Core Insights - HighPeak Energy, Inc. reported its financial and operational results for the second quarter of 2025, highlighting a net income of $26.2 million and EBITDAX of $156.0 million, reflecting a stable performance despite a challenging market environment [1][9]. Financial Performance - The company achieved net income of $26.2 million, or $0.19 per diluted share, for the second quarter of 2025, compared to $29.7 million in the same period last year [9][38]. - EBITDAX for the quarter was $156.0 million, or $1.12 per diluted share, down from $215.8 million year-over-year [9][40]. - Total operating revenues were $200.4 million, a decrease from $275.3 million in the prior year [32]. - Average realized prices were $63.74 per barrel of crude oil, $20.34 per barrel of NGL, and $1.50 per Mcf of natural gas, leading to an overall realized price of $45.27 per Boe [10][35]. Operational Highlights - Average sales volumes for the second quarter were 48.6 MBoe/d, remaining flat compared to the same period last year [6][35]. - The company operated one drilling rig and one frac crew, drilling 13 gross horizontal wells and turning in line 14 gross producing wells [7][8]. - Capital expenditures for the quarter totaled $125.4 million, a reduction of over 30% compared to the first quarter of 2025 [11]. Debt and Liquidity Management - HighPeak amended and extended its Term Loan and Senior Credit Facility, increasing borrowings to $1.2 billion and extending maturity dates to September 2028 [5][8]. - The amendment allows for deferred mandatory amortization payments of $30 million per quarter until September 2026, enhancing liquidity and flexibility [5][8]. - The company has hedged a significant portion of its production for the next 18 months to mitigate downside risk from potential commodity price declines [5][12]. Dividend Declaration - The Board of Directors declared a quarterly dividend of $0.04 per share, amounting to approximately $5.0 million, payable in September 2025 [16].