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Note 3 - Acquisitions	3 Months Ended
Mar. 31, 2023
Notes to Financial Statements
Acquisitions [Text Block]	NOTE 3. Acquisitions *Alamo Acquisitions.* In March 2022, the Company closed the first of two Alamo Acquisitions for total net consideration of $156.1 million, after normal and customary closing adjustments, including 6,960,000 shares of HighPeak Energy common stock valued at $156.6 million, at closing to acquire various crude oil and natural gas properties contiguous to its Flat Top operating area in Borden county, including associated producing properties, water system infrastructure and in-field fluid gathering pipelines. The Alamo Acquisitions were accounted for as asset acquisitions as substantially all of the gross assets acquired are concentrated in a group of similar identifiable assets. The consideration paid was allocated to the individual assets acquired and liabilities assumed based on their relative fair values. All transaction costs associated with the Alamo Acquisitions were capitalized. *Other acquisitions.* During the three months ended March 31, 2023, the Company incurred a total of $5.5 million in acquisition costs to acquire various bolt-on undeveloped crude oil and natural gas properties contiguous to its Flat Top and Signal Peak operating areas. During the three months ended March 31, 2022, the Company incurred an additional $6.8 million in acquisition costs to acquire various undeveloped crude oil and natural gas properties largely contiguous to its Signal Peak and Flat Top operating areas.

Note 3 - Acquisitions

3 Months Ended

Mar. 31, 2023

NOTE 3. Acquisitions

Alamo Acquisitions. In March 2022, the Company closed the first of two Alamo Acquisitions for total net consideration of $156.1 million, after normal and customary closing adjustments, including 6,960,000 shares of HighPeak Energy common stock valued at $156.6 million, at closing to acquire various crude oil and natural gas properties contiguous to its Flat Top operating area in Borden county, including associated producing properties, water system infrastructure and in-field fluid gathering pipelines. The Alamo Acquisitions were accounted for as asset acquisitions as substantially all of the gross assets acquired are concentrated in a group of similar identifiable assets. The consideration paid was allocated to the individual assets acquired and liabilities assumed based on their relative fair values. All transaction costs associated with the Alamo Acquisitions were capitalized.

Other acquisitions. During the three months ended March 31, 2023, the Company incurred a total of $5.5 million in acquisition costs to acquire various bolt-on undeveloped crude oil and natural gas properties contiguous to its Flat Top and Signal Peak operating areas. During the three months ended March 31, 2022, the Company incurred an additional $6.8 million in acquisition costs to acquire various undeveloped crude oil and natural gas properties largely contiguous to its Signal Peak and Flat Top operating areas.