Former Great Western Petroleum CEO and Energy Industry Veteran, Richard N. Frommer, Joins Prairie Operating Co. Advisory Board

Rhea-AI Summary

Prairie Operating Co. announces the addition of Richard N. Frommer, former CEO of Great Western Petroleum, to its Advisory Board. Frommer brings over 40 years of oil and gas industry experience and a successful track record of building billion-dollar companies. He also played a key role in shaping the regulatory framework for oil and gas producers in Colorado. Prairie sees Frommer's addition as a valuable asset and a commitment to excellence.

HOUSTON, TX, Nov. 06, 2023 (GLOBE NEWSWIRE) -- Prairie Operating Co. (OTCQB: CRKRD; the “Company” or “Prairie”) is pleased to announce that Richard N. Frommer, former Great Western Petroleum Chief Executive Officer and energy industry veteran, has joined its Advisory Board. 

Mr. Frommer brings over four (4) decades of oil and gas industry experience to Prairie’s Advisory Board, having led and collaborated with board of directors and management teams across various regions, spanning from Canada to the Gulf Coast. Throughout his career, Mr. Frommer has demonstrated a successful track record of building and monetizing multiple billion-dollar oil and gas companies.  In addition, as the Chairman of the Trade Association for the Colorado Oil and Gas Association, Mr. Frommer was instrumental in shaping the regulatory framework for oil and gas producers in the State of Colorado, with a focus on producing the “cleanest molecule”.

“Throughout his distinguished career, Mr. Frommer has demonstrated exceptional leadership and a proven track record in driving transformative outcomes for oil and gas organizations.” stated Ed Kovalik, Chairman and CEO. “His understanding of our industry, and building operations in Colorado, has positioned him as a valuable asset to Prairie”.

Mr. Frommer added, "I am excited to be joining Prairie's Advisory Board. The Company has already hit several key milestones and is very well positioned to become a leader in the energy industry. I look forward to collaborating with the team to enhance its industry presence and ensure ongoing success.”

The addition of Mr. Frommer to the Advisory Board underscores the Company's commitment to excellence and ability to strengthen its position amongst its peers.

About Richard N. Frommer

Mr. Frommer currently serves as a Board Member of Pioneer Energy, a designer and original equipment manufacturer of novel technologies that decarbonize the oil and gas industry. Prior to that, Mr. Frommer served as President and Chief Executive Officer of Great Western Petroleum from February 2013 to October 2021. During his tenure as President and CEO, Mr. Frommer developed a horizontal drilling program, significantly grew the acreage position, increased EBITDA from $12MM to over $500MM and grew production from 1,000 BOEPD to over 60,000 BOEPD before merging the Company with PDC Energy in a transaction valuing the Company at $1.5BN. Mr. Frommer has over 40 years of experience in the oil and natural gas industry. From May 2002 to November 2012, Mr. Frommer was Senior Vice President in the Rocky Mountain division at Samson Resources Company until its sale to KKR & Co., L.P. Prior to Mr. Frommer’s time at Samson Resources Company, Mr. Frommer spent four years at HS Resources Inc. as New Ventures Manager where he was responsible for entrance into new areas and plays in Colorado, Wyoming, and Louisiana. He attended advanced oil and gas management courses at Southern Methodist University and earned his Bachelor of Arts in Earth Sciences from New York State University College at Oneonta. He is a Wyoming Certified Professional Geologist.

About Prairie Operating Co.

Prairie Operating Co. (f/k/a Creek Road Miners, Inc.) is a publicly-traded company engaged in the development, exploration, and production of oil, natural gas, and natural gas liquids with operations focused on unconventional oil and natural gas reservoirs located in Colorado focused on the Niobrara and Codell formations. The Company is also a crypto company focused on cryptocurrency mining. The Company is dedicated to developing affordable, reliable energy to meet the world’s growing demand while continuing to protect the environment. To learn more, visit www.prairieopco.com

Forward-Looking Statements

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. These risks include, but are not limited to, general economic, financial, legal, political, and business conditions and changes in domestic and foreign markets; the ability of the Company to successfully develop its assets in Weld County, Colorado; the failure to realize the anticipated benefits of the merger with Prairie Operating Co., LLC; the risks related to the growth of the Company’s business and the timing of expected business milestones; and the effects of competition on the Company’s future business. Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. 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 registration statement on Form S-1/A filed by the Company on November 6, 2023, and in the Company’s periodic filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 10-K filed with the SEC on March 31, 2023, and any subsequently filed Quarterly Report on Form 10-Q, including the Company’s most recent Form 10-Q filed on August 14, 2023. The Company’s SEC filings are available publicly on the SEC’s website at www.sec.gov 

Investor Relations Contact:
Wobbe Ploegsma
wp@prairieopco.com 

FAQ

Who has joined Prairie Operating Co.'s Advisory Board?

Richard N. Frommer, former CEO of Great Western Petroleum.

What is Richard N. Frommer's experience in the oil and gas industry?

He has over 40 years of experience and has led and collaborated with board of directors and management teams across various regions.

What role did Richard N. Frommer play in Colorado's oil and gas industry?

He was the Chairman of the Trade Association for the Colorado Oil and Gas Association and was instrumental in shaping the regulatory framework for oil and gas producers in the State of Colorado.

What is Prairie Operating Co.'s view on Richard N. Frommer's addition?

Prairie sees Frommer's addition as a valuable asset and a commitment to excellence.

What are Prairie Operating Co.'s goals with Richard N. Frommer on the Advisory Board?

To enhance its industry presence and ensure ongoing success.

What is Prairie Operating Co.'s stock symbol?

OTCQB: CRKRD.