--- title: "HighPeak Energy | 8-K: FY2026 Q1 Revenue: USD 215.89 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285434016.md" datetime: "2026-05-06T20:34:02.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285434016.md) - [en](https://longbridge.com/en/news/285434016.md) - [zh-HK](https://longbridge.com/zh-HK/news/285434016.md) --- # HighPeak Energy | 8-K: FY2026 Q1 Revenue: USD 215.89 M Revenue: As of FY2026 Q1, the actual value is USD 215.89 M. EPS: As of FY2026 Q1, the actual value is USD -1.02. EBIT: As of FY2026 Q1, the actual value is USD 70.11 M. #### Financing Activities HighPeak Energy, Inc. established an “at the market” (ATM) program on May 6, 2026, allowing the company to offer and sell shares of common stock with an aggregate offering price of up to $150 million . A commission of up to 3% of gross proceeds will be paid to the Lead Agent . The net proceeds are intended for general corporate purposes, including potentially paying or refinancing outstanding indebtedness . The company’s common stock has a par value of $0.0001 per share . HighPeak Energy, Inc. represents that its assets exceed its existing debts, and its assets constitute sufficient capital for business operations . As of a Trading Day within 60 days prior to the filing date of its most recent Annual Report on Form 10-K, the aggregate market value of its outstanding voting and non-voting common equity held by non-affiliates was $75 million or more, qualifying it for Form S-3 use . The company has not experienced any material adverse change in its capital stock or a Material Adverse Effect since its most recent financial statements, nor has it declared or paid dividends or made material changes to its long-term or short-term debt . The Placement Shares are authorized for issuance and will be validly issued, fully paid, and non-assessable upon delivery against payment . #### Operational and Financial Results (Three Months Ended March 31, 2026 vs. 2025) **Total Operating Revenues** Total operating revenues decreased to $215.885 million in Q1 2026 from $272.311 million in Q1 2025 . Crude oil sales were $199.155 million in Q1 2026, down from $246.424 million in Q1 2025 . NGL and natural gas sales were $16.730 million in Q1 2026, compared to $25.887 million in Q1 2025 . **Net Income / Loss** The company reported a net loss of - $127.4 million in Q1 2026, compared to a net income of $36.335 million in Q1 2025 . Adjusted net loss was - $2.7 million for Q1 2026 . **EBITDAX** EBITDAX was $133.5 million in Q1 2026, a decrease from $197.318 million in Q1 2025 . Unhedged EBITDAX per Boe was $36.76 in Q1 2026 . **Operating Costs and Expenses** Total operating costs and expenses were $179.818 million in Q1 2026, slightly down from $181.932 million in Q1 2025 . Income from operations decreased significantly to $36.017 million in Q1 2026 from $90.379 million in Q1 2025 . Lease operating expenses were 17% below the guided range and approximately 22% below fourth-quarter levels . Per Boe, lease operating costs were - $6.53 in Q1 2026, compared to - $6.61 in Q1 2025 . **Capital Expenditures** Total capital expenditures, excluding acquisitions, were $78.4 million for Q1 2026 . Additions to crude oil and natural gas properties were - $78.779 million in Q1 2026, compared to - $179.819 million in Q1 2025 . **Production and Sales Volumes** Production averaged approximately 46,000 BOE/d in Q1 2026, which was roughly 7.5% above the midpoint of its guided range . Daily oil production increased by 10% quarter over quarter . Sales volumes for Q1 2026 averaged 45.6 MBoe/d, comprising about 68% crude oil and 84% liquids . In Q1 2025, total average daily sales volumes were 53,128 Boe, including 38,222 Bbls of crude oil, 7,724 Bbls of NGLs, and 43,096 Mcf of natural gas . **Drilling Activity** The company drilled 9 gross (8.9 net) horizontal wells and turned-in-line 12 gross (12.0 net) producing wells during Q1 2026 . As of March 31, 2026, HighPeak Energy had 18 gross (17.8 net) horizontal wells in progress . **Realized Prices (excluding derivatives)** In Q1 2026, the average realized price for crude oil was $71.79 per Bbl, NGL was $17.22 per Bbl, and natural gas was $1.32 per Mcf, resulting in an overall realized price of $52.57 per Boe . This compares to Q1 2025 prices of $71.64 per Bbl for crude oil, $24.21 per Bbl for NGL, and $2.34 per Mcf for natural gas, totaling $56.95 per Boe . **Realized Prices (including derivatives)** For Q1 2026, average realized prices were $66.06 per Bbl for crude oil, $17.22 per Bbl for NGL, and $0.92 per Mcf for natural gas, leading to an overall realized price of $48.32 per Boe . **Cash Costs per Boe (Q1 2026)** Total cash costs were $15.81 per Boe, including $6.53 for lease operating costs, $0.66 for expense workovers, $4.32 for gathering, processing and transportation, $2.90 for production and ad valorem taxes, and $1.40 for G&A expenses . **Cash Flow** Net cash provided by operating activities was $54.201 million in Q1 2026, a decrease from $157.052 million in Q1 2025 . HighPeak Energy generated free cash flow, excluding changes in working capital, of more than $20 million in Q1 2026 . The reported free cash flow was - $14.135 million for Q1 2026, compared to $10.693 million in Q1 2025 . #### Outlook / Guidance HighPeak Energy aims to achieve financial resilience, continue its maintenance capital program, and prioritize corporate efficiency as its core objectives for 2026 . The company plans to use incremental free cash flow to strengthen its financial foundation and intends to pursue a fiscally responsible and disciplined development plan . First quarter results outperformed guidance across the board, positioning the company well to execute the balance of its annual plan . ### Related Stocks - [HPK.US](https://longbridge.com/en/quote/HPK.US.md) ## Related News & Research - [Earnings Preview For HighPeak Energy](https://longbridge.com/en/news/278580773.md) - [HighPeak Energy (NASDAQ:HPK) stock falls 14% in past week as three-year earnings and shareholder returns continue downward trend](https://longbridge.com/en/news/273907695.md) - [HighPeak Energy, Inc. 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