Prairie Operating Co. Completes Shelduck South Pad, Prepares for New Developments
Prairie Operating Co. (Nasdaq: PROP) has announced the timely completion of its eight-well Shelduck South pad in the DJ Basin, with production expected to be fully online in Q1 2025. This development, along with the recent Nickel Road Operating (NRO) acquisition, marks the first phase of Prairie's 2025 development program.
The company is implementing electrified drilling and completion technologies at Shelduck South, demonstrating its commitment to sustainable operations. Following this milestone, Prairie is now focusing on developing the newly acquired NRO acreage and advancing the Noble, Rusch, and Genesis pads.
Prairie Operating Co. (Nasdaq: PROP) ha annunciato il completamento tempestivo della sua piattaforma a otto pozzi Shelduck South nel Bacino DJ, con produzione prevista per essere completamente operativa nel primo trimestre del 2025. Questo sviluppo, insieme all'acquisizione recente di Nickel Road Operating (NRO), segna la prima fase del programma di sviluppo 2025 di Prairie.
L'azienda sta implementando tecnologie di perforazione e completamento elettrificate a Shelduck South, dimostrando il suo impegno per operazioni sostenibili. Dopo questo traguardo, Prairie si sta ora concentrando sullo sviluppo delle nuove aree acquisite da NRO e sull'avanzamento delle piattaforme Noble, Rusch e Genesis.
Prairie Operating Co. (Nasdaq: PROP) ha anunciado la finalización oportuna de su plataforma de ocho pozos Shelduck South en la Cuenca DJ, con una producción que se espera esté completamente en línea en el primer trimestre de 2025. Este desarrollo, junto con la reciente adquisición de Nickel Road Operating (NRO), marca la primera fase del programa de desarrollo de Prairie para 2025.
La compañía está implementando tecnologías de perforación y finalización electrificadas en Shelduck South, demostrando su compromiso con operaciones sostenibles. Tras este hito, Prairie ahora se centra en el desarrollo de la nueva superficie adquirida de NRO y en avanzar en las plataformas Noble, Rusch y Genesis.
프레리 운영 회사 (Nasdaq: PROP)는 DJ 분지 내의 셸덕 사우스 패드에서 8개 시추구의 적시 완공을 발표했으며, 2025년 1분기에는 생산이 완전히 가동될 것으로 예상됩니다. 이 개발은 최근의 니켈 로드 운영 (NRO) 인수와 함께 프레리의 2025 개발 프로그램의 첫 번째 단계를 의미합니다.
회사는 셸덕 사우스에서 전기화된 시추 및 완공 기술을 적용하고 있으며, 지속 가능한 운영에 대한 헌신을 보여주고 있습니다. 이 이정표 이후, 프레리는 새로 인수한 NRO 지역 개발 및 노블, 루쉬 및 제네시스 패드의 발전에 집중하고 있습니다.
Prairie Operating Co. (Nasdaq: PROP) a annoncé l'achèvement dans les délais de son site à huit puits Shelduck South dans le bassin DJ, avec une production prévue pour être complètement opérationnelle au premier trimestre 2025. Ce développement, associé à la récente acquisition de Nickel Road Operating (NRO), marque la première phase du programme de développement de Prairie pour 2025.
La société met en œuvre des technologies de forage et d'achèvement électrifiées à Shelduck South, démontrant son engagement envers des opérations durables. Après cette étape importante, Prairie se concentre maintenant sur le développement des terrains récemment acquis de NRO et sur l'avancement des sites Noble, Rusch et Genesis.
Prairie Operating Co. (Nasdaq: PROP) hat den fristgerechten Abschluss ihres achtbrunnetigen Shelduck South Pads im DJ-Becken bekannt gegeben, mit einer Produktionsaufnahme, die im ersten Quartal 2025 vollständig online sein soll. Diese Entwicklung, zusammen mit der kürzlichen Übernahme von Nickel Road Operating (NRO), markiert die erste Phase des Entwicklungsprogramms von Prairie für 2025.
Das Unternehmen implementiert elektrifizierte Bohr- und Abschlussverfahren im Shelduck South, was sein Engagement für nachhaltige Betriebe unter Beweis stellt. Nach diesem Meilenstein konzentriert sich Prairie nun auf die Entwicklung der neu erworbenen NRO-Flächen und den Fortschritt der Noble, Rusch und Genesis Pads.
- On-time completion of eight-well Shelduck South pad
- Production expected online in Q1 2025
- Implementation of advanced electrified drilling technologies
- Expansion of operations through NRO acquisition
- None.
Insights
The completion of the eight-well Shelduck South pad marks a crucial operational milestone for Prairie Operating. The DJ Basin, known for its prolific oil and gas reserves, typically yields initial production rates of 500-800 barrels of oil equivalent per day (BOE/d) per well in this region. With eight wells coming online, this development could potentially add 4,000-6,400 BOE/d to Prairie's production portfolio.
The implementation of electrified drilling and completion technologies is particularly noteworthy. This approach typically reduces operational costs by 15-20% compared to traditional diesel-powered operations while significantly lowering emissions. The strategic positioning of the Shelduck pad, combined with the NRO acquisition, suggests a well-planned development sequence that optimizes infrastructure utilization and operational efficiency.
The mention of Noble, Rusch and Genesis pads indicates a robust development pipeline. These multi-well pad developments typically require $8-12 million per well in capital expenditure but offer superior returns in the current commodity price environment.
The successful execution of the Shelduck South project represents a significant value catalyst for Prairie Operating. With a market cap of
The strategic acquisition of NRO assets, coupled with organic development, demonstrates a balanced growth approach. This dual-track strategy typically commands higher valuation multiples in the market. The emphasis on electrified operations also positions Prairie favorably for ESG-focused investors, potentially expanding their investor base and improving access to capital.
HOUSTON, TX, Jan. 10, 2025 (GLOBE NEWSWIRE) -- Prairie Operating Co. (Nasdaq: PROP) (the “Company” or “Prairie”) today announced the on-time completion of its initial eight-well Shelduck South pad in the DJ Basin and is set to have production fully online in the first quarter of 2025. The Shelduck pad, together with recent Nickel Road Operating (NRO) acquisition, represents the first phase in Prairie's 2025 development program.
“The on-time completion of the Shelduck South pad is a testament to the hard work of our team and represents a significant step forward in our growth strategy,” said Edward Kovalik, Chairman and CEO of Prairie Operating Co. “In addition to continuing acquisitions, we are now focused on leveraging this momentum to develop our high-quality assets that position us for long-term value creation.”
The Shelduck South pad, and future developments, utilize cutting-edge, electrified drilling and completion technologies that exemplifies Prairie’s commitment to sustainable and efficient operations. With the Shelduck South development completed, Prairie is now shifting focus to the recently acquired NRO acreage and the development of the Noble, Rusch and Genesis pads. These projects will build on the momentum established at Shelduck South, further expanding Prairie’s production footprint in the DJ Basin.
About Prairie Operating Co.
Prairie Operating Co. is a Houston-based publicly traded independent energy company engaged in the development and acquisition of oil and natural gas resources in the United States. The Company’s assets and operations are concentrated in the oil and liquids-rich regions of the Denver-Julesburg (DJ) Basin, with a primary focus on the Niobrara and Codell formations. The Company is committed to the responsible development of its oil and natural gas resources and is focused on maximizing returns through consistent growth, capital discipline, and sustainable cash flow generation. More information about the Company can be found at www.prairieopco.com.
Forward-Looking Statement
The information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on the Company’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. The Company cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. There may be additional risks not currently known by the Company or that the Company currently believes are immaterial that could cause actual results to differ from those contained in the forward-looking statements. Additional information concerning these and other factors that may impact the Company’s expectations can be found in the Company’s periodic filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 10-K/A filed with the SEC on March 20, 2024, and any subsequently filed Quarterly Report and Current Report on Form 8-K. The Company’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
Investor Relations Contact:
Wobbe Ploegsma
info@prairieopco.com
832.274.3449
FAQ
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