Highest-materiality recent filing
Prairie Operating receives Nasdaq minimum bid price deficiency notice; 180 days to cure
Nasdaq notified Prairie on July 2, 2026 that closing bid price was below $1.00 for 30 consecutive business days.
Prairie Operating appoints Gregory S. Patton as CEO and Michael Shelly as CFO
Patton, previously EVP/CFO, becomes CEO; receives $625k base salary and 850,000-share equity award split between PSUs (price milestones) and RSUs (3-year vest).
Prairie Operating Co. reaffirms $475M borrowing base, amends credit facility with Citibank
Reaffirmed $475M borrowing base under Second Amendment to A&R Credit Agreement with Citibank.
Prairie Operating stockholders elect all four director nominees; ratify Deloitte as auditor
Director nominees Frommer, Gray, Lee, and Thoresen each elected with over 35 million votes for; broker non-votes ~25.9M per nominee.
Prairie Operating Q1 production 23,200 Boe/d; revenue $83.4M (+500% QoQ)
Total production 2.1 MMBoe (23,200 Boe/d); 72% liquids (48% oil).
Prairie Operating Co. director Gizman I. Abbas resigns effective May 15, 2026
Abbas chaired the Nominating and Governance Committee and served on Compensation and Audit Committees.
Repurchased 13,727 Series F Preferred shares from High Trail for $18,999,047.64 cash plus accrued dividends paid in stock.
Prairie Operating amends warrant issuance date to April 9, agrees to pay $3M to investors
Anniversary Warrant Issuance Date moved from April 7 to April 9, 2026.
Prairie Operating 2025 revenue $241.6M (+3000% YoY); record production 18,500 Boe/d
Revenue $241.6M ($315M incl. Bayswater), up ~3000% YoY; Adjusted EBITDA $155.5M ($220M incl.), up >975%.
Prairie Operating amends preferred stock deal; accelerates warrant issuance to Apr 7, 2026
Amendment moves Anniversary Warrant Issuance Date to April 7, 2026 (from first anniversary of March 2025 closing).
Prairie CEO Kovalik resigns, President Hanna retires; Frommer named Interim CEO, Thoresen Chairman
Edward Kovalik resigns as CEO and Chairman, Gary Hanna retires as President and director, effective March 2, 2026.
Prairie Operating Q3: record production 23,029 boe/d, net loss $22.5M, adj EBITDA $56.3M
Record production of 23,029 Boe/d (52% oil), up 10% QoQ; current rate ~27,000 Boe/d.
Prairie Operating Co. dismisses HL&B, appoints Deloitte as auditor for FY2025
No disagreements or reportable events with HL&B during FY2023, FY2024, or interim period through June 30, 2025.
Prairie Operating amends exec comp: CEO base raised to $750k, bonus target cut to 125%
CEO Ed Kovalik base salary increased to $750k (from $550k), bonus target reduced to 125% (from 250%), retroactive to Jan 1, 2025.
Prairie Q1 2025 revenue $68.1M, net income $48.5M, production up 540% QoQ
Total revenue of $68.1M, up ~400% QoQ; net income attributable to common stockholders $48.5M ($1.04 basic EPS).
Prairie Operating enters $75M at-the-market equity distribution agreement with Citigroup and Truist
Company may sell up to $75M of common stock in ATM offerings through Citigroup and Truist.
Prairie Operating stockholders approve doubling LTIP share reserve to 15M
Amendment to LTIP approved at June 4, 2025 annual meeting; shares reserved increase from 7.5M to 15M.
Prairie Operating stockholders approve Series F conversion and warrant issuance at special meeting
Proposal 1 (Nasdaq stock issuance on Series F conversion): 18.18M votes for, 223.6K against, 9.0K abstain.
Prairie closes $602.75M Bayswater acquisition, secures $1.0B credit facility
Acquired DJ Basin assets for ~$483.5M cash plus 3,656,099 shares of common stock.
Raised ~$139.1M net from sale of 148,250 Series F Preferred shares ($1,000 stated value, 12% cumulative dividend).
Prairie Operating files audited financials for $603M Bayswater acquisition target
Acquisition of Weld County, CO oil & gas properties from Bayswater for $603M, subject to adjustments; closing pending.
Offering of 150,000 shares of Series F Preferred Stock at $1,000 stated value per share, plus warrants exercisable after one year
Prairie Operating amends Bayswater asset deal: extends close date, $16M equity cap
Outside Date for closing extended to March 20, 2025 from original date in Feb 6 PSA.
Prairie Operating promotes Gregory S. Patton to CFO; Craig Owen to retire April 1
Gregory S. Patton appointed CFO effective April 1, 2025; previously EVP of Commercial Development since March 2024.
Prairie Operating acquires DJ Basin assets from Bayswater for $602.75M
Purchase price of $602.75M in cash + up to ~5.25M common shares; closing expected Feb 2025.
Prairie Operating signs $1.0B reserve-based credit facility; initial borrowing base $44M
Credit facility with $1.0B maximum commitment; initial borrowing base $44M; $28M drawn, $7.2M available.
Prairie files Nickel Road financials; $84.5M acquisition closed Oct 1
Acquisition of all of Nickel Road’s oil and gas interests closed October 1, 2024, with amended purchase price of $84.5M.
Prairie Operating Co. Elects Richard N. Frommer to Board; Stockholders Agreement Terminated
Board elected Richard N. Frommer, former CEO of Great Western Petroleum, as independent director filling vacancy from Paul Kessler's resignation.
Director Paul L. Kessler resigns from Prairie Operating Board effective Oct 30, 2024
Paul L. Kessler provided notice of resignation as a Board member, effective October 30, 2024.
Prairie Operating closes $49.6M NRO acquisition, raises $15M equity & $20M debt
Closed $49.6M cash acquisition of Nickel Road Development oil & gas assets on Oct 1, 2024.
Amendment to APA reduces cash consideration at closing from ~$71.5M to $57M; extends outside date to Sep 17, 2024.
Stockholders approve 2024 LTIP reserving 7.5M shares; re-elect all seven director nominees
Approved 2024 Amended & Restated Long-Term Incentive Plan, reserving 7,500,000 shares of common stock for future awards.
Prairie Operating raises beneficial ownership limit for Bristol warrants to 19.99%
Amendment increases ceiling from 9.99% to 19.99% for Series D PIPE Warrants held by Bristol.
Prairie Operating files pro forma for $94.5M NRO acquisition and crypto mining exit
NRO asset acquisition for $94.5M ($83M cash + $11.5M deferred); $9M escrow deposited.
Prairie Operating files S-1 amendment, reserve reports for planned common stock offering
Filed Amendment No. 2 to registration statement on Form S-1 for an offering of common stock.
Prairie Operating updates S-1 with reserve reports for three asset packages as of Jan 31, 2024
Filed reserve reports for Initial Genesis Assets, Central Weld Assets, and Genesis Bolt-on Assets.
Audited financials of Nickel Road Operating LLC: 2023 net income $19.76M, revenue $48.17M, total assets $106.45M.
Prairie Operating files S-1 for common stock offering, updates with reserve report
Filed Form S-1 on Feb 9, 2024 for an offering of common stock.
Prairie files NRO acquisition financials; NRO net income $40.8M in 2022 on $66.1M revenue
NRO audited 2022 net income $40.8M, oil and gas sales $66.1M (up 52% YoY from $43.5M).
Prairie Operating acquires DJ Basin leases: 2.6 MMboe reserves, $40M PV10 for $900k
Acquired 1,280-acre drillable spacing unit and 8 fully permitted PUDs in Weld County, CO for $900,000.
Prairie Operating exits crypto mining, pro forma shows shift to oil & gas
Sold all cryptocurrency miners for $1.0M cash + $1.0M deferred payments on Jan 23, 2024.
Prairie Operating sells crypto mining equipment for $2M; defers half via revenue sharing
Sold all cryptocurrency miners to Matthew Austin Lerman for $1.0M cash and $1.0M deferred payments.
Total consideration $94.5M ($83M cash + $11.5M deferred); effective date Feb 1, 2024.
Prairie Operating receives Nasdaq approval; trading begins Dec 28 under ticker PROP
Approved for listing on Nasdaq Capital Market on December 21, 2023.
Prairie Operating Co. updates business, reports possible reserves of 285 Mboe with $2.36B PV-10
Completed merger with Prairie LLC, changed name from Creek Road Miners to Prairie Operating Co.; ticker changed to PROP on Nov 13, 2023.
Completed merger with Prairie LLC on May 3, 2023; name changed from Creek Road Miners; expects OTCQB ticker PROP by Nov 14.
Merger with Prairie LLC closed May 3, 2023; name changed from Creek Road Miners; ticker to become PROP on Nov 14, 2023.
Converted $2,000,000 principal of 12% convertible debentures into 11,447,619 common shares.
Reverse stock split at 1:28.5714286 ratio effective Oct 16, 2023.
Prairie Operating submits 72-well Colorado permit; board ups LTIP shares to 35M
Filed initial permit with Colorado ECMC for Genesis OGDP: 72 wells on 2 pads (Burnett, Oasis) in Weld County.
appointed (i) Gregory S. Patton, the Company’s Executive Vice President and Chief Financial Officer, to serve as Chief Executive Officer of the Company and as a member of the Board
appointed (i) Gregory S. Patton, the Company’s Executive Vice President and Chief Financial Officer, to serve as Chief Executive Officer of the Company and as a member of the Board
appointed Gregory S. Patton, the Company’s Executive Vice President of Commercial Development as Chief Financial Officer, effective April 1, 2025.
On March 7, 2025, Craig Owen notified the Company of his decision to resign from his role as the Company’s Executive Vice President and Chief Financial Officer, effective April 1, 2025.
On November 21, 2024, the Board elected Richard N. Frommer as a member of the Board, filling the vacancy remaining due to the previously disclosed resignation of Mr. Kessler.
On October 30, 2024, Paul L. Kessler provided the Board of Directors (the “Board”) of Prairie Operating Co. (the “Company”) with notice of his resignation as a member of the Board, effective October 30, 2024.
Effective as of May 7, 2023, the Board of Directors (the “ Board ”) of Prairie Operating Co. (the “ Company ”) increased to seven members and appointed Jonathan Gray and Erik Thoresen (collectively, the “ New Directors ”).
Effective as of May 7, 2023, the Board of Directors (the “ Board ”) of Prairie Operating Co. (the “ Company ”) increased to seven members and appointed Jonathan Gray and Erik Thoresen (collectively, the “ New Directors ”).
The Board appointed Gary C. Hanna as President, Edward Kovalik as Chief Executive Officer, Craig Owen as Chief Financial Officer, Jeremy Ham as Chief Commercial Officer and Bryan Freeman as Executive Vice President of Operations
The Board appointed Gary C. Hanna as President, Edward Kovalik as Chief Executive Officer, Craig Owen as Chief Financial Officer, Jeremy Ham as Chief Commercial Officer and Bryan Freeman as Executive Vice President of Operations
John D. Maatta resigned as Chief Executive Officer and Interim Chief Financial Officer.
The Board appointed Gary C. Hanna as President, Edward Kovalik as Chief Executive Officer, Craig Owen as Chief Financial Officer, Jeremy Ham as Chief Commercial Officer and Bryan Freeman as Executive Vice President of Operations
Max materiality 0.85 · Median 0.62 · Most common event other_material