2022 Q3 Form 10-Q Financial Statement

#000143774922019358 Filed on August 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $204.1M $201.4M $92.23M
YoY Change 329.97% 317.29% 258.63%
Cost Of Revenue $19.71M $16.59M $9.446M
YoY Change 193.7% 253.69% 323.59%
Gross Profit $184.4M $184.8M $82.78M
YoY Change 352.4% 324.14% 252.42%
Gross Profit Margin 90.35% 91.76% 89.76%
Selling, General & Admin $1.877M $2.016M $1.940M
YoY Change 12.67% 24.68% 10.29%
% of Gross Profit 1.02% 1.09% 2.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $42.62M $34.88M $17.02M
YoY Change 206.27% 106.93% 31.33%
% of Gross Profit 23.11% 18.87% 20.56%
Operating Expenses $1.877M $2.016M $1.940M
YoY Change 12.67% 24.68% 10.29%
Operating Profit $118.3M $122.8M $54.57M
YoY Change 438.78% 483.72% 823.11%
Interest Expense $14.61M $9.282M $5.252M
YoY Change 1442.56% 6006.58% 9625.93%
% of Operating Profit 12.35% 7.56% 9.62%
Other Income/Expense, Net $0.00 $0.00 $0.00
YoY Change -100.0%
Pretax Income $139.5M $101.6M -$16.82M
YoY Change 1268.73% 1318.86% -387.11%
Income Tax $31.60M $24.07M -$312.0K
% Of Pretax Income 22.65% 23.69%
Net Earnings $107.9M $77.56M -$16.51M
YoY Change 1240.92% 1250.53% -448.02%
Net Earnings / Revenue 52.86% 38.51% -17.9%
Basic Earnings Per Share $0.90 $0.69 -$0.17
Diluted Earnings Per Share $0.85 $0.64 -$0.17
COMMON SHARES
Basic Shares Outstanding 109.2M 103.2M 95.84M
Diluted Shares Outstanding 115.1M 111.2M 95.84M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $34.35M $22.42M $35.85M
YoY Change 187.05% 74.56% 273.44%
Cash & Equivalents $34.35M $22.42M $35.85M
Short-Term Investments
Other Short-Term Assets $22.95M $27.12M $15.13M
YoY Change 768.55% 2339.21% 1581.11%
Inventory $8.181M $6.207M $3.986M
Prepaid Expenses $5.686M $19.07M $15.08M
Receivables $83.20M $90.24M $46.17M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $148.7M $146.0M $101.1M
YoY Change 250.5% 284.6% 267.38%
LONG-TERM ASSETS
Property, Plant & Equipment $3.548M $2.473M $1.637M
YoY Change 153.97% 133.96% 56.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.656M $4.234M $4.515M
YoY Change 35.06% 1694.07% 506.04%
Total Long-Term Assets $1.894B $1.603B $1.044B
YoY Change 182.14% 182.95% 94.41%
TOTAL ASSETS
Total Short-Term Assets $148.7M $146.0M $101.1M
Total Long-Term Assets $1.894B $1.603B $1.044B
Total Assets $2.042B $1.749B $1.145B
YoY Change 186.2% 189.33% 102.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $124.0M $102.0M $59.06M
YoY Change 904.46% 466.05% 361.42%
Accrued Expenses $101.3M $104.2M $58.08M
YoY Change 239.42% 402.78% 182.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change
Total Short-Term Liabilities $260.4M $272.1M $179.6M
YoY Change 238.06% 400.77% 416.15%
LONG-TERM LIABILITIES
Long-Term Debt $561.8M $488.5M $203.2M
YoY Change 503.38% 3999.11%
Other Long-Term Liabilities $0.00 $116.0K $2.080M
YoY Change -100.0% 346.15% 3900.0%
Total Long-Term Liabilities $561.8M $488.6M $205.3M
YoY Change 500.44% 3991.16% 394663.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $260.4M $272.1M $179.6M
Total Long-Term Liabilities $561.8M $488.6M $205.3M
Total Liabilities $822.1M $760.8M $384.9M
YoY Change 381.97% 1047.74% 1004.29%
SHAREHOLDERS EQUITY
Retained Earnings $95.96M -$8.948M -$83.63M
YoY Change -194.57% -90.75% -18.38%
Common Stock $11.00K $11.00K $10.00K
YoY Change 22.22% 22.22% 11.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.101B $900.4M $693.9M
YoY Change
Total Liabilities & Shareholders Equity $2.042B $1.749B $1.145B
YoY Change 186.2% 189.33% 102.85%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $107.9M $77.56M -$16.51M
YoY Change 1240.92% 1250.53% -448.02%
Depreciation, Depletion And Amortization $42.62M $34.88M $17.02M
YoY Change 206.27% 106.93% 31.33%
Cash From Operating Activities $154.6M $98.24M $49.95M
YoY Change 282.18% 173.57% 339.17%
INVESTING ACTIVITIES
Capital Expenditures -$323.1M -$238.1M -$165.1M
YoY Change 399.83% 428.14% 267.87%
Acquisitions
YoY Change
Other Investing Activities $28.89M -$160.2M $14.20M
YoY Change -160.7% -112894.37% 9.65%
Cash From Investing Activities -$294.2M -$398.2M -$150.9M
YoY Change 162.14% 786.03% 372.73%
FINANCING ACTIVITIES
Cash Dividend Paid $2.382M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 151.5M 286.6M $101.9M
YoY Change 113.71% 2239.95% 858.56%
NET CHANGE
Cash From Operating Activities 154.6M 98.24M $49.95M
Cash From Investing Activities -294.2M -398.2M -$150.9M
Cash From Financing Activities 151.5M 286.6M $101.9M
Net Change In Cash 11.93M -13.43M $981.0K
YoY Change -1461.99% -518.47% -109.9%
FREE CASH FLOW
Cash From Operating Activities $154.6M $98.24M $49.95M
Capital Expenditures -$323.1M -$238.1M -$165.1M
Free Cash Flow $477.7M $336.3M $215.0M
YoY Change 354.54% 315.26% 282.28%

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PaymentsOfDividendsEquivalents
427000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
58000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
29820000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
22877000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
366000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
25225000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
5803000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
148186000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
47280000 usd
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
403177000 usd
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
89959000 usd
hpk Increase Decrease In Working Capital Associated With Oil And Natural Gas Property Additions
IncreaseDecreaseInWorkingCapitalAssociatedWithOilAndNaturalGasPropertyAdditions
105476000 usd
hpk Increase Decrease In Working Capital Associated With Oil And Natural Gas Property Additions
IncreaseDecreaseInWorkingCapitalAssociatedWithOilAndNaturalGasPropertyAdditions
15223000 usd
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
250448000 usd
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
2070000 usd
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
996000 usd
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
61000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6710000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-549145000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Stock Issued1
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264982000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
9098000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1759000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
7750000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
5466000 usd
hpk Proceeds From Subscription Receivable From Exercises Of Warrants
ProceedsFromSubscriptionReceivableFromExercisesOfWarrants
0 usd
hpk Proceeds From Subscription Receivable From Exercises Of Warrants
ProceedsFromSubscriptionReceivableFromExercisesOfWarrants
3596000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
120000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1574000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
4959000 usd
us-gaap Stock Issued1
StockIssued1
0 usd
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
3676000 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
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0 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 usd
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
600000 usd
us-gaap Use Of Estimates
UseOfEstimates
<b><i>Use of estimates in the preparation of financial statements. </i></b>Preparation of the Company's consolidated financial statements in<b><i> </i></b>conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Depletion of crude oil and natural gas properties and evaluations for impairment of proved and unproved crude oil and natural gas properties, in part, is determined using estimates of proved, probable and possible crude oil, NGL and natural gas reserves. There are numerous uncertainties inherent in the estimation of quantities of proved, probable and possible reserves and in the projection of future rates of production and the timing of development expenditures. Similarly, evaluations for impairment of proved crude oil and natural gas properties are subject to numerous uncertainties including, among others, estimates of future recoverable reserves, commodity price outlooks and future undiscounted and discounted net cash flows. In addition, evaluations for impairment of unproved crude oil and natural gas properties on a project-by-project basis are also subject to numerous uncertainties including, among others, estimates of future recoverable reserves, results of exploration activities, commodity price outlooks, planned future sales or expirations of all or a portion of such projects. Other items subject to such estimates and assumptions include, but are not limited to, the carrying value of crude oil and natural gas properties, asset retirement obligations, equity-based compensation, fair value of derivatives and estimates of income taxes. Actual results could differ from the estimates and assumptions utilized. 
CY2022Q2 us-gaap Income Tax Receivable
IncomeTaxReceivable
3200000 usd
CY2021Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
3200000 usd
CY2022Q2 us-gaap Oil And Gas Joint Interest Billing Receivables
OilAndGasJointInterestBillingReceivables
9100000 usd
CY2021Q4 us-gaap Oil And Gas Joint Interest Billing Receivables
OilAndGasJointInterestBillingReceivables
3100000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<b><i>Concentration of credit risk. </i></b>The Company is subject to credit risk resulting from the concentration of its crude oil and natural gas receivables with significant purchasers. For the six months ended June 30, 2022 and 2021, sales to the Company’s largest purchaser accounted for approximately 88% and 95%, respectively, of the Company’s total crude oil, NGL and natural gas sales revenues. The Company generally does not require collateral and does not believe the loss of this particular purchaser would materially impact its operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers in various regions. 
CY2022Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
19100000 usd
CY2021Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
7200000 usd
CY2022Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
6200000 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
562000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
438000 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
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2473000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1600000 usd
CY2022Q2 us-gaap Accounts Payable And Accrued Liabilities Current
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272100000 usd
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
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103000000.0 usd
us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
515400000 usd
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-16442000 usd
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-12558000 usd
CY2022Q2 hpk Net Cash Receipts From Payments On Derivatives
NetCashReceiptsFromPaymentsOnDerivatives
37082000 usd
CY2021Q2 hpk Net Cash Receipts From Payments On Derivatives
NetCashReceiptsFromPaymentsOnDerivatives
1038000 usd
hpk Net Cash Receipts From Payments On Derivatives
NetCashReceiptsFromPaymentsOnDerivatives
61843000 usd
hpk Net Cash Receipts From Payments On Derivatives
NetCashReceiptsFromPaymentsOnDerivatives
1038000 usd
CY2022Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-11891000 usd
CY2021Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-13596000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-78285000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
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us-gaap Capitalized Exploratory Well Cost Additions Pending Determination Of Proved Reserves
CapitalizedExploratoryWellCostAdditionsPendingDeterminationOfProvedReserves
161331000 usd
us-gaap Reclassification To Well Facilities And Equipment Based On Determination Of Proved Reserves
ReclassificationToWellFacilitiesAndEquipmentBasedOnDeterminationOfProvedReserves
177720000 usd
CY2022Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
9388000 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
2071000 usd
CY2022Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
12080000 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
-0 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
488532000 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
97929000 usd
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
488532000 usd
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
97929000 usd
CY2022Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
8055000 usd
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
4260000 usd
hpk Asset Retirement Obligations Liabilities Assumed
AssetRetirementObligationsLiabilitiesAssumed
3218000 usd
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
457000 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
120000 usd
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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9705495
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.00
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y8M12D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
57942000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
442500
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
14.36
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
154268
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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10.00
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
10000
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
10.00
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9983727
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.19
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y8M12D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
44395000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
824500
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
29.67
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
12000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
10.00
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10796227
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.68
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M18D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
152316000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
8551070
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
10.13
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y8M12D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
38556000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
8551070
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
10.13
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y8M12D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
38556000 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
9268914
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
11.67
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y3M18D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
103055000 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
9268914
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
11.67
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y3M18D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
103055000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
257000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
349000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
606000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
15000 usd
CY2021Q2 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 usd
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 usd
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 usd
CY2021Q2 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 usd
CY2022Q2 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
23315000 usd
CY2021Q2 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1420000 usd
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
23127000 usd
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
2535000 usd
CY2022Q2 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
757000 usd
CY2021Q2 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 usd
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
633000 usd
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 usd
CY2022Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
24072000 usd
CY2021Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1420000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
23760000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2535000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24072000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
23760000 usd
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1420000 usd
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
false
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2535000 usd
dei Entity Central Index Key
EntityCentralIndexKey
0001792849
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-39464
dei Entity Registrant Name
EntityRegistrantName
HighPeak Energy, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
84-3533602
dei Entity Address Address Line1
EntityAddressAddressLine1
421 W. 3rd St., Suite 1000
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
76102
dei Entity Address City Or Town
EntityAddressCityOrTown
Fort Worth
dei Entity Address State Or Province
EntityAddressStateOrProvince
TX
dei City Area Code
CityAreaCode
817
dei Local Phone Number
LocalPhoneNumber
850-9200
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2022Q2 us-gaap Dividends
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2600000 usd
CY2022Q1 us-gaap Dividends
Dividends
2400000 usd
CY2022Q2 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
21343000 usd
CY2021Q2 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1505000 usd
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
17810000 usd
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
2735000 usd
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
1930000 usd
CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
28000 usd
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
5536000 usd
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-81000 usd
CY2022Q2 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
848000 usd
CY2021Q2 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
0 usd
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
724000 usd
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
0 usd
CY2022Q2 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-49000 usd
CY2021Q2 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-113000 usd
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-310000 usd
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-119000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24072000 usd
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1420000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
23760000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2535000 usd
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.237 pure
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.198 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.280 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.195 pure
CY2022Q2 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
6890000 usd
CY2021Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
3248000 usd
CY2022Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
4037000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2870000 usd
CY2022Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3052000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
0 usd
CY2022Q2 us-gaap Deferred Tax Asset Interest Carryforward
DeferredTaxAssetInterestCarryforward
2629000 usd
CY2021Q4 us-gaap Deferred Tax Asset Interest Carryforward
DeferredTaxAssetInterestCarryforward
4373000 usd
CY2022Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
97000 usd
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
31000 usd
CY2022Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
16705000 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
10522000 usd
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
109226591
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
96774185
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
8290572
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
71347000 usd
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
9500166
CY2022Q2 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
96267000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
66324000 usd
CY2022Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
79562000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
55802000 usd
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Dilutive Securities
DilutiveSecurities
124000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9744000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
55006000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
55882000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
77561000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
5743000 usd
us-gaap Net Income Loss
NetIncomeLoss
61051000 usd
us-gaap Net Income Loss
NetIncomeLoss
10487000 usd
CY2022Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
6376000 usd
CY2021Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
407000 usd
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
5169000 usd
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
743000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
71185000 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5336000 usd
CY2022Q2 us-gaap Dilutive Securities
DilutiveSecurities
162000 usd
CY2021Q2 us-gaap Dilutive Securities
DilutiveSecurities
0 usd
CY2022Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2022Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
21694763
us-gaap Dilutive Securities
DilutiveSecurities
1000 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
5336000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
9745000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103178000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92676000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
99530000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92634000
CY2022Q2 hpk Incremental Common Shares Attributable To Share Based Payment Arrangements And Warrants
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsAndWarrants
5928000
CY2021Q2 hpk Incremental Common Shares Attributable To Share Based Payment Arrangements And Warrants
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsAndWarrants
0
hpk Incremental Common Shares Attributable To Share Based Payment Arrangements And Warrants
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsAndWarrants
5191000
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2122000
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2122000
hpk Stock Issued During Period Shares Warrants And Stock Options Exercised
StockIssuedDuringPeriodSharesWarrantsAndStockOptionsExercised
977588
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
111228000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92676000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
106843000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92830000
CY2022Q2 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
371517
CY2022Q2 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
3522117
CY2022Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1748772000 usd

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