Hunton Andrews Kurth Acts as Special Counsel to the Special Committee of the Board of Directors of Pure Acquisition Corp.

Hunton Andrews Kurth acted as special counsel to the Special Committee (the “Special Committee”) of the Board of Directors of Pure Acquisition Corp. (“Pure”), an oil and gas exploration and production focused special purpose acquisition company, in connection with its initial business combination pursuant to which Pure effected a so-called “double-dummy” business combination resulting in a newly formed and publicly traded company, HighPeak Energy, Inc. (“HighPeak Energy”). Pursuant to the business combination agreements, a wholly owned subsidiary of HighPeak Energy will merge with and into Pure, with Pure surviving as a wholly owned subsidiary of HighPeak Energy and Pure’s existing stockholders receiving one share of common stock of HighPeak Energy for each share of Pure’s common stock owned thereby. HighPeak Energy will then acquire certain assets from certain affiliates of HighPeak Energy Partners, LP in exchange for shares of its common stock and certain assets from Grenadier Energy Partners II, LLC in exchange for shares of its common stock, warrants to purchase shares of its common stock and cash. In addition to representing the Special Committee in negotiating the terms of the business combination with HighPeak Energy Partners and its funds, the Hunton Andrews Kurth team represented the company in its negotiations with Grenadier with respect to amending and restating the contribution agreement between HighPeak Energy and Grenadier.

Closing of the business combination is subject to the requisite approval of Pure’s stockholders and satisfaction of customary closing conditions, and the business combination is expected to close in the first quarter of 2020. Once closed, HighPeak Energy is expected to have an estimated enterprise value of $1.575 billion. HighPeak Energy will conduct its business as an independent oil and natural gas company engaged in the acquisition, development and production of oil, natural gas and NGL reserves with assets located in the northeastern part of the oil-rich Midland Basin.

The Hunton AK team included Mike O’Leary, Taylor Landry, Amanda Thienpont and Michael Wright for corporate matters; Hal Haltom and Ming Lei for oil and gas matters; and Tom Ford, Allison Mantor and Tim Strother for tax matters.