Water Tower Research Managing Director of Natural Resources Jeff Robertson joined Steve Darling from Proactive to share some insight into HighPeak Energy. This company is a Midland Basin-focused independent oil and gas exploration and production company that owns approximately 51,000 net acres in the eastern portion of Howard County, Texas. The company operates approximately 93% of its acreage and owns an average of 84% working interest in the operated acreage.
Robertson telling Proactive the company's management has laid out a $135 to $150 million capital program for 2021 that aims to generate average daily production of 10.5 to 12.0 MBOE/d for the full year. Production was about 7.8 MBOE/d in mid-March.