Aramark (NASDAQ:HPK) Q3 2022 Earnings Conference Call November 15, 2022 11:00 AM ET
Company Participants
Steven Tholen - Chief Financial Officer
Jack Hightower - Chairman & Chief Executive Officer
Michael Hollis - President
Ryan Hightower - Vice President of Business Development
Conference Call Participants
Nicholas Pope - Seaport Research
Jeffrey Robertson - Water Tower Research
Operator
Thank you for standing by and welcome to the HighPeak Energy Third Quarter 2022 Earnings Conference Call. [Operator Instructions]
And now I would now like to introduce your host for today's program, Mr. Steven Tholen, Chief Financial Officer. Please go ahead sir.
Steven Tholen
Thank you and good morning, everyone, and welcome to HighPeak Energy's Third Quarter 2022 Conference Call. Representing HighPeak today are Chairman and CEO, Jack Hightower; President, Michael Hollis; Vice President of Business Development, Ryan Hightower; and I am Steven Tholen, the Chief Financial Officer.
During today's call, we will make reference to our November investor presentation and our third quarter 2022 earnings release, which can be found on HighPeak's website at www.highpeakenergy.com.
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 in our third quarter investor presentation.
I will now turn the call over to our Chairman and CEO, Jack Hightower
Jack Hightower
Steve, thank you very much and welcome ladies and gentlemen. I'm going to start by saying basically that we've continued to grow the production and all aspects of the business. This has been a great quarter; what we're most proud of is a 63% increase from second quarter average production to our fourth quarter to-date average rate of over 35,750 barrels of oil per day. No other company has been able to generate that kind of growth while maintaining a conservative balance sheet and staying below one turn of debt to EBITDA that's in keeping with our plan.
We've grown our acreage position. We've grown production. We've grown cash flow, and we continue to substantially add to prove reserves as we expand our development program across the entirety of our acreage bought in several different zones.