Pure Acquisition to merge with HighPeak Energy.

Pure Acquisition, an oil and gas exploration and production focused special purpose acquisition entity, agreed to acquire HighPeak Energy, an oil and natural gas company. The business combination is expected to close in the third quarter of 2020. “We are extremely excited about this transaction as this area provides for one of the best on-shore domestic US opportunities in regards to accelerated near-term cash flow growth, single well economics due to the high oil production content, industry-leading full-cycle operating margins and the economies of scale we expect to achieve in cost savings attributable to drilling and completion operations, production facilities and infrastructure due to the contiguous nature of the asset base. After reviewing our drilling success over the last six months, the HighPeak management team is confident in our ability to successfully implement the proposed development drilling program and achieve the anticipated growth profile of the company," Jack Hightower, HighPeak Energy’s Chairman and CEO.