PROP - Prairie Operating Co. - Exploration And Production Of Oil Natural Gas And Natural Gas Liquids In The Denver-Julesburg (D-J) Basin

2024-02-07 15:06:42 ET

Summary

• Prairie Operating Co. is engaged in the exploration and production of oil, natural gas, and natural gas liquids in Weld County, Colorado.
• The company has secured a 45,000-acre position in the Denver-Julesburg Basin, known for its estimated reserves of over 5 billion barrels of oil equivalent.
• Prairie Operating Co. has a strategic business model with a focus on long-term development plans, strong insider ownership, and key financial partners.
• An ample takeaway infrastructure near Prairie's acreage, including Summit and Outrigger plants, provides oil and gas takeaway without additional capital investment.
• Prairie Operating Co. has strong insider ownership of its stock and a management team that has been successful in publicly traded E&P’s in the past.

Prairie Operating Co. (NASDAQ: PROP) (Prairie) is engaged in the exploration and production (EandP) of oil, natural gas, and natural gas liquids (NGLs). The company has secured approximately 45,000 acres in Weld County, Colorado, above the Niobrara and Codell formations in the Denver-Julesburg ((DJ)) Basin, known for its estimated reserves of over 5 billion barrels of oil equivalent. This 45,000-acre position includes the original 37,000 gross acres Prairie had when it came public and 5,500 net leasehold acres with 62 fully permitted proven undeveloped drilling locations from the acquisition of Nickel Road Operating LLC assets, which is expected to close in the first half of 2024, and its February 5, 2024 acquisition of a 1,280-acre drillable spacing unit and eight fully permitted proven undeveloped drilling locations in the DJ Basin from a private seller.

Prairie's land positions are in a rural area in close proximity to high-quality operators such as Chevron (NYSE: CVX), Occidental Petroleum Corporation (NYSE: OXY), Williams (NYSE: WMB), Civitas Resources, Inc. (NYSE: CIVI), and EOG Resources, Inc. (NYSE: EOG). You can find more information on Prairie Operating Co. on its corporate website . You can find all of Prairie Operating Co.'s audited financial statements here . ...

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