HOUSTON, TEXAS, March 19, 2026 (GLOBE NEWSWIRE) -- Prairie Operating Co. (Nasdaq: PROP) (the “Company” or “Prairie”), an independent energy company engaged in the development and acquisition of oil and natural gas resources in the Denver-Julesburg (DJ) Basin – today announced that members of its senior management team will participate in the 38th Annual ROTH Conference being held March 22-24 at The Ritz-Carlton, Laguna Niguel in Dana Point, Ca. Rich Frommer, Interim Chief Executive Officer and President, an ...

HOUSTON, TEXAS, March 17, 2026 (GLOBE NEWSWIRE) -- Prairie Operating Co. (Nasdaq: PROP) (the “Company” or “Prairie”), an independent energy company engaged in the development and acquisition of oil and natural gas resources in the Denver-Julesburg (DJ) Basin – today announced it will release its fourth quarter and fiscal year 2025 financial and operating results after market close on March 31, 2026. The Company will host a conference call and webcast the following day at 8:30 AM Eastern Time (7:30 AM Centra ...

Core Insights - Prairie Operating Co., LLC (NASDAQ:PROP) is recognized as one of the 11 fastest growing penny stocks to consider for investment opportunities [1] Group 1: Proved Reserves Evaluation - On March 5, 2026, Prairie Operating reported total proved reserves of approximately 121 million barrels of oil equivalent, which includes 60 million barrels of oil, 195 billion cubic feet of natural gas, and 29 million barrels of natural gas liquids [2] - Of the total proved reserves, about 68 million barrels of oil equivalent (MMBoe) were classified as proved developed reserves, while 53 MMBoe were classified as proved undeveloped reserves [2] - The company's production at year-end 2025 was approximately 28,000 barrels of oil equivalent per day [2] Group 2: Financial Metrics - Using SEC pricing as of December 31, 2025, Prairie estimated net realized prices of $62.99 per barrel of oil, $0.797 per Mcf of natural gas, and $18.56 per barrel of natural gas liquids over the life of its proved properties [3] - Estimated future net cash flows before federal income taxes tied to proved reserves totaled about $2.41 billion, with a discounted present value of roughly $1.22 billion using a 10% annual discount rate [3] - Approximately $860 million, or 71%, of the estimated future net cash flows value is attributed to proved developed reserves [3] Group 3: Leadership Changes - On March 3, 2026, Prairie Operating announced the voluntary resignation of CEO and Chairman Edward Kovalik and the retirement of President and Director Gary Hanna [4] - The board appointed Richard Frommer as Interim President and CEO while a search for a permanent chief executive is underway, and Erik Thoresen was named Chairman of the Board [4] - The search process for a new CEO will include both internal and external candidates [4]

HOUSTON, TX, March 09, 2026 (GLOBE NEWSWIRE) -- Prairie Operating Co. (Nasdaq: PROP) (the “Company” or “Prairie”), an independent energy company engaged in the development and acquisition of oil and natural gas resources in the Denver-Julesburg (DJ) Basin – today announced that members of its senior management team will participate in the upcoming investor conference. March 16, 2026 – Piper Sandler’s 26th Annual Energy Conference. Interim Chief Executive Officer and President, Rich Frommer and Executive Vic ...

Core Viewpoint - Prairie Operating Co. has reported its year-end proved reserves evaluation, highlighting a total of 121 million barrels of oil equivalent (MMBoe) with a present value of $1,220 million at SEC pricing as of December 31, 2025, and an exit rate production of approximately 28,000 barrels of oil equivalent per day [1][2][3]. Reserves Evaluation - The independent evaluation of proved reserves was conducted by Cawley, Gillespie & Associates, Inc., with an effective date of December 31, 2025, and it adheres to SEC guidelines [3][4]. - Prairie's total proved reserves consist of 60 million barrels of oil, 195 billion cubic feet of natural gas, and 29 million barrels of natural gas liquids, totaling approximately 121 MMBoe, with 68 MMBoe classified as proved developed and 53 MMBoe as proved undeveloped [4][5]. Production and Financial Metrics - The company's operated and non-operated production at year-end 2025 was approximately 28,000 barrels of oil equivalent per day, reflecting the strength of its producing asset base [5]. - Estimated future net cash flows before federal income taxes attributable to total proved reserves were approximately $2,414 million, with a PV-10 value of approximately $1,220 million, of which about $860 million (71%) is attributable to proved developed reserves [7]. Pricing and Realized Prices - As of December 31, 2025, SEC pricing was $65.34 per barrel of oil and $3.387 per MMBtu of natural gas, leading to net realized prices of $62.99 per barrel of oil, $0.797 per Mcf of natural gas, and $18.56 per barrel of NGLs over the life of the proved properties [6]. Company Overview - Prairie Operating Co. is an independent energy company based in Houston, focused on the development and acquisition of oil and natural gas resources in the Denver-Julesburg (DJ) Basin, particularly in the Niobrara and Codell formations [11].

Leadership Transition - Prairie Operating Co. is undergoing a leadership transition with Richard N. Frommer appointed as Interim President and CEO, and Erik Thoresen as Chairman of the Board following the resignation of Edward Kovalik and retirement of Gary C. Hanna [1][6] - The company is actively seeking a permanent President and CEO with the assistance of an executive search firm [1][6] Management Experience - Richard N. Frommer brings over 40 years of experience in the oil and gas industry, having held leadership roles at Great Western Petroleum, Samson Resources Company, and HS Resources Inc., which is expected to guide the company through its next growth phase [2] - Erik Thoresen has a background in finance and business development, with previous executive roles at Fusion Acquisition Corp. II and Glass House Group, Inc. [2] Company Focus and Strategy - Prairie Operating Co., based in Houston, focuses on developing and acquiring oil, natural gas, and natural gas liquids resources, primarily in the Denver-Julesburg Basin [3] - The company aims for responsible resource development and seeks to maximize returns through consistent growth and capital discipline [3] Financial Analysis - An analyst from William Blair set a price target of $3.50 for PROP, indicating a potential price increase of about 95.52% from its current trading price of $1.79 [4][6] - The company's P/E ratio of 3.95 suggests a low valuation compared to its earnings, while a price-to-sales ratio of 0.53 indicates a modest market valuation of its sales [4] - The enterprise value to sales ratio is 2.97, reflecting the company's total valuation in relation to its sales [5] - With an earnings yield of 25.30%, PROP offers a substantial return on its earnings relative to its share price [5] - However, a high debt-to-equity ratio of 4.13 indicates significant reliance on debt financing, and a current ratio of 0.83 suggests potential liquidity challenges [5]

Leadership Changes - Prairie Operating Co. announced the voluntary resignation of CEO and Chairman Edward Kovalik and the retirement of President and director Gary C. Hanna [2] - Richard N. Frommer has been appointed as Interim President and CEO while the company searches for a permanent replacement [2][3] - Erik Thoresen has been appointed as Chairman of the Board [2] Experience and Background of New Leadership - Richard N. Frommer brings over four decades of experience in the oil and gas industry, with a strong background in the DJ Basin and Rocky Mountain region [3] - Frommer previously served as President and CEO of Great Western Petroleum and has held various executive roles, demonstrating a disciplined approach to asset development and capital allocation [3][5] - Erik Thoresen has a diverse background in finance and business development, having served in various executive roles including CFO of Fusion Acquisition Corp. II and chief business development officer at Glass House Group [6] Company Focus and Strategy - Prairie Operating Co. is focused on the development and acquisition of oil, natural gas, and natural gas liquids resources, primarily in the Denver-Julesburg Basin [8] - The company aims to maximize returns through consistent growth, capital discipline, and sustainable cash flow generation [8]

Core Viewpoint - Prairie Operating Co. (PROP) is a profitable oil producer facing significant stock price pressure due to potential dilution concerns, creating a notable margin of safety for investors [1]. Company Overview - PROP is characterized as a sizable and profitable oil producer, indicating a strong operational performance within the industry [1]. - The company's stock price has been adversely affected by the threat of a dilution trigger, leading to a depressed valuation [1]. Investment Strategy - The investment approach focuses on value investing, seeking opportunities with a tangible margin of safety or significant discounts to long-term earning potential [1]. - There is an emphasis on understanding the business model and its position within the industry's capital cycle to identify potential risks [1]. - Preference is given to companies with sustainable competitive advantages and management that aligns with shareholder interests [1]. Market Position - The current market situation presents an opportunity for investors, as the stock is undervalued, suggesting that the market has not fully recognized its potential [1].

Group 1 - The article discusses the analysis of oil and gas companies, focusing on identifying undervalued firms within the sector [1] - The author emphasizes the cyclical nature of the oil and gas industry, highlighting the need for patience and experience in investing [2] - The investing group, Oil & Gas Value Research, seeks out under-followed oil companies and midstream firms that present attractive investment opportunities [2] Group 2 - The article mentions that members of the Oil & Gas Value Research group receive exclusive analysis and insights not available to the general public [1] - The group includes an active chat room for investors to discuss recent developments and share investment ideas [2]

Core Insights - Prairie Operating Co. has reported significant progress in its operations and financial performance for the third quarter of 2025, highlighting a focus on expanding its footprint in the DJ Basin and optimizing operations [3][6][8]. Financial Performance - Total revenue for the third quarter reached $77.7 million, marking a 15% increase quarter-over-quarter [8][10]. - Net income was reported at $1.3 million, with a net loss attributable to common stockholders of $22.5 million, equating to a loss per share of $0.44 [10][46]. - Adjusted EBITDA reached a record $56.3 million, reflecting an increase of over 45% quarter-over-quarter [8][10]. - Capital expenditures for the quarter totaled $69.6 million [10][20]. Production and Operations - The company achieved a record production rate of 23,029 barrels of oil equivalent per day (Boe/d), with approximately 52% of this being oil [9][15]. - Current production rate stands at approximately 27,000 net Boe/d, driven by successful development programs and the completion of new wells [6][9]. - The company completed flowback operations on seven new wells and is finalizing completion activities on six additional wells [7][11]. Acquisitions and Strategic Initiatives - Prairie completed the transition period following the Bayswater acquisition, assuming full operational control of those assets [6][9]. - The company closed two bolt-on acquisitions, adding approximately 11 net drilling locations and 3,400 net acres [9][10]. - An expanded hedging program has been implemented to secure favorable commodity pricing through 2028 [9][10]. Guidance and Future Outlook - Prairie reaffirms its full-year guidance for 2025, expecting adjusted EBITDA to range between $240 million and $260 million [26][32]. - The company anticipates average daily production between 24,000 and 26,000 Boe/d and capital expenditures of $260 million to $280 million for the year [26][32].