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].

Company Overview - Prairie Operating Co. is a publicly traded independent energy company based in Houston, focused on the development and acquisition of oil and natural gas resources in the United States [4] - The company's operations are primarily concentrated in the oil and liquids-rich regions of the Denver-Julesburg (DJ) Basin, specifically targeting the Niobrara and Codell formations [4] - Prairie is committed to responsible resource development, aiming to maximize returns through consistent growth, capital discipline, and sustainable cash flow generation [4] Upcoming Conference Call - Prairie Operating Co. will host a conference call and webcast on December 19, 2024, at 4:30 PM ET to provide updates on its operations and key achievements in 2024 [1] - Participants can access the call via telephone or through the company's website, with registration required for telephone participation [2][3] - A replay of the webcast will be available on the company's website for two weeks following the call [3]

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 ...

HOUSTON, Texas, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Prairie Operating Co. (Nasdaq: PROP) (the "Company" or "Prairie") today announced that Watermill Capital Partners and its affiliates exercised Series E B Warrants (the "Warrants") to purchase 4,000,000 shares of common stock of the Company, generating $24 million in proceeds. This exercise follows Watermill Capital Partners' $12 million warrant exercise in November 2023, highlighting their continued confidence and support for Prairie's growth strategy. With ...

Financial Performance - For the three months ended June 30, 2024, the company reported a loss from operations of $8,568,797, an increase of $5.7 million compared to the same period in 2023 [103]. - Total operating costs and expenses for the six months ended June 30, 2024, were $16,613,438, reflecting an increase of $13.7 million compared to the same period in 2023 [103]. - General and administrative expenses for the three months ended June 30, 2024, increased by $5.7 million compared to the same period in 2023, primarily due to employee and benefit expenses [104]. - The net cash used in operating activities totaled $8.4 million for the six months ended June 30, 2024, an increase of $3.4 million from $5.1 million in the same period of 2023 [117]. - The company had a net loss of $17.6 million for the six months ended June 30, 2024, with an accumulated deficit of $96.4 million [120]. Acquisition and Investments - The company entered into a securities purchase agreement for a total of $20.0 million, which includes 39,614 shares of common stock and 20,000 shares of Series E Preferred Stock [95]. - The NRO Acquisition for the Central Weld Assets is valued at $94.5 million, consisting of $83.0 million in cash and $11.5 million in deferred cash payments [100]. - The company anticipates closing the NRO Acquisition by August 15, 2024, subject to securing necessary financing [101]. - The company expects to raise approximately $74.0 million in cash to close the NRO Acquisition, but currently lacks sufficient cash or committed capital for this purpose [112]. Cash Flow and Liquidity - As of June 30, 2024, the company reported a working capital deficit of $7.9 million, compared to a working capital of $8.1 million as of December 31, 2023 [117]. - Cash and cash equivalents decreased from $13.0 million as of December 31, 2023, to $2.2 million as of June 30, 2024 [117]. - The company anticipates that its cash balance will decline until financing is obtained through public or private capital markets [120]. Operational Updates - The company plans to commence its initial drilling program in August 2024, starting with an 8-well pad targeting the Niobrara B and C formations [99]. - As of June 30, 2024, the company has not had any drilling or completion operations on its Genesis Assets, which include 24,351 net mineral acres [98]. - The company divested all cryptocurrency mining assets in January 2024, with a sale consideration of $1.0 million in cash and $1.0 million in deferred cash payments [102]. - The company recognized a $1.0 million loss on the sale of cryptocurrency mining equipment during the six months ended June 30, 2024 [110]. - For the six months ended June 30, 2024, the net loss from discontinued operations decreased by $15.8 million compared to the same period in 2023, primarily due to the completion of the Crypto Sale in January 2024 [110]. Interest and Income - Interest income for the three months ended June 30, 2024, increased to $55,139, up from $43,037 in the same period in 2023 [105]. - Net cash used in investing activities increased to $11.8 million for the six months ended June 30, 2024, compared to $3.3 million in the same period of 2023 [118]. Funding Strategy - The company plans to fund its business and strategic plans with cash on hand and proceeds from warrant exercises, with expectations of $24.0 million from common stock warrants [121].

HOUSTON, Texas, July 09, 2024 (GLOBE NEWSWIRE) -- Prairie Operating Co. (NASDAQ:PROP) (the "Company" or "Prairie") today announced plans to commence its initial drilling program in August 2024, starting with an 8-well pad on the recently acquired bolt-on acquisition, "Shelduck South". "We are excited to commence our drilling program at Shelduck South in August," stated Ed Kovalik, Chairman and CEO of Prairie Operating Co. "This development not only underscores our strategic growth initiatives but also align ...