Revenue: As of FY2026 Q2, the actual value is USD 272.42 M.

EPS: As of FY2026 Q2, the actual value is USD 0.59.

EBIT: As of FY2026 Q2, the actual value is USD 134.7 M.

Second Quarter 2026 Financial Results

Net Income

HighPeak Energy, Inc. reported net income of $82.3 million for the second quarter of 2026, compared to $26.176 million for the second quarter of 2025. For the six months ended June 30, 2026, the company reported a net loss of - $45.173 million, compared to a net income of $62.511 million for the same period in 2025.

EBITDAX

EBITDAX was $147.6 million for the second quarter of 2026, compared to $156.024 million for the second quarter of 2025. For the six months ended June 30, 2026, EBITDAX was $281.068 million, compared to $353.342 million for the same period in 2025.

Operating Revenues

Total operating revenues for the second quarter of 2026 were $272.419 million, up from $216.472 million in the second quarter of 2025. For the six months ended June 30, 2026, total operating revenues were $488.304 million, slightly down from $488.783 million for the same period in 2025. Crude Oil Sales: $260.361 million in Q2 2026, up from $196.723 million in Q2 2025. For the six months ended June 30, 2026, crude oil sales were $459.516 million, up from $443.147 million in 2025. NGL and Natural Gas Sales: $12.058 million in Q2 2026, down from $19.749 million in Q2 2025. For the six months ended June 30, 2026, NGL and natural gas sales were $28.788 million, down from $45.636 million in 2025.

Operating Costs and Expenses

Total operating costs and expenses for the second quarter of 2026 were $189.176 million, compared to $170.539 million in Q2 2025. For the six months ended June 30, 2026, total operating costs and expenses were $368.994 million, compared to $352.471 million in 2025. Crude oil and natural gas production: $32.641 million in Q2 2026, down from $33.726 million in Q2 2025. Gathering, processing and transportation: $17.234 million in Q2 2026, up from $16.072 million in Q2 2025. Production and ad valorem taxes: $13.254 million in Q2 2026, up from $12.391 million in Q2 2025. General and administrative: $7.004 million in Q2 2026, up from $5.671 million in Q2 2025.

Operating Profit

Income from operations was $80.243 million for the second quarter of 2026, up from $43.444 million in Q2 2025. For the six months ended June 30, 2026, income from operations was $116.260 million, down from $133.823 million in 2025.

Cash Flow

• Net cash provided by operating activities: $126.345 million for Q2 2026, compared to $141.213 million for Q2 2025. For the six months ended June 30, 2026, it was $180.546 million, compared to $298.265 million for the same period in 2025.
• Free cash flow: $37.636 million for Q2 2026, compared to - $42.677 million for Q2 2025. For the six months ended June 30, 2026, it was $23.501 million, compared to - $31.984 million for the same period in 2025.

Capital Expenditures

Total capital expenditures, excluding acquisitions, for the second quarter of 2026 were $107.5 million.

Operational Metrics

• Average Daily Sales Volumes (Q2 2026): HighPeak Energy, Inc. reported average daily sales volumes of 45.285 MBoe/d, consisting of approximately 64% crude oil and 83% liquids, which is down from 48.649 MBoe/d in Q2 2025. For the six months ended June 30, 2026, average daily sales volumes were 45.456 MBoe/d, down from 50.876 MBoe/d in 2025.
• Drilling Activity (Q2 2026): The company averaged one drilling rig and one frac crew, drilled 8 gross (7.7 net) horizontal wells, completed 16 gross (16.0 net) horizontal wells, and turned-in-line 8 gross (8.0 net) producing wells.
• Wells in Progress (June 30, 2026): 21 gross (20.4 net) horizontal wells were in progress, with 16 gross (15.6 net) in various stages of completion.

Unique Financial Indicators

• Cash Costs per Boe (Q2 2026): $17.02 per Boe, including lease operating costs of $6.43 per Boe, expense workovers of $1.49 per Boe, gathering, processing and transportation expenses of $4.18 per Boe, production and ad valorem taxes of $3.22 per Boe, and G&A expenses of $1.70 per Boe.
• Unhedged EBITDAX per Boe (Q2 2026): $49.09 per Boe.

Outlook / Guidance

HighPeak Energy, Inc.’s first-half 2026 results showed production 7% above the midpoint of guidance and operating expenses 13% below the midpoint of guidance. This performance is leading to stronger free cash flow generation and balance sheet improvement. The company remains committed to disciplined capital allocation and creating durable long-term value for shareholders.