HPK - HighPeak Energy Makes Significant Progress With Operating Cost Reductions
2024-05-17 02:56:06 ET
Summary
- HighPeak Energy's combined lease operating expense and workover expense ended up at $6.69 per BOE in Q1 2024.
- This was an 18% decrease from Q4 2023 and a 32% decrease from Q1 2023.
- HPK indicated that operating costs should be similar during the rest of 2024, which would be a large improvement over its original guidance.
- Production was roughly flat in Q1 2024 compared to Q4 2023, but is still likely to decline during the rest of 2024.
HighPeak Energy ( HPK ) appears to have made substantial progress in reducing its operating costs, with a $1.50 per BOE reduction in combined lease operating expense and workover expense in Q1 2024 compared to Q4 2023. It also indicated that it expects the lowered operating costs to continue during the rest of 2024....
HighPeak Energy Makes Significant Progress With Operating Cost Reductions