Prairie Operating acquires Nickel Road assets for $94.5M; adds 3,370 Boepd, 62 permitted PUDs in DJ Basin

Prairie Operating Co.

Total consideration $94.5M ($83M cash + $11.5M deferred); effective date Feb 1, 2024.
Adds 3,370 net Boepd (84% liquids), 5,500 net acres, 62 permitted PUDs.
Proven reserves of 22.2 MMboe with PV10 of ~$254M per CG&A report.
Expected to close H1 2024; funded via stock, cash on hand, warrants.
Accretive to production, reserves, and free cash flow; break-even below $30/bbl WTI.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Prairie Operating Co. entered into Purchase Agreement with Nickel Road Development LLC, Nickel Road Operating LLC, Prairie Operating Co., LLC valued at $94.5 million (effective 2024-01-11).

Action: entry
Agreement: asset purchase
Counterparty: Nickel Road Development LLC, Nickel Road Operating LLC, Prairie Operating Co., LLC
Value: $94.5 million
Effective: 2024-01-11

Exact text from the filing

On January 11, 2024, Prairie Operating Co. (the “Company”) entered into an asset purchase agreement (the “Purchase Agreement”), by and among the Company, Nickel Road Development LLC, Nickel Road Operating LLC (“NRO”) and Prairie Operating Co., LLC, to acquire the assets of NRO (the “Assets”) for total consideration of $94.5 million (the “Purchase Price”)

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75 material agreements filed in the last 30 days. Browse all material agreements →

Prairie Operating Co. filing history →

Source: SEC EDGAR

accession 0001493152-24-002129

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