Highest-materiality recent filing
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).
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 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 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).
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 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.
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.
Max materiality 0.85 · Median 0.70 · Most common event other_material