Prairie Operating acquires DJ Basin assets from Bayswater for $602.75M

Prairie Operating Co.

Purchase price of $602.75M in cash + up to ~5.25M common shares; closing expected Feb 2025.
Adds ~24,000 net acres in Weld County, ~26 MBOEPD (69% liquids), proved PV-10 of ~$1.1B.
Credit facility borrowing base to expand to $475M at close; ~$315M drawn to fund cash portion.
Acquired properties generated $466.8M revenue and $381.1M excess over direct opex in FY 2023.

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