this partnership brings.”
JP3E plans to provide funding for Kerogen Resources II starting in the third quarter of 2024. 
About Spooz, Inc. (SPZI) now JP 3E Holdings, Inc.
Operating companies to supply the world with the vital needs of Eating, Energy, and Education (3E) which are essential needs for our everyday living and quality of life.
About Kerogen Resources LLC.
Kerogen Resources is a private exploration and production company with offices in Clearfield County, Pennsylvania. Our team has decades of industry-leading experience and is dedicated to creating value that makes a difference. Kerogen Resources has fostered a culture of a dedicated and technically advanced team of professionals who are hard-working and committed to excellence. Today, several of the company’s members are owners of mature-producing properties and a FERC pipeline system in Central Pennsylvania. Our goal is to return value to our partners through cost-efficient operations utilizing best-in-class environmental and safety procedures. Our strategy is to identify high-quality mature producing assets and employ operational improvements and effective techniques around enhanced recovery programs. Identification and evaluation of acquisition candidates are ongoing activities.
SAFE HARBOR ACT: Forward-looking statements are included within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company’s expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations or listing on an exchange – including words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will” and other similar expressions – are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond the Company’s control and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. No information in this press release should be construed in any manner whatsoever as an indication of the future performance of the Company’s revenues, financial condition or stock price.
Company Contact:
John K. Park, Chairman and CEO john.park@jp3eholdings.com Office: 732-241-0598 Websites: https://www.jp3e.com/ https://www.jp3eholdings.com/ Twitter: http://www.twitter.com/SpoozInc Facebook: http://www.Facebook.com/SpoozInc Email: info@jp3e.com
<img src='https://ml.globenewswire.com/media/N2UyYWQyZTYtOGQ2YS00MDZiLWJjNTctYmIwYmVmMTlhZjU2LTUwMDEyMTExMg==/tiny/JP-3E-Holdings-Inc-.png' referrerpolicy='no-referrer-when-downgrade' /> Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Agrigate Global takes no editorial responsibility for the same.
]]></content:encoded>
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<item>
<title>AEM United States Ag Tractor and Combine Report | May 10, 2024</title>
<link>https://agrigateglobal.com/press-release/aem-united-states-ag-tractor-and-combine-report-may-10-2024/</link>
<dc:creator><![CDATA[GlobeNewswire]]></dc:creator>
<pubDate>Fri, 10 May 2024 17:13:00 +0000</pubDate>
<category><![CDATA[Press Release]]></category>
<guid isPermaLink="false">https://www.globenewswire.com/news-release/2024/05/10/2879771/0/en/AEM-United-States-Ag-Tractor-and-Combine-Report-May-10-2024.html2879771</guid>
<description><![CDATA[Milwaukee, May 10, 2024 (GLOBE NEWSWIRE) — April YTD – April BeginningInventory 2024 2023 %Chg 2024 2023 %Chg Apr 2024 2WD Farm Tractors < 40 HP 17,084 18,068 -5.4 43,187 49,557 -12.9 93,394 40 < 100 […]]]></description>
<content:encoded><![CDATA[Milwaukee, May 10, 2024 (GLOBE NEWSWIRE) — 
<table style="border-collapse: collapse; width:100%; border-collapse:collapse ;">
<tr>
<td colspan="2"> </td>
<td colspan="4">April</td>
<td> </td>
<td colspan="3">YTD – April</td>
<td>Beginning Inventory</td>
<td> </td>
</tr>
<tr>
<td colspan="2"> </td>
<td>2024</td>
<td>2023</td>
<td colspan="2">%Chg</td>
<td> </td>
<td>2024</td>
<td>2023</td>
<td>%Chg</td>
<td>Apr 2024</td>
<td> </td>
</tr>
<tr>
<td colspan="2">2WD Farm Tractors</td>
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td> </td>
<td>< 40 HP</td>
<td>17,084</td>
<td>18,068</td>
<td colspan="2">-5.4</td>
<td> </td>
<td>43,187</td>
<td>49,557</td>
<td>-12.9</td>
<td>93,394</td>
<td> </td>
</tr>
<tr>
<td> </td>
<td>40 < 100 HP</td>
<td>4,986</td>
<td>5,177</td>
<td colspan="2">-3.7</td>
<td> </td>
<td>15,835</td>
<td>17,013</td>
<td>-6.9</td>
<td>38,518</td>
<td> </td>
</tr>
<tr>
<td> </td>
<td>100+ HP</td>
<td>2,640</td>
<td>2,462</td>
<td colspan="2">7.2</td>
<td> </td>
<td>7,615</td>
<td>7,654</td>
<td>-0.5</td>
<td>12,085</td>
<td> </td>
</tr>
<tr>
<td> </td>
<td>Total 2WD Farm Tractors</td>
<td>24,710</td>
<td>25,707</td>
<td colspan="2">-3.9</td>
<td> </td>
<td>66,637</td>
<td>74,224</td>
<td>-10.2</td>
<td>143,997</td>
<td> </td>
</tr>
<tr>
<td colspan="2">4WD Farm Tractors</td>
<td>495</td>
<td>399</td>
<td colspan="2">24.1</td>
<td> </td>
<td>1,320</td>
<td>1,295</td>
<td>1.9</td>
<td>761</td>
<td> </td>
</tr>
<tr>
<td colspan="2">Total Farm Tractors</td>
<td>25,205</td>
<td>26,106</td>
<td colspan="2">-3.5</td>
<td> </td>
<td>67,957</td>
<td>75,519</td>
<td>-10.0</td>
<td>144,758</td>
<td> </td>
</tr>
<tr>
<td colspan="2">Self-Prop Combines</td>
<td>601</td>
<td>563</td>
<td colspan="2">6.7</td>
<td> </td>
<td>1,804</td>
<td>2,074</td>
<td>-13.0</td>
<td>1,483</td>
<td> </td>
</tr>
<tr>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td colspan="12"> </td>
</tr>
</table>
The AEM Ag Tractor and Combine Report is provided monthly and is derived from AEM member companies through proprietary statistical reporting programs. The data is provided by AEM members and represents preliminary monthly retail sales of Ag equipment. Separate reports are available for the U.S., Canada and Russia. For more information, please visit: https://www.aem.org/market-share-statistics/us-ag-tractor-and-combine-reports. Attention Media: To speak with an AEM spokesperson about the data, please contact Sandra Mason at smason@aem.org.
Restricted Information from the Association of Equipment Manufacturers
<pre>CONTACT: Association of Equipment Manufacturers 414.272.0943 statisticsdepartment@aem.org </pre>
<img src='https://ml.globenewswire.com/media/MjZhMWQ0MzUtMWQ4Yi00YzZjLWI3ODktMDVkNzE0ZDVhZjE4LTExMzY5OTk=/tiny/Association-of-Equipment-Manuf.png' referrerpolicy='no-referrer-when-downgrade' /> Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Agrigate Global takes no editorial responsibility for the same.
]]></content:encoded>
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<title>USDOJ, USDA, and Mississippi Ag Commissioner Rally with American Family Farmers and Ranchers at Organization for Competitive Markets Annual Meeting</title>
<link>https://agrigateglobal.com/press-release/usdoj-usda-and-mississippi-ag-commissioner-rally-with-american-family-farmers-and-ranchers-at-organization-for-competitive-markets-annual-meeting/</link>
<dc:creator><![CDATA[GlobeNewswire]]></dc:creator>
<pubDate>Fri, 10 May 2024 14:31:00 +0000</pubDate>
<category><![CDATA[Press Release]]></category>
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<description><![CDATA[Patriotic Small Town Farmers Gather in the Deep South Mississippi Commissioner of Agriculture and Commerce Andy Gipson Commissioner Gipson as the keynote speaker at the Annual OCM Conference in Biloxi, MS | Photo: OCM Michael Kades, Fred Stokes, and Andy Green at Annual OCM Conference Deputy Assistant Attorney General at the USDOJ Michael Kades, OCM […]]]></description>
<content:encoded><![CDATA[Patriotic Small Town Farmers Gather in the Deep South
<div style="float:right;padding:0 0 15px 20px;margin:15px 0 20px 20px;width:300px">
Mississippi Commissioner of Agriculture and Commerce Andy Gipson
<figure> <img decoding="async" src="https://ml.globenewswire.com/Resource/Download/3bc56a77-d27f-4d10-88e4-6009006a5634" title="Mississippi Commissioner of Agriculture and Commerce Andy Gipson" alt="Commissioner Gipson as the keynote speaker at the Annual OCM Conference in Biloxi, MS | Photo: OCM" /><figcaption>Commissioner Gipson as the keynote speaker at the Annual OCM Conference in Biloxi, MS | Photo: OCM</figcaption></figure>
</div>
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Michael Kades, Fred Stokes, and Andy Green at Annual OCM Conference
<figure> <img decoding="async" src="https://ml.globenewswire.com/Resource/Download/dbc77318-98aa-4e15-96a0-86ba7d2a4761" title="Michael Kades, Fred Stokes, and Andy Green at Annual OCM Conference" alt="Deputy Assistant Attorney General at the USDOJ Michael Kades, OCM Founder Fred Stokes, and USDA Senior Advisor Andy Green | Photo: OCM" /><figcaption>Deputy Assistant Attorney General at the USDOJ Michael Kades, OCM Founder Fred Stokes, and USDA Senior Advisor Andy Green | Photo: OCM </figcaption></figure>
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BILOXI, MISSISSIPPI, May 10, 2024 (GLOBE NEWSWIRE) — Members of the Organization for Competitive Markets (OCM), met in the Southeastern U.S., for the group’s annual conference, general membership meeting, and election of officers. Members of OCM joined the conference from Alabama, Arkansas, Colorado, Florida, Georgia, Louisiana, Kansas, Missouri, Mississippi, Nebraska, Oklahoma, Pennsylvania, Virginia, West Virginia, South Dakota, and Wyoming. The group was blessed with a raft of speakers that included Mississippi Commissioner of Agriculture and Commerce Andy Gipson, Deputy Assistant Attorney General at the U.S. Dept. of Justice, Michael Kades, and Andy Green, Senior Advisor to the Secretary at the U.S. Dept of Agriculture. A full list of speakers can be found here.
One of the largest and most well attended annual conferences OCM has seen in more than a decade, the events and conference were planned and executed by OCM Founder Fred Stokes, a native Mississippian who resides in Portersville, and longtime office manager Pat Craycraft who drove two full days each way just to be there.
“The case has been made to bring small processors, feed lots, and additional infrastructure back to the Southeastern U.S. so that American food production is not centralized in the Mid-West and further consolidated with the four big packer monopoly than runs the American meat cartel,” said Fred Stokes, Founder of OCM. “We applaud and appreciate each of our speakers and the OCM membership for their steadfast dedication to bring fairness and regional voices from the Southeast into the fold.”
The conference was focused on expanding regional agriculture infrastructure, the continued work of OCM to create and improve competitive markets in the U.S., and how the USDOJ, USDA, and State Departments of Agriculture can address the decades-long monopolization of American agriculture by foreign interests like the Chinese-owned Smithfield and Brazil-based JBS. 
OCM’s general membership meeting saw the election of former Kansas State House Representative Tatum Lee-Hahn to replace Jerika Brumbeloe, reelection of Board Directors Marty Irby from Washington, D.C., and Taylor Haynes of Laramie, Wyoming, and as well as the reelection of the 2024 officers by unanimous consent with no opposition. Haynes will continue to serve as President, Mike Schultz of Brewster, Kansas as Vice-President, Irby as Secretary, and Jonathan Buttram of Albertville, Alabama as Treasurer.
During the annual meeting Fred Stokes, Tatum Lee-Hahn, and others discussed planning for the 2025 convention and it was decided a committee would be appointed by President Haynes to secure a location in the Southeastern U.S. again next year. The groups also received commentary from board member Dave Wright of Neligh, Nebraska, spoke about the continued concentration in the marketplace and Stokes spoke about the long-term damage the National Cattlemen’s Beef Association (NCBA) continues to cause to Southeastern markets and the need for Congress to recognize that NCBA only represents 3% of the cattle industry which is barely a fraction of the market and producers in the space.
“I’m honored to be selected to serve as President of OCM for a third term and appreciate the membership’s confidence in our leadership,” said Taylor Haynes, President of OCM, and Founder of Wyoming’s Independent Cattle Producers Organization. “We’ve made astounding strides over the past year and I’m especially encouraged by the outpour of support for our efforts and collaboration with Mississippi Agriculture Commissioner Andy Gipson, the U.S. Dept. of Justice, U.S. Dept. of Agriculture, and others who now see the agriculture model in the U.S. must be changed. I applaud the work dedicated to the organization by Marty Irby and congratulate him on receiving the Helmuth Award this year – OCM’s highest honor.”
“Many thanks to the members of OCM for giving me the opportunity to serve as Vice-President for another year,” said Mike Schultz, Vice-President at OCM and Founder of the Kansas Cattlemen’s Association. “The groundswell of support for OCM has put us in a stronger position than we’ve ever been, and industrial agriculture interests that have put countless American family farmers and ranchers out of business are on the run.”
“The groundswell of support OCM has seen in the past year from producers and elected officials across America is astounding and we’re making more of a difference in Washington, D.C. than I’ve ever seen before,” said Jonathan Buttram, Treasurer at OCM and President of the Alabama Contract Poultry Growers Association. “Our finances are in great shape and we have the opportunity to make greater change and have more impact than we ever have in the upcoming Farm Bill – I appreciate the membership’s confidence in reelecting me to serve another term.”
The annual Helmuth Award – OCM’s highest honor named in remembrance of OCM’s late co-founder John Helmuth was awarded to Board Director and Secretary Marty Irby.
“I am deeply humbled to receive the John Helmuth Award, have never been more surprised to have such a distinguished honor bestowed upon me, and truly believe that God is with us,” said Marty Irby, Secretary at OCM and President at Competitive Markets Action who is leading the groups’ lobbying efforts in Washington, D.C. “If the National Cattlemen’s Beef Association and Berman Co. believe their continued slanderous personal attacks against me are working for them, they should take note their actions only further fuel my desire to work harder and make dramatic change that will improve the lives of the American family farmers that keep this country fed. China’s front men and whipping boys will not prevail.”
The Organization for Competitive Markets (OCM) is a 501(c)(3) non-profit based in Lincoln, Nebraska. The foundation of the Organization for Competitive Markets is to fight for competitive markets in agriculture for farmers, ranchers and rural communities. True competition reduces the need for economic regulation. Our mission, and our duty, is to define and advocate the proper role of government in the agricultural economy as a regulator and enforcer of rules necessary for markets that are fair, honest, accessible and competitive for all citizens.
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<li> Mississippi Commissioner of Agriculture and Commerce Andy Gipson </li>
<li> Michael Kades, Fred Stokes, and Andy Green at Annual OCM Conference </li>
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<pre>CONTACT: Marty Irby Competitive Markets Action 202-821-5686 marty@competitivemarketsaction.org </pre>
<img src='https://ml.globenewswire.com/media/YjhmNWU0MWQtM2M2Yy00MjE4LWJhZGMtODJiMjlmMDQ3NzA4LTEyNzM0OTY=/tiny/Competitive-Markets-Action.png' referrerpolicy='no-referrer-when-downgrade' /> Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Agrigate Global takes no editorial responsibility for the same.
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<title>The Cold Chain: Keeping Food and Beverages Fresh from Farm to Fork</title>
<link>https://agrigateglobal.com/press-release/the-cold-chain-keeping-food-and-beverages-fresh-from-farm-to-fork/</link>
<dc:creator><![CDATA[GlobeNewswire]]></dc:creator>
<pubDate>Fri, 10 May 2024 13:00:00 +0000</pubDate>
<category><![CDATA[Press Release]]></category>
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<description><![CDATA[The global cold chain market size is projected to reach $372.0 billion by 2029 registering at a CAGR of 10.3%. Chicago, May 10, 2024 (GLOBE NEWSWIRE) — The cold chain refers to a temperature-controlled supply chain that is specifically designed to maintain the quality and safety of perishable products, such as food, pharmaceuticals, and certain […]]]></description>
<content:encoded><![CDATA[The global cold chain market size is projected to reach $372.0 billion by 2029 registering at a CAGR of 10.3%.
Chicago, May 10, 2024 (GLOBE NEWSWIRE) — The cold chain refers to a temperature-controlled supply chain that is specifically designed to maintain the quality and safety of perishable products, such as food, pharmaceuticals, and certain chemicals, throughout various stages of production, storage, transportation, and distribution. It involves the careful management of temperature conditions to prevent the degradation or spoilage of these sensitive items.
Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=811
Preserving Quality and Safety
The primary function of the cold chain is temperature control. By keeping perishables at specific temperatures, the growth of bacteria and mold is slowed down significantly. This not only prevents spoilage and extends shelf life but also minimizes the risk of foodborne illnesses. Different products require different temperature ranges. Meats and poultry thrive in freezing temperatures, while fruits and vegetables prefer slightly warmer environments. A well-managed cold chain ensures each item receives the perfect temperature for optimal quality and safety.
Benefits Beyond Freshness
The cold chain’s impact goes far beyond just preserving food. It fosters:
<ul>
<li>Year-round availability: Cold storage allows seasonal produce and other perishables to be enjoyed throughout the year, regardless of location or season. This increases consumer access to a wider variety of healthy and nutritious food options.
</li>
<li>Global food trade: Robust cold chain infrastructure facilitates the safe and efficient transportation of perishable food and beverages across vast distances. This enables global trade and ensures food security in regions with limited local production.
</li>
<li>Reduced food waste: Spoilage is a major contributor to food waste. The cold chain significantly reduces waste by maintaining freshness throughout the supply chain. This translates to economic benefits for businesses and environmental advantages by minimizing food’s environmental footprint.</li>
</ul>
Minimization of Food Waste
Effective cold chain management plays a pivotal role in reducing food waste throughout the supply chain. According to the Food and Agriculture Organization (FAO) of the United Nations, approximately one-third of all food produced for human consumption is lost or wasted globally each year. Temperature-controlled storage and transportation help mitigate food spoilage and extend the viability of perishable products. By preserving freshness and quality, the cold chain minimizes the need for premature disposal, thereby enhancing resource efficiency and sustainability in the food and beverage industry.
Compliance with Regulatory Standards
Stringent regulatory standards govern the handling, storage, and transportation of food and beverage products to ensure consumer safety and product quality. Entities operating within the industry must adhere to regulations stipulating temperature requirements and sanitation protocols. Failure to comply with these standards can result in costly penalties, product recalls, and reputational damage. The cold chain serves as a critical component in regulatory compliance by providing the necessary infrastructure and processes to maintain product integrity and meet legal obligations.
Facilitation of Global Trade
In an increasingly interconnected global economy, the cold chain plays a vital role in facilitating the international trade of perishable goods. Fresh produce, seafood, dairy products, and other temperature-sensitive commodities are transported across vast distances to reach consumers worldwide. The cold chain enables the safe and efficient movement of these goods across borders, ensuring they remain fresh and wholesome throughout their journey. By extending the reach of perishable products to diverse markets, the cold chain contributes to economic growth, trade expansion, and food security on a global scale.
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The Future of Cold Chain
The cold chain is constantly evolving. Advancements in technology are leading to:
<ul>
<li>Improved monitoring: Real-time temperature sensors and data loggers provide constant monitoring of product conditions during storage and transportation. This allows for quicker intervention if temperature fluctuations occur.</li>
<li>Smart packaging: Innovative packaging materials with temperature control capabilities can further extend shelf life and ensure product integrity.</li>
<li>Sustainable practices: The industry is focusing on eco-friendly refrigerants and energy-efficient storage facilities to minimize the environmental impact of cold chain operations.</li>
</ul>
In conclusion, the cold chain plays an indispensable role in the food and beverage industry. By ensuring food safety, preserving quality, and facilitating global trade, it contributes significantly to our access to fresh, delicious, and nutritious food. As technology continues to develop, the cold chain is poised to become even more efficient and sustainable, ensuring a brighter future for our food system.
Browse Related Reports:
Refrigerated Transport Market
<pre>CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com</pre>
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<title>MYR Group Inc. to Attend Stifel Cross Sector Insight Investor Conference in June</title>
<link>https://agrigateglobal.com/press-release/myr-group-inc-to-attend-stifel-cross-sector-insight-investor-conference-in-june/</link>
<dc:creator><![CDATA[GlobeNewswire]]></dc:creator>
<pubDate>Thu, 09 May 2024 20:00:00 +0000</pubDate>
<category><![CDATA[Press Release]]></category>
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<description><![CDATA[THORNTON, Colo., May 09, 2024 (GLOBE NEWSWIRE) — MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the Stifel 2024 Cross Sector Insight Conference. MYR Group’s Chief Executive Officer, Rick […]]]></description>
<content:encoded><![CDATA[THORNTON, Colo., May 09, 2024 (GLOBE NEWSWIRE) — MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the Stifel 2024 Cross Sector Insight Conference. MYR Group’s Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet with institutional investors in Boston on Wednesday, June 5, 2024. This event is only available to Stifel clients.
About MYR Group Inc. MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance and repair of commercial and industrial wiring generally for airports, hospitals, data centers, hotels, stadiums, commercial and industrial facilities, clean energy projects, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies and developers. For more information, visit myrgroup.com.
Contacts Kelly M. Huntington, Chief Financial Officer, MYR Group Inc., (847) 290-1891, investorinfo@myrgroup.com
David Gutierrez, Dresner Corporate Services, (312) 780-7204, dgutierrez@dresnerco.com
<img src='https://ml.globenewswire.com/media/YWZlMjM4YzEtMDYyMS00NWRiLTkwOWItYjE4ZjYzOTYxM2ZiLTEwMTg2Njk=/tiny/MYR-Group-Inc-.png' referrerpolicy='no-referrer-when-downgrade' /> Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Agrigate Global takes no editorial responsibility for the same.
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<title>Bunzl Canada Builds Sustainability Culture with “For Better” Initiative</title>
<link>https://agrigateglobal.com/press-release/bunzl-canada-builds-sustainability-culture-with-for-better-initiative/</link>
<dc:creator><![CDATA[GlobeNewswire]]></dc:creator>
<pubDate>Thu, 09 May 2024 13:04:00 +0000</pubDate>
<category><![CDATA[Press Release]]></category>
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<description><![CDATA[Inaugural branded sustainability campaign launched in conjunction with Earth Month 2024 Bunzl for Better Bunzl for Better Logo BURLINGTON, Ontario, May 09, 2024 (GLOBE NEWSWIRE) — Bunzl Canada today announced the results of the inaugural Bunzl for Better branded sustainability campaign, held throughout the month of April. The industry-leading distributor of essential operating supplies introduced […]]]></description>
<content:encoded><![CDATA[Inaugural branded sustainability campaign launched in conjunction with Earth Month 2024
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Bunzl for Better
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BURLINGTON, Ontario, May 09, 2024 (GLOBE NEWSWIRE) — Bunzl Canada today announced the results of the inaugural Bunzl for Better branded sustainability campaign, held throughout the month of April.
The industry-leading distributor of essential operating supplies introduced Bunzl for Better to formalize and expand its efforts to support and strengthen communities and the environment in Canada. It will encompass a range of activities and initiatives designed to positively contribute to environmental and community sustainability, including the company’s annual “Week of Giving”.
“Supporting our communities and reducing the impact we have on our planet is a key focus for our organization,” said Bunzl Canada President, John Howlett. “Bunzl for Better is a wonderful way to pull all of our initiatives together and engage our employees, our customers and our vendors in working together towards a better tomorrow.”
Bunzl for Better was launched in conjunction with Earth Month on April 1st and included three inaugural initiatives. The first was a month-long, employee-driven effort encouraging employees to live more sustainably through acts that reduce emissions, limit waste, and improve the quality of our environment. Employees submitted their sustainable acts, which ranged from planting gardens to organizing recycling drives, and were rewarded with Bunzl for Better t-shirts and personalized donations through OneTreePlanted.
The second initiative was an e-commerce promotion where Bunzl Canada donated to OneTreePlanted for each qualifying order.
The third was a clothing drive organized by the Canadian headquarters in Burlington, ON to divert textile waste from landfills while supporting local families in need.
Through these initiatives, Bunzl Canada planted over 2200 trees in Canadian forests to aid in vital reforestation efforts. The clothing drive diverted over 500 lbs. of textile waste from landfills and donated them to the Compassion Society of Halton – a local charity that connects people with clothing, food and community resources when they need them the most.
Bunzl for Better continues to build the culture of sustainability and community empowerment that’s so important to Bunzl and its valued customers. Jenny Lawson, Director of Human Resources said, “I see so many benefits to this initiative. Along with its value of sustainability, community empowerment and supporting our diversity and inclusion efforts, employees have an opportunity to work together towards a unified goal. This kind of engagement is key to our attraction and retention of top talent.”
For more information about Bunzl Canada and Bunzl for Better visit bunzlcanada.ca/sustainability.
About Bunzl Canada
Bunzl Canada Inc. (bunzlcanada.ca) provides the cleaning and hygiene products and equipment, food and retail packaging, safety products and industrial supplies which keep over 45,000 Canadian businesses running optimally, every day. The company brings its customers the advantage of global sourcing, product innovation and national scale combined with responsive local service and deep category expertise. Bunzl Canada Inc. is a division of Bunzl Distribution USA, LLC.
About Bunzl Distribution
Bunzl Distribution USA, LLC (bunzldistribution.com), headquartered in St. Louis, Mo., is the largest division of London-based Bunzl plc, an international distribution and outsourcing group. With more than 100 distribution centres throughout the U.S., Canada, Mexico and the Caribbean, Bunzl supplies a wide range of products to food processors, supermarkets, retailers, convenience stores and other users.
Media Inquiries
Margo Hunnisett Vice President, Marketing & Communications Bunzl Canada Inc. margo.hunnisett@bunzlcanada.ca (905) 630-3749
Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7d051d7e-1eae-45b1-aaf8-00997730f4f5 https://www.globenewswire.com/NewsRoom/AttachmentNg/26ee6ad2-015e-491f-9b28-58e407920c90

<img src='https://ml.globenewswire.com/media/YzgxYjc5ZjMtMTU1Yy00MTRhLTgwMmUtMjEyZjk0ZmE5MDdlLTEyNjc2NjM=/tiny/Bunzl-Canada-Inc.png' referrerpolicy='no-referrer-when-downgrade' /> Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Agrigate Global takes no editorial responsibility for the same.
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<title>CORRECTION: Long Island IHOP Restaurants Support America’s VetDogs in Celebration of Military Appreciation Month</title>
<link>https://agrigateglobal.com/press-release/correction-long-island-ihop-restaurants-support-americas-vetdogs-in-celebration-of-military-appreciation-month/</link>
<dc:creator><![CDATA[GlobeNewswire]]></dc:creator>
<pubDate>Wed, 08 May 2024 21:37:00 +0000</pubDate>
<category><![CDATA[Press Release]]></category>
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<description><![CDATA[All 19 Long Island IHOP Restaurants Selling Coupon Booklets to Help Raise Funds to Assist in Providing Service Dogs to Veterans, First Responders With Disabilities Long Island IHOP Restaurants Support America’s VetDogs in Celebration of Military Appreciation Month All 19 Long Island IHOP Restaurants Selling Coupon Booklets to Help Raise Funds To Assist in Providing […]]]></description>
<content:encoded><![CDATA[All 19 Long Island IHOP Restaurants Selling Coupon Booklets to Help Raise Funds to Assist in Providing Service Dogs to Veterans, First Responders With Disabilities
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Long Island IHOP Restaurants Support America’s VetDogs in Celebration of Military Appreciation Month
<figure> <img decoding="async" src="https://ml.globenewswire.com/Resource/Download/47568840-ac73-44a9-a39a-df04b31f61be" title="Long Island IHOP Restaurants Support America’s VetDogs in Celebration of Military Appreciation Month" alt="All 19 Long Island IHOP Restaurants Selling Coupon Booklets to Help Raise Funds To Assist in Providing Service Dogs to Veterans, First Responders With Disabilities" /><figcaption>All 19 Long Island IHOP Restaurants Selling Coupon Booklets to Help Raise Funds To Assist in Providing Service Dogs to Veterans, First Responders With Disabilities</figcaption></figure>
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Long Island IHOP Restaurants Support America’s VetDogs in Celebration of Military Appreciation Month
<figure> <img decoding="async" src="https://ml.globenewswire.com/Resource/Download/7380937a-53ad-4d53-ab93-7261e994c17a" title="Long Island IHOP Restaurants Support America’s VetDogs in Celebration of Military Appreciation Month" alt="All 19 Long Island IHOP Restaurants Selling Coupon Booklets to Help Raise Funds To Assist in Providing Service Dogs to Veterans, First Responders With Disabilities" /><figcaption>All 19 Long Island IHOP Restaurants Selling Coupon Booklets to Help Raise Funds To Assist in Providing Service Dogs to Veterans, First Responders With Disabilities</figcaption></figure>
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Smithtown, NY, May 08, 2024 (GLOBE NEWSWIRE) — Note to editors: this press release updates the headline and opening paragraph of the prior version to clarify that the Military Appreciation Month coupon booklet campaign is available exclusively at all 19 Long Island IHOP restaurants.
America’s VetDogs, a national nonprofit that provides service dogs to veterans, active-duty service members, and first responders with disabilities, announced a new partnership with the Long Island IHOP® restaurants to celebrate Military Appreciation Month.
Throughout the month of May, customers at all 19 Long Island IHOP restaurants, representing each IHOP franchisee in Nassau and Suffolk counties, will be able to buy a coupon booklet with a $40 value for only $5. The IHOP franchisees will donate 100 percent of the proceeds from the coupon booklet sales to America’s VetDogs to assist in providing more life-changing service and guide dogs to our nation’s heroes.
“We are grateful to IHOP, its Long Island franchisees, and IHOP restaurant staff and guests for joining us in supporting and raising awareness of the work we do to help America’s veterans, service members, and first responders,” said John Miller, president and CEO, America’s VetDogs. “As we commemorate Military Appreciation Month, we invite our Long Island community to visit their nearby IHOP restaurants, not only to savor delicious meals but also to unite in appreciation and awareness for the vital work we undertake together to honor our nation’s veterans, military, and first responders.”
America’s VetDogs is proud to be one of a select few accredited assistance dog schools in the United States that is now able to provide a veteran or first responder with a specially trained service dog in 12-months or less. With approximately 170,000 veterans and thousands of first responders living on Long Island, America’s VetDogs is dedicated to providing life-changing service dogs to our nation’s heroes with disabilities faster and at no charge to the individuals being served. America’s VetDogs offers essential services to our heroes, including dedicated service dogs for physical disabilities and mobility challenges, PTSD support, guide dogs for the visually impaired, hearing dogs for those with hearing loss, seizure response dogs, and animal-assisted therapy through facility dogs at military and VA healthcare facilities, promoting healing and well-being for our nation’s veterans and first responders.
About International House of Pancakes, LLC
For more than 65 years, IHOP has been a leader, innovator and expert in all things breakfast, lunch and dinner. The chain offers 65 different signature, fresh, made-to-order breakfast options, a wide selection of popular lunch and dinner items, including Ultimate Steakburgers, Hand Crafted Melts, Burritos & Bowls and more. IHOP restaurants offer guests an affordable, everyday dining experience with warm and friendly service. As of December 31, 2023, there are 1,814 IHOP restaurants around the world, including restaurants in all 50 states, two U.S. territories and 13 countries outside the United States. IHOP restaurants are franchised by affiliates of Pasadena, Calif.-based Dine Brands Global, Inc. (NYSE: DIN).
About America’s VetDogs
For more than 20 years, America’s VetDogs (www.VetDogs.org) has trained and placed guide and service dogs to provide independence, enhanced mobility, and companionship to veterans with disabilities from all eras. In 2015, America’s VetDogs opened its programs to first responders, including fire, police, and emergency medical personnel. America’s VetDogs is a 501(c)(3) not-for-profit organization founded by the Guide Dog Foundation and serves individuals from across the United States. America’s VetDogs relies on contributions from generous individuals, corporations, service clubs, and foundations to fund its mission to help those who have served our country live with dignity and independence. It costs more than $50,000 to breed, raise, train, and place one assistance dog, but America’s VetDogs provides its services completely free of charge to the individual. America’s VetDogs has been accredited by both the International Guide Dog Federation and Assistance Dogs International.
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<title>HighPeak Energy, Inc. Announces First Quarter 2024 Financial and Operating Results</title>
<link>https://agrigateglobal.com/press-release/highpeak-energy-inc-announces-first-quarter-2024-financial-and-operating-results/</link>
<dc:creator><![CDATA[GlobeNewswire]]></dc:creator>
<pubDate>Wed, 08 May 2024 20:02:00 +0000</pubDate>
<category><![CDATA[Press Release]]></category>
<guid isPermaLink="false">https://www.globenewswire.com/news-release/2024/05/08/2878170/0/en/HighPeak-Energy-Inc-Announces-First-Quarter-2024-Financial-and-Operating-Results.html2878170</guid>
<description><![CDATA[FORT WORTH, Texas, May 08, 2024 (GLOBE NEWSWIRE) — HighPeak Energy, Inc. (“HighPeak” or the “Company”) (NASDAQ: HPK) today announced financial and operating results for the quarter ended March 31, 2024. HighlightsFirst Quarter 2024 Sales volumes averaged 49,729 barrels of crude oil equivalent per day (“Boe/d”), consisting of 80% crude oil and 91% liquids, representing […]]]></description>
<content:encoded><![CDATA[FORT WORTH, Texas, May 08, 2024 (GLOBE NEWSWIRE) — HighPeak Energy, Inc. (“HighPeak” or the “Company”) (NASDAQ: HPK) today announced financial and operating results for the quarter ended March 31, 2024.
Highlights First Quarter 2024
<ul type="disc">
<li style="margin-top:6pt;">Sales volumes averaged 49,729 barrels of crude oil equivalent per day (“Boe/d”), consisting of 80% crude oil and 91% liquids, representing a 34% increase over first quarter 2023.</li>
<li style="margin-top:6pt; margin-bottom:6pt;">Lease operating expenses, excluding expense workovers, were reduced for the fourth consecutive quarter to $6.30 per Boe, representing a 26% decrease from the first quarter 2023.</li>
<li style="margin-top:6pt;">Net income was $6.4 million, or $0.05 per diluted share, and EBITDAX (a non-GAAP financial measure defined and reconciled below) was $233.3 million, or $1.63 per diluted share. Adjusted net income (a non-GAAP financial measure defined and reconciled below) was $48.3 million, or $0.37 per diluted share.</li>
<li style="margin-top:6pt; margin-bottom:6pt;">The Company generated free cash flow (a non-GAAP financial measure defined and reconciled below) of $48.0 million, an increase of 42% compared with the fourth quarter 2023.</li>
<li style="margin-top:6pt; margin-bottom:6pt;">The Company utilized its free cash flow to reduce debt by $30 million, increase its quarterly dividend by 60% to $0.04 per share and to implement a share buyback plan whereby it repurchased over 565,000 shares during the first quarter.
</li>
</ul>
Recent Events
<ul type="disc">
<li style="margin-bottom:6pt; text-align:justify;">On May 8, 2024, the Company’s Board of Directors declared a quarterly dividend of $0.04 per common share outstanding payable in June 2024.
</li>
</ul>
HighPeak Chairman and CEO, Jack Hightower, said, “We had a solid first quarter, delivering on our 2024 core values of operating with discipline, strengthening our balance sheet and maximizing value for our shareholders. HighPeak is in the optimal position – generating free cash flow from operations, possessing a valuable inventory comprising roughly 2,600 undrilled locations, of which over 1,100 have a breakeven of less than $50 per barrel, and being able to scale our drilling program as commodity prices dictate. This affords us a high degree of optionality as we continue to measure every strategic decision by the short and long-term return it provides our shareholders.”
First Quarter 2024 Operational Update 
HighPeak’s sales volumes during the first quarter of 2024 averaged 49,729 Boe/d, a 34% increase over first quarter of 2023. First quarter sales volumes consisted of approximately 80% crude oil and 91% liquids.
The Company averaged two drilling rigs and one frac crew during the first quarter, drilled 19 gross (17.8 net) operated horizontal wells and completed 12 gross (12.0 net) operated producing wells. At March 31, 2024, the Company had 21 gross (19.9 net) operated horizontal wells and 9 gross (0.6 net) non-operated horizontal wells in various stages of drilling and completion.
HighPeak President, Michael Hollis, commented, “Holding to our core values this quarter, HighPeak generated significant free cash flow and reduced overall debt, while keeping production flat quarter over quarter. We reduced our lifting costs per Boe approximately 16% from last quarter by optimizing chemical programs, utilizing our world-class infrastructure at scale and enhancing uptime. The team has been laser-focused on driving costs out of the system. By reducing opex and capex per foot, we continue to enhance our already strong corporate efficiency.”
First Quarter 2024 Financial Results 
HighPeak reported net income of $6.4 million for the first quarter of 2024, or $0.05 per diluted share, and adjusted net income of $48.3 million, or $0.37 per diluted share. The Company reported EBITDAX of $233.3 million, or $1.63 per diluted share.
First quarter average realized prices were $77.65 per barrel (“$/Bbl”) of crude oil, $24.94 per barrel of NGL and $1.33 per Mcf of natural gas, resulting in an overall realized price of $63.59 per Boe, or 83% of the weighted average of NYMEX crude oil prices, excluding the effects of derivatives. HighPeak’s cash costs for the third quarter were $10.91 per Boe, including lease operating expenses of $6.30 per Boe, workover expenses of $0.39 per Boe, production and ad valorem taxes of $3.18 per Boe and G&A expenses of $1.04 per Boe. The Company’s cash margin was $52.68 per Boe, or 83% of the overall realized price per Boe for the quarter, excluding the effects of derivatives.
HighPeak’s first quarter 2024 capital expenditures to drill, complete, equip, provide facilities and for infrastructure were $147.8 million. 
Dividends
During the first quarter of 2024, HighPeak’s Board of Directors approved a quarterly dividend of $0.04 per share, or $5.1 million in dividends paid to stockholders during the quarter. In addition, in May 2024, the Company’s Board of Directors declared a quarterly dividend of $0.04 per share, or approximately $5.1 million in dividends, to be paid on June 25, 2024 to stockholders of record on June 3, 2024. 
Conference Call
HighPeak will host a conference call and webcast on Thursday, May 9, 2024, at 10:00 a.m. Central Time for investors and analysts to discuss its results for the first quarter of 2024. Conference call participants may register for the call here. Access to the live audio-only webcast and replay of the earnings release conference call may be found here. A live broadcast of the earnings conference call will also be available on the HighPeak Energy website at www.highpeakenergy.com under the “Investors” section of the website. A replay will also be available on the website following the call.
When available, a copy of the Company’s earnings release, investor presentation and Quarterly Report on Form 10-Q may be found on its website at www.highpeakenergy.com.
Conference Participation HighPeak Energy will participate in-person in the upcoming RBC Capital Markets Global Energy, Power & Infrastructure Conference in New York on June 4th-5th, 2024.
About HighPeak Energy, Inc.
HighPeak Energy, Inc. is a publicly traded independent crude oil and natural gas company, headquartered in Fort Worth, Texas, focused on the acquisition, development, exploration and exploitation of unconventional crude oil and natural gas reserves in the Midland Basin in West Texas. For more information, please visit our website at www.highpeakenergy.com. Cautionary Note Regarding Forward-Looking Statements
The information in this press release contains forward-looking statements that involve risks and uncertainties. When used in this document, the words “believes,” “plans,” “expects,” “anticipates,” “forecasts,” “intends,” “continue,” “may,” “will,” “could,” “should,” “future,” “potential,” “estimate” or the negative of such terms and similar expressions as they relate to HighPeak Energy, Inc. (“HighPeak Energy,” the “Company” or the “Successor”) are intended to identify forward-looking statements, which are generally not historical in nature. The forward-looking statements are based on the Company’s current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. Although the Company believes that the expectations and assumptions reflected in the forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond the Company’s control. For example, the Company’s review of strategic alternatives may not result in a sale of the Company, a recommendation that a transaction occur or result in a completed transaction, and any transaction that occurs may not increase shareholder value, in each case as a result of such risks and uncertainties.
These risks and uncertainties include, among other things, the results of the strategic review being undertaken by the Company’s Board and the interest of prospective counterparties, the Company’s ability to realize the results contemplated by its 2024 guidance, volatility of commodity prices, product supply and demand, the impact of a widespread outbreak of an illness, such as the coronavirus disease pandemic, on global and U.S. economic activity, competition, the ability to obtain environmental and other permits and the timing thereof, other government regulation or action, the ability to obtain approvals from third parties and negotiate agreements with third parties on mutually acceptable terms, litigation, the costs and results of drilling and operations, availability of equipment, services, resources and personnel required to perform the Company’s drilling and operating activities, access to and availability of transportation, processing, fractionation, refining and storage facilities, HighPeak Energy’s ability to replace reserves, implement its business plans or complete its development activities as scheduled, access to and cost of capital, the financial strength of counterparties to any credit facility and derivative contracts entered into by HighPeak Energy, if any, and purchasers of HighPeak Energy’s oil, natural gas liquids and natural gas production, uncertainties about estimates of reserves, identification of drilling locations and the ability to add proved reserves in the future, the assumptions underlying forecasts, including forecasts of production, expenses, cash flow from sales of oil and gas and tax rates, quality of technical data, environmental and weather risks, including the possible impacts of climate change, cybersecurity risks and acts of war or terrorism. These and other risks are described in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K and other filings with the SEC. The Company undertakes no duty to publicly update these statements except as required by law.
Reserve engineering is a process of estimating underground accumulations of hydrocarbons that cannot be measured in an exact way. The accuracy of any reserve estimate depends on the quality of available data, the interpretation of such data and price and cost assumptions made by reserve engineers. Reserves estimates included herein may not be indicative of the level of reserves or PV-10 value of oil and natural gas production in the future. In addition, the results of drilling, testing and production activities may justify revisions of estimates that were made previously. If significant, such revisions could impact HighPeak’s strategy and change the schedule of any further production and development drilling. Accordingly, reserve estimates may differ significantly from the quantities of oil and natural gas that are ultimately recovered.
Use of Projections
The financial, operational, industry and market projections, estimates and targets in this press release and in the Company’s guidance (including production, operating expenses and capital expenditures in future periods) are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond the Company’s control. The assumptions and estimates underlying the projected, expected or target results are inherently uncertain and are subject to a wide variety of significant business, economic, regulatory and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the financial, operational, industry and market projections, estimates and targets, including assumptions, risks and uncertainties described in “Cautionary Note Regarding Forward-Looking Statements” above. These projections are speculative by their nature and, accordingly, are subject to significant risk of not being actually realized by the Company. Projected results of the Company for 2024 are particularly speculative and subject to change. Actual results may vary materially from the current projections, including for reasons beyond the Company’s control. The projections are based on current expectations and available information as of the date of this release. The Company undertakes no duty to publicly update these projections except as required by law.
Drilling Locations
The Company has estimated its drilling locations based on well spacing assumptions and upon the evaluation of its drilling results and those of other operators in its area, combined with its interpretation of available geologic and engineering data. The drilling locations actually drilled on the Company’s properties will depend on the availability of capital, regulatory approvals, commodity prices, costs, actual drilling results and other factors. Any drilling activities conducted on these identified locations may not be successful and may not result in additional proved reserves. Further, to the extent the drilling locations are associated with acreage that expires, the Company would lose its right to develop the related locations.


<table style="border-collapse: collapse; width:100%; border-collapse:collapse ;">
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">HighPeak Energy, Inc. Unaudited Condensed Consolidated Balance Sheet Data (In thousands) </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="3" style="border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">March 31, 2024</td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td colspan="3" style="border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">December 31, 2023</td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Current assets:</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Cash and cash equivalents</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">173,380</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">194,515</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Accounts receivable</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">109,005</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">94,589</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Derivative instruments</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">11,179</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">31,480</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Inventory</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,772</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">7,254</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Prepaid expenses</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,639</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">995</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Total current assets</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">298,975</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">328,833</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Crude oil and natural gas properties, using the successful efforts method of accounting:</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Proved properties</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3,487,622</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3,338,107</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Unproved properties</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">72,997</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">72,715</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Accumulated depletion, depreciation and amortization</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(814,961</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(684,179</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Total crude oil and natural gas properties, net</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,745,658</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,726,643</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Other property and equipment, net</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3,563</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3,572</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Derivative instruments</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,380</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">16,059</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Other noncurrent assets</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">5,116</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">5,684</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> Total assets </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3,054,692</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3,080,791</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Current liabilities:</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Current portion of long-term debt, net</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">120,000</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">120,000</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Accrued capital expenditures</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">49,232</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">39,231</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Accounts payable – trade</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">47,273</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">63,583</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Revenues and royalties payable</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">29,344</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">29,724</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Other accrued liabilities</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">19,580</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">19,613</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Derivative instruments</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">16,440</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">13,054</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Advances from joint interest owners</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">4,845</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">262</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Accrued interest</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">847</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,398</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Operating leases</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">400</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">528</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Total current liabilities</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">287,961</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">287,393</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Noncurrent liabilities:</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Long-term debt, net</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,004,798</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,030,299</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Deferred income taxes</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">198,757</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">197,068</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Asset retirement obligations</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">13,685</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">13,245</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Derivatives</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,054</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">65</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Commitments and contingencies</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Stockholders’ equity</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Common stock</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">13</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">13</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Additional paid-in capital</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,184,371</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,189,424</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Retained earnings</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">364,053</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">363,284</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; ">Total stockholders’ equity</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,548,437</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,552,721</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> Total liabilities and stockholders’ equity </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td>
<td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3,054,692</td>
<td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td>
<td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3,080,791</td>
<td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
</table>

<table style="border-collapse: collapse; width:100%; border-collapse:collapse ;">
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">HighPeak Energy, Inc.</td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">Unaudited Condensed Consolidated Statements of Operations</td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">(in thousands, except per share data)</td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td colspan="9" style="vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="7" style="border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">Three Months Ended March 31,</td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">2024</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td colspan="2" style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">2023</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Operating revenues:</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Crude oil sales</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">282,369</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">215,696</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">NGL and natural gas sales</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">5,395</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">8,098</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; ">Total operating revenues</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">287,764</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">223,794</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Operating costs and expenses:</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Crude oil and natural gas production</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">30,271</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">32,942</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Production and ad valorem taxes</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">14,402</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">12,297</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Exploration and abandonments</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">498</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,164</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Depletion, depreciation and amortization</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">130,850</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">81,131</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Accretion of discount</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">239</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">118</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">General and administrative</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">4,685</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,502</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Stock-based compensation</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3,798</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">4,054</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; ">Total operating costs and expenses</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">184,743</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">135,208</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Other expense</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">— </td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Income from operations</td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">103,020</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">88,586</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Interest and other income</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,392</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">30</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Interest expense</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(43,634</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(26,972</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Derivative gain (loss), net</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(53,043</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3,120</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Income before income taxes</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">8,735</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">64,764</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Income tax expense</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,297</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">14,507</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Net income</td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">6,438</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">50,257</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Earnings per share:</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Basic net income</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.05</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.41</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Diluted net income</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.05</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.39</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Weighted average shares outstanding:</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Basic</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">125,696</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">111,055</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Diluted</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">129,641</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">117,765</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Dividends declared per share</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.040</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.025</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
</table>
 
<table style="border-collapse: collapse; width:100%; border-collapse:collapse ;">
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">HighPeak Energy, Inc.</td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">Unaudited Condensed Consolidated Statements of Cash Flows</td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">(in thousands)</td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="7" style="border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">Three Months Ended March 31,</td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">2024</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td colspan="2" style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">2023</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> CASH FLOWS FROM OPERATING ACTIVITIES: </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Net income</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">6,438</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">50,257</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Adjustments to reconcile net income to net cash provided by operations:</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; ">Provision for deferred income taxes</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,688</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">14,507</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; ">Loss (gain) on derivative instruments</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">53,043</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(3,120</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; ">Cash paid on settlement of derivative instruments</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(5,148</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(2,194</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; ">Amortization of debt issuance costs</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,053</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,668</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; ">Amortization of original issue discounts on long-term debt</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,453</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">4,290</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; ">Stock-based compensation expense</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3,798</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">4,054</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; ">Accretion expense</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">239</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">118</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; ">Depletion, depreciation and amortization expense</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">130,850</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">81,131</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; ">Exploration and abandonment expense</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">274</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,950</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 20.0px; vertical-align: bottom ; ">Changes in operating assets and liabilities:</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Accounts receivable</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(14,414</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">15,617</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Prepaid expenses, inventory and other assets</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(4,722</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(2,567</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Accounts payable, accrued liabilities and other current liabilities</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(5,113</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">23,295</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; ">Net cash provided by operating activities</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">171,439</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">190,006</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> CASH FLOWS FROM INVESTING ACTIVITIES: </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Additions to crude oil and natural gas properties</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(147,698</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(379,103</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Changes in working capital associated with crude oil and natural gas property additions</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,705</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">65,062</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Acquisitions of crude oil and natural gas properties</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(2,171</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(5,463</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Other property additions</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(59</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(18</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; ">Net cash used in investing activities</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(148,223</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(319,522</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> CASH FLOWS FROM FINANCING ACTIVITIES: </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Repayments under Term Loan Credit Agreement</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(30,000</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">—</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Repurchased shares under buyback program</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(8,764</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">—</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Dividends paid</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(5,050</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(2,776</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Dividend equivalents paid</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(530</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(282</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Debt issuance costs</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(7</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(544</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Borrowings under Prior Credit Agreement</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">—</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">150,000</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Proceeds from exercises of stock options</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">—</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">148</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; ">Proceeds from exercises of warrants</td>
<td style="vertical-align: middle; text-align: left; padding-left: 25.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">—</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; ">Net cash provided by financing activities</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(44,351</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">146,548</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; ">Net decrease in cash and cash equivalents</td>
<td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(21,135</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">17,032</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Cash and cash equivalents, beginning of period</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">194,515</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">30,504</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Cash and cash equivalents, end of period</td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">173,380</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">47,536</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
</table>

<table style="border-collapse: collapse; width:100%; border-collapse:collapse ;">
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">HighPeak Energy, Inc. </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> Unaudited Summary Operating Highlights </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="7" style="border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; "> Three Months Ended March 31, </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">2024</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td colspan="2" style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">2023</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> Average Daily Sales Volumes: </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Crude oil (Bbls)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">39,959</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">31,507</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">NGLs (Bbls)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">5,147</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3,280</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Natural gas (Mcf)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">27,733</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">14,611</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Total (Boe)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">49,729</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">37,222</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> Average Realized Prices (excluding effects of derivatives): </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Crude oil per Bbl</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">77.65</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">76.07</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">NGL per Bbl</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">24.94</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">27.04</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Natural gas per Mcf</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1.33</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2.21</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Total per Boe</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">63.59</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">66.80</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> Margin Data ($ per Boe): </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Average price</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">63.59</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">66.80</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Lease operating expenses</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(6.30</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(8.57</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Expense workovers</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(0.39</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(1.26</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Production and ad valorem taxes</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(3.18</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(3.67</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">53.72</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">53.30</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
</table>

<table style="border-collapse: collapse; width:100%; border-collapse:collapse ;">
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">HighPeak Energy, Inc. </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> Unaudited Earnings Per Share Details </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="7" style="border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; "> Three Months Ended March 31, </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">2024</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td colspan="2" style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">2023</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Net income as reported</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">6,438</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">50,257</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Participating basic earnings</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(605</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(4,638</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Basic earnings attributable to common shareholders</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">5,833</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">45,619</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Reallocation of participating earnings</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">75</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Diluted net income attributable to common shareholders</td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">5,834</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">45,694</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Basic weighted average shares outstanding</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">125,696</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">111,055</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Dilutive warrants and unvested stock options</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,786</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">4,588</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Dilutive unvested restricted stock</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,159</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,122</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Diluted weighted average shares outstanding</td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">129,641</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">117,765</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Net income per share attributable to common shareholders:</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Basic</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.05</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.41</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Diluted</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.05</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.39</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
</table>

<table style="border-collapse: collapse; width:100%; border-collapse:collapse ;">
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">HighPeak Energy, Inc.</td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">Unaudited Reconciliation of Net Income to EBITDAX, Discretionary Cash Flow and Net Cash Provided by Operations</td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">(in thousands)</td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td colspan="9" style="vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="7" style="border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">Three Months Ended March 31,</td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">2024</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td colspan="2" style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">2023</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Net income</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">6,438</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">50,257</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Interest expense</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">43,634</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">26,972</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Interest and other income</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(2,392</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(30</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Income tax expense</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,297</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">14,507</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Depletion, depreciation and amortization</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">130,850</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">81,131</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Accretion of discount</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">239</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">118</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Exploration and abandonment expense</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">498</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,164</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Stock based compensation</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3,798</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">4,054</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Derivative related noncash activity</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">47,895</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(5,314</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Other expense</td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">— </td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">EBITDAX</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">233,258</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">173,859</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Cash interest expense</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(39,128</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(20,014</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Other (a)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">1,558</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(184</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Discretionary cash flow</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">195,688</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">153,661</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Changes in operating assets and liabilities</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(24,249</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">36,345</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; ">Net cash provided by operating activities</td>
<td style="vertical-align: middle; text-align: left; padding-left: 10.0px; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">171,439</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">190,006</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td colspan="9" style="vertical-align: bottom ; ">(a) includes interest and other income net of current tax expense, other expense and operating portion of exploration and abandonment expenses.</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
</table>

<table style="border-collapse: collapse; width:100%; border-collapse:collapse ;">
<tr>
<td colspan="18" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">HighPeak Energy, Inc.</td>
<td colspan="2" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td colspan="18" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">Unaudited Reconciliation of Net Income to Adjusted Net Income</td>
<td colspan="2" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td colspan="18" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">(in thousands, except per share data)</td>
<td colspan="2" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td colspan="7" style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td colspan="8" style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td colspan="7" style="border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">Three Months Ended March 31, 2024</td>
<td colspan="2" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td> </td>
</tr>
<tr>
<td colspan="8" style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td colspan="3" style="border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">Amounts</td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td colspan="3" style="border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">Amounts per Diluted Share</td>
<td colspan="2" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td> </td>
</tr>
<tr>
<td colspan="8" style="vertical-align: bottom ; ">Net income</td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">6,438</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.05</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td> </td>
</tr>
<tr>
<td colspan="8" style="vertical-align: bottom ; ">Derivative loss, net</td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">53,043</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.41</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td> </td>
</tr>
<tr>
<td colspan="8" style="vertical-align: bottom ; ">Stock-based compensation</td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3,798</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.03</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td> </td>
</tr>
<tr>
<td colspan="8" style="vertical-align: bottom ; ">Income tax adjustment for above items *</td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(14,947</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(0.12</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td> </td>
</tr>
<tr>
<td colspan="8" style="vertical-align: bottom ; ">Adjusted net income</td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">48,332</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">0.37</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td> </td>
</tr>
<tr>
<td style="max-width:31%; width:31%; min-width:31%;;vertical-align: bottom ; "> </td>
<td style="max-width:16%; width:16%; min-width:16%;;vertical-align: bottom ; "> </td>
<td style="max-width:9%; width:9%; min-width:9%;;vertical-align: bottom ; "> </td>
<td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; "> </td>
<td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; "> </td>
<td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; "> </td>
<td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; "> </td>
<td colspan="2" style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; "> </td>
<td style="max-width:1%; width:1%; min-width:1%;"> </td>
<td style="max-width:2%; width:2%; min-width:2%;"> </td>
<td colspan="2" style="max-width:15%; width:15%; min-width:15%;"> </td>
<td style="max-width:1%; width:1%; min-width:1%;"> </td>
<td style="max-width:2%; width:2%; min-width:2%;"> </td>
<td colspan="2" style="max-width:15%; width:15%; min-width:15%;"> </td>
<td style="max-width:1%; width:1%; min-width:1%;"> </td>
<td style="max-width:1%; width:1%; min-width:1%;"> </td>
<td style="max-width:1%; width:1%; min-width:1%;"> </td>
</tr>
<tr>
<td colspan="4" style="vertical-align: bottom ; ">* Assuming 26.3% effective tax rate consistent with overall tax provision</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
</table>

<table style="border-collapse: collapse; width:100%; border-collapse:collapse ;">
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">HighPeak Energy, Inc. </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> Unaudited Cash Margin Reconciliation </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td colspan="9" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> (in thousands, except per Boe data) </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="7" style="border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; "> Three Months Ended March 31, </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">2024</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td colspan="2" style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">2023</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Crude oil, NGL and natural gas sales revenue</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">287,764</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">223,794</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Less: Lease operating expenses</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(28,533</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(28,720</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Less: Workover expenses</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(1,738</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(4,222</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Less: Production and ad valorem taxes</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(14,402</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(12,297</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Less: General and administrative expenses</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(4,685</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(2,502</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Cash Margin</td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; ">$</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">238,406</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; ">$</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">176,053</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Divide by: Sales volumes (MBoe)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">4,525.3</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3,350.0</td>
<td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Cash Margin per Boe, excluding effects of derivatives</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">52.68</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">52.55</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Cash Margin</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">238,406</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">176,053</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">General and administrative expenses</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">4,685</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">2,502</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Divide by: Sales volumes (MBoe)</td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">4,525.3</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">3,350.0</td>
<td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Cash Operating Margin per Boe, excluding effects of derivatives</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">53.72</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; ">$</td>
<td style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">53.30</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
</tr>
</table>

<table style="border-collapse: collapse; width:100%; border-collapse:collapse ;">
<tr>
<td colspan="7" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; ">
HighPeak Energy, Inc.</td>
<td> </td>
</tr>
<tr>
<td colspan="7" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> Unaudited Free Cash Flow Reconciliation</td>
<td> </td>
</tr>
<tr>
<td colspan="7" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> (in thousands)</td>
<td> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="3" style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="4" style="border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">Three Months Ended March 31, 2024</td>
<td colspan="2" style="text-align: center ; vertical-align: middle; vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="3" style="vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="max-width:84%; width:84%; min-width:84%;;vertical-align: bottom ; ">Net cash provided by operating activities</td>
<td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; "> </td>
<td style="max-width:2%; width:2%; min-width:2%;;vertical-align: bottom ; ">$</td>
<td colspan="2" style="max-width:11%; width:11%; min-width:11%;;padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">171,439</td>
<td style="max-width:1%; width:1%; min-width:1%;;padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td colspan="2" style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Changes in operating assets and liabilities</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">24,249</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Less: Costs incurred excluding acquisitions</td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="2" style="padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">(147,698</td>
<td style="padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; ">)</td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; ">Free cash flow</td>
<td style="vertical-align: bottom ; "> </td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; vertical-align: bottom ; "> $</td>
<td colspan="2" style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ; vertical-align: middle; vertical-align: bottom ; ">47,990</td>
<td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
</tr>
<tr>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td style="vertical-align: bottom ; "> </td>
<td colspan="3" style="text-align: right ; vertical-align: middle; vertical-align: bottom ; "> </td>
<td colspan="2" style="vertical-align: bottom ; "> </td>
</tr>
</table>
Investor Contact:
Ryan Hightower Vice President, Business Development 817.850.9204 rhightower@highpeakenergy.com
Source: HighPeak Energy, Inc.
 
<img src='https://ml.globenewswire.com/media/YzdmZDNkODQtYjlkZi00NzUxLTliNWMtMzdlMTc4NmI5NjdjLTEyMTM2NjU=/tiny/HighPeak-Energy-Inc-.png' referrerpolicy='no-referrer-when-downgrade' /> Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Agrigate Global takes no editorial responsibility for the same.
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