Fort Worth-based HighPeak Energy said Oct. 28 its recently mobilized third rig in Midland Basin will not change capital expenditure guidance for 2021. The company’s production for second half of October will average about 15,000 boed compared with 2021Q3 production of 8,168 boed. HighPeak said it expects wells drilled with its second rig to begin contributing meaningful production later this year and early next year. HighPeak said the third rig in Howard County will further delineate its Signal Peak area and accelerate development drilling in Flat Top. Jack Hightower, CEO, said, “2022 will be a year of tremendous growth for HighPeak.”