Fort Worth-based HighPeak Energy recently amended its 2022 plans to account for recent acquisitions in Midland Basin. High Peak said 2022 total capital expenditures will be $750 million to $800 million; prior guidance was $610 million to $660 million after $236 million in 2021. HighPeak added a rig in October and another in January, and it plans to keep its 4 rigs active throughout 2022 with 2 completion crews to turn 80-to-110 operated wells to sales. HighPeak brought online 25 operated wells in 2021. Production is forecast to average 27,000 to 32,500 boed in 2022 and exit the year at 40,000 to 45,000 boed. Prior guidance was 26,000 to 31,000 boed for the year with an exit rate of 36,000 to 42,000 boed.
Michael Hollis, president, said, “The series of highly accretive acquisitions that HighPeak entered into this quarter not only add production and future drilling locations, but also complement our already robust infrastructure.” HighPeak announced in February acquisition of assets on 9,500 net acres (2,500 boed) in Borden and Howard counties with 40 additional horizontal drilling locations.