HighPeak Energy Explores Sale Amid Global Oil Market Volatility
HighPeak Energy, a US oil and gas exploration and production company based in Fort Worth, Texas, is exploring a sale after receiving acquisition interest. The company operates in the Permian Basin, specifically in the Midland portion, where it has over 140,000 acres of land.
According to sources, HighPeak is working with investment bankers at Evercore and Texas Capital Securities to engage potential buyers. This move comes after the company received an acquisition offer from an international party, although the bidder's identity remains undisclosed.
The sale effort may be motivated by the recent tensions in global oil markets, particularly following the Iran war that began in February. As a result of these tensions, crude assets in stable jurisdictions such as the United States have become more desirable for buyers.