Danantara Invests US$ 250 Million in HighPeak Permian
Danantara Indonesia, through its investment holding company, PT Danantara Investment Management (DIM), today announced a strategic investment worth US$ 250 million in HighPeak Energy, Inc. (HighPeak) (NASDAQ: HPK), a Texas-based company involved in the acquisition, development, exploration, and exploitation of oil and gas in the Permian Basin. This investment transaction is being conducted through the issuance of convertible preferred stocks in several stages.
This investment provides DIM with strategic access to an oil-dominated asset portfolio in the Permian Basin, the largest oil-producing region in the United States. Through this investment, DIM is expanding Indonesia’s energy portfolio on a global scale, aligning with its mission to invest in sectors strategic to Indonesia. HighPeak will use the investment to strengthen its capital structure and financial flexibility to support the sustainable development and growth of its high-quality asset portfolio.
The Permian Basin is the largest crude oil producing region in the United States, accounting for 4% of total US production during 2025, according to the U.S. Energy Information Administration. Since 2007, production growth in this region has been primarily driven by the application of horizontal drilling and hydraulic fracturing (fracking) techniques. If reservoir conditions permit, these techniques can also be applied to mature onshore oil and gas fields to increase well productivity and oil and gas recovery, potentially serving as a relevant model for Indonesia in its efforts to increase domestic oil and gas production.
Once the transaction is completed, HighPeak will develop a training and secondment programme for Indonesian workers to support capability development and technical expertise exchange. Under the investment terms, DIM will receive protection against investment devaluation, with the opportunity to benefit from future equity value increases through conversion into common stock, as well as the option to participate in HighPeak’s subsequent share offerings through private placements. DIM will also appoint one representative to HighPeak’s board of directors.
Pandu Sjahrir, Chief Executive Officer of Danantara Investment Management, explained, “This investment aligns with our mandate to invest in strategic sectors that provide sustainable long-term returns while supporting Indonesia’s national interests. HighPeak’s strategic position in one of the world’s most advanced upstream oil and gas markets makes it a potential investment opportunity as we work to build a globally diversified investment platform. We hope this cooperation can facilitate the exchange of skills that supports the development of Indonesia’s energy sector, while strengthening the long-standing energy and economic ties between Indonesia and the United States.”
Michael Hollis, President and Chief Executive Officer of HighPeak, stated, “HighPeak operates a large-scale, oil-dominated asset portfolio in the Permian Basin. We believe the partnership with DIM will accelerate the development of these assets through sustained investment, including the expansion of drilling programmes. This partnership brings together long-term investors with a shared commitment to sustainable growth and value creation.”
DIM is fully committed to executing its mandate through disciplined investment and meaningful contributions to Indonesia’s long-term economic growth. The completion of this transaction remains subject to the fulfilment of applicable requirements and compliance with relevant policies.