Prairie Operating acquires DJ Basin leases: 2.6 MMboe reserves, $40M PV10 for $900k

Prairie Operating Co.

Acquired 1,280-acre drillable spacing unit and 8 fully permitted PUDs in Weld County, CO for $900,000.
Adds 2.6 MMboe in proved reserves with ~$40M PV10 per CG&A report (SEC pricing as of Dec 31, 2023).
Pro forma permitted drilling inventory expands to 70 wells after closing of Nickel Road Operating acquisition (expected H1 2024).
PUDs are liquids-rich: 75% oil / 85% liquids, offset Niobrara developments near existing midstream.
CEO Ed Kovalik cites 'disciplined and opportunistic growth' as acquisition creates immediate value.

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