---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-050775"
form_type: "8-K"
ticker: "PROP"
cik: "0001162896"
company_name: "Prairie Operating Co."
filed_at: "2024-12-19T23:59:59+00:00"
generated_at: "2026-05-29T01:07:10.791224+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Prairie Operating signs $1.0B reserve-based credit facility; initial borrowing base $44M

## Summary
- Credit facility with $1.0B maximum commitment; initial borrowing base $44M; $28M drawn, $7.2M available.
- Facility matures Dec 16, 2026; covenants require net leverage ≤2.50x and current ratio ≥1.00x.
- Amended subordinated note with entities controlled by director J. Gray extends maturity to Mar 17, 2027.
- Interest margins range from 3.00%-4.00% for SOFR loans based on borrowing base utilization.
- Must hedge at least 80% of proved developed producing reserves through Dec 31, 2028.

## SEC filing metadata
- accession: 0001493152-24-050775
- form_type: 8-K
- ticker: PROP
- cik: 0001162896
- company_name: Prairie Operating Co.
- filed_at: 2024-12-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1162896/000149315224050775/0001493152-24-050775-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1162896/000149315224050775/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-050775
- JSON: https://secwatch.observer/filing/0001493152-24-050775.json
- Plain text: https://secwatch.observer/filing/0001493152-24-050775.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.