Fort Worth-based HighPeak Energy, Inc., said Aug. 24 it plans to increase production by yearend by bringing 15 horizontal wells online and drilling an additional six wells. High Peak Energy, Inc., is the company formed by the closing of Pure Acquisition Corp.’s acquisition of oil and gas assets of HighPeak Energy LP and HighPeak Energy II LP. The business combination includes a contiguous position of about 51,000 net acres primarily in Howard County in northeast Midland Basin. Current net production is 2,600 boed from legacy horizontal wells recently returned to production after curtailment. Production is expected to increase to 10,000-to-12,000 boed in 2021Q1.
Michael L. Hollis, president, said, “We expect to begin increasing our production throughout the remainder of the year and to begin with a one-rig program.”