Prairie Operating Co. Common Stock (PROP)
Prairie Operating Co. (PROP) is involved in the exploration, production, and development of oil and natural gas assets. The company focuses on maximizing resource recovery through various drilling and extraction techniques, primarily operating within specific regional basins to optimize production efficiency.
Company News
Prairie Operating acquired certain assets from Edge Energy II for $12.5 million, adding approximately 11,000 net acres to its DJ Basin footprint, expanding to around 60,000 net acres. The acquisition is non-dilutive and funded through the company's credit facility.
Prairie Operating Co. announced the completion of nine DUC wells on the Opal Coalbank pad, the launch of an 11-well development program at the Rusch Pad, and the execution of a strategic hedging program that is now 'in the money' by $70 million, providing strong cash flow stability.
In the most recent trading session, Prairie Operating Co. (PROP) closed at $14.44, indicating a -1.1% shift from the previous trading day.