HighPeak Energy, Inc. Announces Amendments to its Term Loan Credit Agreement and Senior Credit Facility Agreement

Core Viewpoint - HighPeak Energy, Inc. has announced amendments to its Term Loan Credit Agreement and Senior Credit Facility Agreement, effective August 1, 2025, which include extending maturity dates and increasing borrowings to enhance liquidity [1][4]. Financial Agreements - The maturity dates for both the Term Loan Credit Agreement and the Senior Credit Facility Agreement have been extended by two years to September 30, 2028 [4]. - Borrowings under the Term Loan Credit Agreement have been increased to $1.2 billion, providing additional liquidity [4]. - Mandatory amortization payments of $30 million per quarter have been deferred until September 30, 2026 [4]. - The total cost associated with these amendments was significantly lower than other financing options [4]. Hedging Update - HighPeak has entered into additional crude oil derivative contracts through March 31, 2027, with various types of contracts including swaps and collars [3][6]. - The company has outlined specific crude oil derivative instruments with weighted average prices, including a swap for 3,000 barrels at $75.85 per barrel for July to September 2025 [3]. - Natural gas derivative contracts have also been established, with a swap for 30,000 MMBtu at $4.43 per MMBtu for July to September 2025 [6]. Company Overview - HighPeak Energy, Inc. is an independent crude oil and natural gas company based in Fort Worth, Texas, focusing on the acquisition, development, exploration, and exploitation of unconventional reserves in the Midland Basin [8].