other material
confidence medium
sentiment neutral
materiality 0.65
Prairie Operating files updated business disclosure; details merger, Exok acreage, possible reserves of 285 MBoe
Prairie Operating Co.
- Completed merger with Prairie LLC on May 3, 2023; name changed from Creek Road Miners; expects OTCQB ticker PROP by Nov 14.
- Reverse stock split at 1:28.5714286 on Oct 16, 2023; all share counts retroactively adjusted.
- Acquired ~23,485 net mineral acres from Exok; exercised option for additional 20,328 net acres for $18M cash plus equity in Aug 2023.
- Submitted permit application for Genesis OGDP (72 wells, Weld County, CO) on Sep 18, 2023; drilling expected Q1 2024 subject to permits and financing.
- Possible reserves as of Aug 1, 2023: 285,306 MBoe, PV10 of $2.36B from Codell and Niobrara formations; no proved reserves yet.