Leadership Changes at HighPeak Energy Enhance Future Growth
Significant Leadership Transition at HighPeak Energy
HighPeak Energy, Inc. has recently made noteworthy changes in its leadership team, with major implications for its future direction. This transition involves the retirement of Jack Hightower, who has served as both Chief Executive Officer and Chairman of the Board. In an official announcement, the company highlighted that this decision was mutually agreed upon between Hightower and the Board of Directors.
Appointment of Interim CEO
Following Hightower's retirement, Michael L. Hollis has been appointed as the Interim Chief Executive Officer. Hollis is no stranger to the company, having served as its President since 2020 and as a Board member. His extensive experience spans over 25 years in the oil and gas industry, including previous leadership roles at Diamondback Energy, Inc., where he played a pivotal role in operations and strategy.
Industry Respect and Future Outlook
Jack Hightower expressed his confidence in Hollis by stating, "Michael has been well-respected in the industry for decades, and his knowledge and work ethic have been key to our achievements at HighPeak." Hightower's departure aims to allow him to focus on personal health and endeavors, while allowing the company to continue thriving under new leadership.
Gratitude for Founding Vision
In his remarks, Hollis acknowledged Hightower's significant contributions to the establishment of HighPeak Energy, thanking him for his vision and leadership. As the company moves forward, Hollis is committed to working closely with the Board and management team to ensure strategic goals are met and that HighPeak's growth trajectory continues.
Transition in Fund Management
In conjunction with Hightower's retirement, he will also step down from managing the HighPeak Energy Funds, which collectively hold a substantial percentage of the company's common stock. This pivotal shift will see fund management operated by a committee of executives including Hollis himself, and other key leaders within HighPeak Energy. This change ensures continuity and strategic oversight over the funds as HighPeak navigates its upcoming ventures.
About HighPeak Energy, Inc.
HighPeak Energy, Inc. operates as an independent crude oil and natural gas company with a focus on the acquisition, exploration, and development of unconventional energy resources. The company is strategically positioned within the Midland Basin in West Texas, a region known for its rich oil reserves. With ongoing strategic planning, HighPeak aims to enhance its operational efficiencies and expand its market presence.
Investor Relations and Contact Information
For those interested in learning more about HighPeak Energy, the company encourages inquiries and engagement with its investor relations team. Ryan Hightower, the Vice President of Business Development, can be reached at 817.850.9204 for any investor-related questions.
Frequently Asked Questions
What prompted the leadership change at HighPeak Energy?
Jack Hightower agreed to retire from his positions to focus on personal health, while Michael L. Hollis has been appointed as the new Interim CEO.
What experience does Michael L. Hollis bring to his new role?
Hollis has over 25 years of experience in the oil and gas industry, previously serving as President and COO of Diamondback Energy.
How will the management of HighPeak Energy Funds change?
A committee comprising Michael L. Hollis, Daniel Silver, and Ryan Hightower will oversee the management of the HighPeak Energy Funds post-Hightower’s retirement.
What is HighPeak Energy's primary business focus?
HighPeak Energy focuses on the acquisition, exploration, and development of unconventional oil and gas reserves, specifically in the Midland Basin of West Texas.
How can investors contact HighPeak Energy for inquiries?
Investors can reach out to Ryan Hightower, Vice President of Business Development, at 817.850.9204 for any queries regarding investment opportunities.
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