HighPeak Energy Midland Basin — oil & ngl project

Consolidated upstream portfolio of HighPeak Energy, Inc., a Delaware-incorporated (2019) independent E&P focused on the crude-oil-rich northeastern Midland Basin of the Permian, primarily in Howard and Borden Counties (and to a lesser extent Scurry and Mitchell Counties), Texas. Operations are organized into two largely contiguous core areas, Flat Top (north) and Signal Peak (south), developed with modern horizontal drilling and high-intensity hydraulic fracturing of the Lower Spraberry and Wolfcamp A (and other) formations. Total net proved reserves at year-end 2025 were 173,891 MBOE (114,198 MBbl oil, 30,444 MBbl NGL, 175,494 MMcf gas), 83% crude oil and NGL and 55% developed. PV-10 (pre-tax) was US$2,057.0 million and the standardized measure US$1,912.8 million. 2025 net sales were 17,628 MBOE. Estimated future development cost for PUDs is approximately US$1.3 billion over five years.