Core Viewpoint - Prairie Operating Co. has initiated a public offering of $200 million in common stock to finance the acquisition of oil and gas assets from Bayswater Exploration and Production [1][2] Group 1: Offering Details - The company is offering $200 million in shares of its common stock, with an option for underwriters to purchase an additional $30 million worth of shares [1] - Citigroup is the lead book-running manager for the offering, with several other firms acting as joint book-running managers and co-managers [3] Group 2: Use of Proceeds - The net proceeds from the offering will primarily fund the purchase price for the Bayswater Acquisition, with remaining funds allocated for general corporate purposes, including development programs and debt repayment [2] Group 3: Company Overview - Prairie Operating Co. is an independent oil and gas company focused on acquiring and developing crude oil, natural gas, and natural gas liquids, primarily in the Denver-Julesburg Basin [6]

Core Viewpoint - Prairie Operating Co. has announced a definitive purchase and sale agreement to acquire assets from Bayswater Exploration and Production, significantly expanding its operational scale and footprint in the Denver-Julesburg Basin [1][2][3] Acquisition Details - The purchase price for the Bayswater Acquisition is $602.75 million, consisting of cash and approximately 5.2 million shares of Prairie common stock [2] - The cash portion will be funded through a combination of cash on hand, borrowings under an expanded credit facility, and proceeds from capital markets transactions [2] - The acquisition is expected to close in February 2025, with an economic effective date of December 1, 2024 [2] Strategic and Financial Advantages - The acquisition is expected to be immediately accretive and will enhance operational efficiencies, accelerate development plans, and drive long-term value creation for shareholders [3] - The transaction is viewed as a transformative milestone for Prairie, significantly increasing its footprint and production of oil-rich assets in the DJ Basin [3] 2025 Updated Guidance - Upon closing, the combined company's 2025 pro forma outlook includes adding approximately 24,000 net acres and 26 mboepd of oil-weighted net production [5] - The acquisition adds 77.9 MMboe and approximately $1.1 billion in Proved PV-10 value [5] - The transaction is expected to significantly increase production, revenue, and adjusted EBITDA guidance for 2025 [5] Production and Financial Metrics - The acquisition will lead to a transformational increase in oil-weighted production to approximately 27,500 net BOEPD, with 69% liquids [6] - The total net acreage will expand to approximately 54,000, including around 600 highly economic drilling locations, providing about 10 years of drilling inventory [6] - Expected adjusted EBITDA is projected to range between $350 million and $370 million [7] Reserve Data - Pro forma net reserves as of November 30, 2024, include 23,581 MBbl of oil, 14,810 MBbl of NGL, and 113,611 MMcf of gas, totaling 104,093 MBoe [9] - The total proved reserves have a PV-10 value of approximately $1.36 billion [9]

Company Overview - Prairie Operating Co. (PROP) shares increased by 10.4% to $8.29 in the last trading session, with a higher-than-average trading volume [1] - The stock has gained 8.8% over the past four weeks [1] Financial Guidance - The company projects a 300% year-over-year production growth for 2025 [2] - Prairie plans to drill and complete 25–28 wells in 2025, with expected daily output between 7,000 and 8,000 barrels of oil equivalent per day (BOEPD) [2] - Executives highlighted an aggressive acquisition strategy to drive growth and scale operations [2] Earnings Expectations - Prairie Operating Co. is expected to report quarterly earnings of $0.11 per share, reflecting a year-over-year increase of 115.5% [3] - Revenue is anticipated to be $19.2 million, a significant increase of 2009.9% from the same quarter last year [3] Stock Performance and Estimates - The consensus EPS estimate for the upcoming quarter has remained unchanged over the last 30 days [4] - The stock's price typically does not continue to rise without trends in earnings estimate revisions [4] - Prairie Operating Co. currently holds a Zacks Rank of 3 (Hold) [4] Industry Comparison - Prairie Operating Co. belongs to the Zacks Oil and Gas - Integrated - United States industry [4] - Another company in the same industry, National Fuel Gas (NFG), saw a 2.2% increase in its stock price, closing at $69.77, with a 13.1% return over the past month [4]

Core Viewpoint - Prairie Operating Co. has expanded its executive management team by adding four experienced industry leaders to enhance growth, innovation, and operational excellence [1][6]. Group 1: New Leadership Team Members - Gregory S. Patton has been appointed as Executive Vice President of Commercial Development, bringing over 15 years of experience in oil and gas operations, including M&A and implementation of technologies [2]. - Lou Basenese joins as Executive Vice President of Market Strategy, with over 25 years of experience in financial management and strategic planning, focusing on promotional initiatives and media relations [3]. - Tim Smith has been appointed as Senior Vice President of Reservoir Engineering, contributing over 15 years of technical expertise in geology and reservoir engineering, particularly in the DJ Basin [4]. - Steve R. Stacy takes on the role of Senior Vice President of Land, with over 34 years of experience in land management and negotiations, overseeing land acquisition and stakeholder relationships [5]. Group 2: Future Growth Positioning - The addition of these executives reflects the company's commitment to building a world-class organization and maximizing value from its asset portfolio [6]. - The new leadership team will enhance Prairie's ability to grow its drilling inventory and production capabilities, drive operational efficiencies, leverage technological advancements, and expand visibility in media [7]. - Prairie Operating Co. focuses on the responsible development of oil and natural gas resources, aiming for consistent growth and sustainable cash flow generation [8].

Core Viewpoint - Prairie Operating Co. has announced its operational and financial guidance for 2025, highlighting a strong growth strategy and significant value proposition for investors, particularly in the Denver Julesburg basin [1][2]. Financial Guidance - Expected production growth of approximately 300% year-over-year [2][8]. - Projected adjusted EBITDA between $100 million and $140 million, reflecting a valuation of approximately 1x projected 2025 EBITDA [2][8]. - Anticipated net income to range between $69 million and $102 million [8]. - Average daily production expected to be between 7,000 and 8,000 barrels of oil equivalent per day (BOEPD) [8]. - Capital expenditures (Capex) projected at $120 million to $130 million, focusing on high-return drilling opportunities in the DJ Basin [8]. - Plans to drill and complete between 25 to 28 wells [8]. Strategic Initiatives - The company aims to actively pursue additional strategic acquisition opportunities, which will lead to updates in guidance to reflect enhanced scale and value [2]. - The operational strategy is centered on maximizing returns through consistent growth, capital discipline, and sustainable cash flow generation [9].

Core Insights - Prairie Operating Co. has successfully completed its initial eight-well Shelduck South pad in the DJ Basin on time, with production expected to be fully online in the first quarter of 2025 [1][2] - The completion of the Shelduck pad marks a significant advancement in the company's growth strategy, alongside the recent acquisition of Nickel Road Operating (NRO) [2] - Prairie is committed to sustainable and efficient operations, utilizing advanced electrified drilling and completion technologies in its developments [2] 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 United States, particularly in the DJ Basin [3] - The company's operations are concentrated in oil and liquids-rich regions, with a primary focus on the Niobrara and Codell formations [3] - Prairie aims to maximize returns through consistent growth, capital discipline, and sustainable cash flow generation [3] Future Developments - Following the completion of the Shelduck South pad, Prairie will shift its focus to the recently acquired NRO acreage and the development of additional pads, including Noble, Rusch, and Genesis [2] - These future projects are expected to build on the momentum established at Shelduck South, further expanding Prairie's production footprint in the DJ Basin [2]

Core Viewpoint - Prairie Operating Co. has secured a multi-year Reserve-Based Lending (RBL) credit facility with an initial commitment of $44 million, expandable up to $1 billion, enhancing its financial flexibility and development plans [1][2]. Financial Flexibility - The RBL facility, arranged with Citibank, N.A., allows Prairie to expand its financial resources in line with production increases, demonstrating the strength of its asset base [1][2]. - The initial commitment of $44 million from Citi provides Prairie with a reputable financial partner, which is expected to bolster confidence in achieving strategic objectives [2]. Strategic Development - The facility's expansion option supports Prairie's focus on organic development and strategic asset acquisitions in the DJ Basin, particularly in the Niobrara and Codell formations [2][3]. - This credit facility aligns with Prairie's development milestones, positioning the company for sustained growth in the oil and natural gas sector [3]. 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 United States, particularly in the Denver-Julesburg (DJ) Basin [4]. - The company emphasizes responsible resource development, aiming to maximize returns through consistent growth, capital discipline, and sustainable cash flow generation [4].

HOUSTON, TX, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Prairie Operating Co. (NASDAQ:PROP) (the "Company" or "Prairie") today announced it will host a conference call and simultaneous webcast to provide an update on the Company's operations and key achievements in 2024, Thursday, December 19, 2024, at 4:30 PM ET. Webcast Access: Date: December 19, 2024Time: 4:30pm Eastern Time (3:30pm Central Time)Participant Listening: 1-877-704-4453 or 1-201-389-0920 The webcast may be accessed from the "Press & Media" page of P ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |--------------------------------------------------|----------------------------------------------------|-----------------------| | | | | | For the transition period f ...

Prairie Operating Co. (PROP) shares soared 12.5% since Oct 3 to close at $9.73. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.2% gain over the past four weeks. The surge can be attributed to a favorable commodity price environment and Prairie's strong presence in the D-J Basin of the United States. The company owns 30,000 net acres in the D-J Basin. Recently, the company acquired assets from Nickel Road Operating, LLC, primar ...