HighPeak Energy, Inc. (NASDAQ:HPK) Q2 2023 Results Conference Call August 8, 2023 11:00 AM ET
Company Participants
Steven Tholen - Chief Financial Officer
Jack Hightower - Chairman and Chief Executive Officer
Michael Hollis - President
Ryan Hightower - Vice President of Business Development
Conference Call Participants
John White - Roth Capital
Nicholas Pope - Seaport Research
Jeff Robertson - Water Tower
Operator
Good day and thank you for standing by and welcome to the HighPeak Energy 2023 Second Quarter Earnings Call. At this time, all participants are in a listen-only mode. After the speaker’s presentation there will be a question and answer session. [Operator Instructions] And please be advised that today’s conference is being recorded.
I would now like to hand a conference over to your speaker today. Steven Tholen, CFO. Please go ahead.
Steven Tholen
Good morning everyone and welcome to HighPeak Energy’s second quarter 2023 earnings call. Representing HighPeak today are Chairman and CEO, Jack Hightower; President, Michael Hollis; and Vice President of Business Development, Ryan Hightower and I’m Steven Tholen, the Chief Financial Officer.
During today’s call, we will make reference to our August investor presentation and our second quarter earnings release, which can be found on HighPeaks website.
Today’s call participants may make certain forward-looking statements relating to the company’s financial condition, results of operations, expectations, plans, goals, assumptions and future performance. So please refer to the cautionary information regarding forward-looking statements and related risks in the Company’s SEC filings, including the fact that actual results may differ materially from our expectations due to a variety of reasons, many of which are beyond our control.
We will also refer to certain non-GAAP financial measures on today’s call, so please see the reconciliations in the earnings release and our August Investor Presentation.
I will now turn the call over to our Chairman and CEO, Jack Hightower.
Jack Hightower
Thank you, Steve and good morning ladies and gentlemen. We want to thank you for joining our call today regarding our second quarter earnings. My prepared remarks will begin on page four of our presentation. This is perhaps one of the most exciting presentations in the history of HighPeak.
As you can see, we are substantially a different company today than we were just a few short months ago. Not only is this an exciting time, but we have also recently achieved two very important company milestones.
Number 1, our production is averaged over 50,000 barrels a day, BOE equivalent per day thus far in the third quarter. That is an 18% increase over our quarter average and a 35% increase compared to our first quarter average. This increase is in accordance with our projections, and continues to track our internal expectations.