Fort Worth-based HighPeak Energy, Midland Basin pure play, said its 2022 plans include a four-rig program to bring 80 to 100 wells online in Howard County (60 to 75 percent in Flat Top area). The company expects to spend $610 million to $660 million for drilling, completions, equipping and facilities in its 2022 overall capex plan of $645 million to $700 million. HighPeak forecasts average 2022 production of 26,000 boed to 31,000 boed (exit rate of 36,000 boed to 42,000 boed). Enverus said HighPeak’s 2022 plans “are a dramatic increase from 2021 ($210 million to $225 million on drilling, completions, equipping and facilities).
Jack Hightower, CEO, recently said, “Our production growth rate continues to increase significantly based on the strong performance of our wells… We now plan to introduce a fourth rig.”