Highpeak Energy, Inc. (NASDAQ:HPK) Q4 2022 Earnings Conference Call March 7, 2023 11:00 AM ET

Company Participants

Steven Tholen - CFO

Jack Hightower - Chairman & CEO

Michael Hollis - President & Director

Conference Call Participants

Jeffrey Robertson - Water Tower Research

John White - ROTH MKM Partners

Operator

Good day, and thank you for standing by. Welcome to the HighPeak Energy 2022 Fourth Quarter Earnings Conference Call. [Operator Instructions]. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, the CFO, Steven Tholen. Mr. Tholen, please go ahead.

Steven Tholen

Thank you. Good morning, everyone, and welcome to HighPeak Energy's Fourth Quarter 2022 Earnings Call. Representing HighPeak today are our Chairman and CEO, Jack Hightower; President, Michael Hollis, Vice President of Business Development, Ryan Hightower, and I am Stephen Tholen, the Chief Financial Officer. During today's call, we will make reference to our March investor presentation and our fourth quarter 2022 earnings release, which can be found on HighPeak's 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 March investor presentation.

I will now turn the call over to our Chairman and CEO, Jack Hightower.

Jack Hightower

Thanks, Steve, and good morning, ladies and gentlemen, and we want to thank you for joining our call today. As we go forward and think about the last year, it's just amazing that we've had such a banner year. But also, I want to emphasize that everybody is aware that we have began our process for strategic alternatives, and we'll talk a little bit about that today. But I want to just point out that we posted great year-end 2022 results. Hopefully, you've had a chance to look at your press release and you can see that our expectations and further substantiate our long-term strategic plan.

As I look back on 2022, unquestionably, we've had a banner year. We increased our business in a really responsible and multipronged approach, both through the and through strategic accretive acquisitions. That's how we [indiscernible] on a balanced approach with organic growth through drilling and also through accretive acquisitions. We've moved from 61,000 acres at the end of 2021 to over 112,000 acres today. We grew our acreage position, but we also delineated the majority of our acquired acreage in multiple zones across our entire position.