HighPeak Energy explores sale after acquisition interest
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An oil pumpjack operates in the Permian Basin near Monahans, Texas, in 2026. FILE PHOTO. |
U.S. oil and gas producer HighPeak Energy is exploring a possible sale after receiving interest from a potential international buyer, according to people familiar with the matter.
The Fort Worth, Texas-based company has been working with investment banks Evercore and Texas Capital Securities to contact potential buyers. Discussions have taken place in recent weeks as HighPeak considers its strategic options.
The company operates in the Midland area of the Permian Basin, one of the main oil-producing regions in the United States. HighPeak has more than 140,000 acres (57,000 hectares) there and produced about 45,500 barrels of oil equivalent per day during the first half of 2026, according to a company presentation issued in August.
The potential sale follows an acquisition offer from an international party, although the identity of the interested buyer was not disclosed. The people familiar with the discussions said there is no guarantee that the process will result in a transaction.
HighPeak had a market value of about $1 billion and $1.1 billion in long-term debt as of June 30, according to LSEG data.
The company and Evercore did not respond to requests for comment. Texas Capital Securities declined to comment.
Interest in U.S. oil assets has increased as disruptions linked to the conflict in the Middle East have raised concerns about global energy supplies. The conflict has restricted crude movements through the Strait of Hormuz, contributing to volatility in international oil markets.
Oil prices moved back above $100 a barrel this week as traders assessed the risks to supplies from the region. Energy dealmakers have said producers operating in stable jurisdictions such as the United States can become more attractive to buyers when geopolitical risks threaten other sources of crude.
HighPeak is focused on the Midland section of the Permian Basin, a major U.S. shale-producing area. Its acreage gives the company exposure to one of the country's most established oil and gas regions.
The company previously considered a sale in 2023, when it announced that it would examine strategic alternatives. HighPeak has been publicly traded since 2020, following its merger with blank-check company Pure Acquisition Corp.
The current discussions remain at an exploratory stage, and the company has not announced a decision to sell the business.
