Investing.com -- HighPeak Energy shares rose roughly 8% on Thursday following a Reuters report that the company is exploring a potential sale.

The Fort Worth, Texas-based oil and gas exploration and production company has reportedly received acquisition interest and is weighing its options. The company focuses its operations on the Permian Basin.

HighPeak Energy is working with investment bankers at Evercore and Texas Capital Securities to engage with potential buyers. Discussions have taken place in recent weeks, the report said.

There is no certainty that the sale process will result in a transaction.