Prairie Operating Co. - PROP STOCK NEWS

Prairie Operating Co. (PROP) has released its 2025 guidance, projecting significant growth with expected average daily production of 7,000-8,000 BOEPD, representing a 300% year-over-year increase. The company anticipates capital expenditures of $120-130 million, focusing on high-return drilling opportunities in the DJ Basin.

Financial projections include net income between $69-102 million and Adjusted EBITDA of $100-140 million. The company plans to drill and complete 25-28 wells in 2025. CEO Edward Kovalik highlighted that Prairie's current valuation represents approximately 1x projected 2025 EBITDA, suggesting a potential investment opportunity. The company also plans to pursue additional strategic acquisitions, which could lead to updated guidance.

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.

Pioneer Energy has secured $27 million in DOE funding through four distinct awards. The primary focus is on advancing their Emission Control Treater™ (ECT), a revolutionary zero-emissions well pad production technology that can boost crude yield by 5-10%. Three awards totaling $21 million will support ECT development across different applications, including a $10MM commercial-scale project, a $6MM sour crude processing initiative, and a $5MM marginal wells program.

The ECT technology eliminates routine flaring, removes the need for atmospheric storage tanks, and improves separation efficiency. It features cloud-connected automation for remote monitoring and control, reducing operational costs. The fourth grant, worth $6MM, partners with Emvolon to develop a flare gas to methanol system. All projects will undergo extended field demonstrations, with emissions reduction validation by Colorado School of Mines and Montrose Environmental Group.

Prairie Operating Co. (PROP) has secured a multi-year Reserve-Based Lending (RBL) credit facility with Citibank. The facility provides an initial commitment of $44 million with potential expansion up to $1 billion following production additions. The agreement enhances Prairie's financial flexibility and development capabilities in the DJ Basin, supporting both organic growth and strategic asset acquisitions. Chairman and CEO Edward Kovalik emphasized that the partnership with Citibank validates the company's asset strength and disciplined growth approach.

Prairie Operating Co. (PROP) has announced a year-end update conference call and webcast scheduled for Thursday, December 19, 2024, at 4:30 PM ET. The event will provide insights into the company's operations and key achievements throughout 2024.

Participants can join via telephone by calling 1-877-704-4453 or 1-201-389-0920, or access the webcast through Prairie's website media section. Advanced registration is available, and participants can utilize the Call me™ link for instant telephone access, which becomes active 15 minutes before the start time.

The webcast recording will be available on the company's website for two weeks following the presentation.

Prairie Operating Co. (PROP) announced the appointment of Richard N. Frommer to its Board of Directors as an independent director. Frommer, the former CEO of Great Western Petroleum and current Prairie Advisory Board member, brings over 40 years of oil and gas industry experience. His expertise includes deep knowledge of Colorado's regulatory environment and the Denver-Julesburg Basin. As former Chairman of the Trade Association for the Colorado Oil and Gas Association, Frommer helped shape Colorado's regulatory framework and has a proven track record of building and monetizing multiple billion-dollar oil and gas companies across regions from Canada to the Gulf Coast.

Prairie Operating Co. (PROP) has announced multiple strategic midstream and gathering agreements in the Denver-Julesburg Basin. The partnerships with Rimrock Energy Partners, NGL Energy Partners, and Taproot Energy Partners secure takeaway, processing, sales, and water disposal solutions across the company's 44,000-acre asset base. These agreements include flexible provisions for future production volume increases, ensuring long-term operational reliability and efficient field development while positioning Prairie to benefit from high-grade crude oil production pricing.

Prairie Operating Co. (PROP) has partnered with ProFrac Holding Corp. to deploy an electric frac fleet in Colorado. The initiative features 25 advanced 3000 HHP Single E-Pumps for fully electrified hydraulic fracturing and pump down operations. Operations will begin on Prairie's 8-well Shelduck pad in Weld County. The fleet includes electric Blender units, hydration systems, and chemical additive units powered by natural gas. Two Solar – SMT130 Mobile Gas Turbines, each generating 16.5 MWe ISO, will power the fleet, aiming to meet Colorado's emissions standards and reduce environmental impact.

ProFrac Holding Corp. (NASDAQ: ACDC) has partnered with Prairie Operating Co. to deploy an electric frac fleet in Colorado. The initiative features 25 advanced 3,000 HHP single E-Pumps for fully electrified hydraulic fracturing and pump down operations. Operations will begin on Prairie's 8-well Shelduck pad in Weld County. The fleet includes electric blender units, hydration systems, and chemical additive units powered by natural gas. Power will be supplied by two Solar – SMT130 Mobile Gas Turbines, each generating 16.5 MWe ISO. This collaboration aims to reduce emissions and meet Colorado's environmental standards while enhancing operational efficiency.