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Prairie Operating Co. - PROP STOCK NEWS

Welcome to our dedicated page for Prairie Operating Co. news (Ticker: PROP), a resource for investors and traders seeking the latest updates and insights on Prairie Operating Co. stock.

Prairie Operating Co. Common Stock (symbol: PROP) represents a dynamic player in the realm of cryptocurrency mining. The company specializes in developing and operating large-scale bitcoin mining facilities that leverage natural gas to power their operations. Their innovative approach not only capitalizes on the burgeoning demand for cryptocurrencies but also utilizes natural gas, contributing to energy efficiency and sustainability.

Core Business: Prairie Operating Co. generates the bulk of its revenue through cryptocurrency, specifically by mining bitcoin. The company's operations are designed to maximize efficiency and output, ensuring high profitability and growth potential.

Recent Achievements: Prairie Operating Co. has recently acquired significant assets in the Denver Julesburg (DJ) Basin. These acquisitions include an expansive 1,280-acre drillable spacing unit (DSU) and eight fully permitted proven undeveloped (PUD) drilling locations. These assets not only add substantial value to the company's portfolio but also enhance its operational capacity and financial metrics.

Current Projects: The DJ Basin acquisitions are expected to be immediately accretive to key financial metrics, adding 3,370 barrels of oil equivalent per day (Boepd) and a proven PV10 value of over $250 million. Additionally, the company has secured 62 permitted PUDs, further solidifying its position in the market.

Prairie Operating Co. is devoted to leveraging its advanced mining capabilities and strategic acquisitions to drive sustained growth and shareholder value. Their focus on utilizing natural gas as an energy source not only enhances their operational efficiency but also aligns with broader environmental goals.

For the latest updates, news, and investor relations information, shareholders and interested parties can reach out to Wobbe Ploegsma at wp@prairieopco.com or visit the company's official website.

News

Prairie Operating Co. to Ring the Nasdaq Stock Market Closing Bell on Thursday, March 7, 2024

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Prairie Operating Co. (Nasdaq: PROP) will ring the Nasdaq Stock Market Closing Bell to celebrate its recent listing on the exchange. The event, scheduled for March 7, 2024, highlights the company's achievements and investor support, with live broadcast details available online.
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Prairie Operating Co. Expands Core Asset Base

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Prairie Operating Co. (Nasdaq: PROP) has acquired a 1,280 acre drillable spacing unit (DSU) and eight fully permitted proven undeveloped (PUD) drilling locations in the DJ Basin for $900,000. This strategic acquisition adds over 2.6 MMboe in reserves and approximately $40 million in PV10 value to Prairie's existing DJ Basin portfolio. The PUDs are liquids rich and near existing midstream infrastructure, contributing to the company's disciplined and opportunistic growth. An independent, third-party reserve report by Cawley, Gillespie & Associates, Inc. (CG&A) confirms the value of the newly acquired assets.
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Former Chairman of MGM Worldwide Television Group, Mark Burnett, Joins Prairie Operating Co. Advisory Board

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Prairie Operating Co. (PROP) announced the addition of Mark Burnett, former Chairman of MGM Worldwide Television Group, to its Advisory Board. Burnett is a highly successful figure in television programming, having produced popular reality series like 'Survivor', 'The Apprentice', 'Shark Tank', and 'The Voice'. His extensive experience and business accomplishments make him a valuable addition to Prairie's Advisory Board, contributing to the company's growth strategy in the energy space.
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Prairie Operating Announces Acquisition of Producing E&P Assets

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Prairie Operating Co. (Nasdaq: PROP) has entered into a definitive agreement to acquire the assets of Nickel Road Operating LLC for a total consideration of $94.5 million, adding 3,370 Boepd, proven PV10 of over $250MM, and 62 permitted PUDs to its existing Denver Julesburg Basin Portfolio. The transaction is expected to be immediately accretive to key financial metrics including production, reserves, and free cash flow. The acquisition strategically expands Prairie's core operating area, increasing inventory of high rate-of-return drilling locations, and providing additional flexibility to the 2024 drill schedule.
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Prairie Operating Co. Announces Uplisting to The Nasdaq Capital Market

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Prairie Operating Co. (PROP) has received approval to list its common stock on the Nasdaq Capital Market stock exchange, expected to commence on December 28, 2023. The uplisting to Nasdaq is expected to provide greater long-term value for stockholders and increase liquidity in trading volume. This move represents a significant milestone for the company, showcasing its accomplishments and attracting a broader investor base.
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Prairie Operating Co. To Host Year-End Update Call Highlighting Key Achievements and Corporate Strategy

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Prairie Operating Co. (OTCQB: PROP) will host a conference call and simultaneous webcast to discuss the Company's transformative growth and future corporate strategy on December 12, 2023. The webcast will provide an update on key achievements in 2023 and opportunities for investors.
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Prairie Operating Co. Submits Weld County Oil and Gas Location Assessment and Begins Permit Application Process for Second Oil and Gas Development Plan

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Prairie Operating Co. (PROP) has submitted its Weld County Oil and Gas Location Assessment for sites within the Genesis Oil and Gas Development Plan and has begun the application process for its second OGDP. The company anticipates WOGLA hearings in Weld County and the OGDP hearing in front of the Colorado ECMC during the first quarter of 2024. Prairie has also commenced work on its second OGDP, targeting a first quarter 2024 submittal for the second OGDP with the Colorado ECMC. The company's current permitting strategy highlights its commitment to maintaining a robust permitted drilling inventory while offering flexibility in scheduling.
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Prairie Operating Co. Announces Proceeds of $12 Million from Warrant Exercise

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Prairie Operating Co. (OTCQB: PROP) has received $12 million from the exercise of warrants by Watermill Capital Partners, providing additional funds for continued growth and expansion. The exercise of in-the-money warrants at an attractive cost of capital strengthens Prairie's balance sheet and increases financial flexibility. The company intends to use the proceeds for general working capital purposes, including drilling activity and opportunistic acquisitions.
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Prairie Operating Co. Begins Trading Monday, November 13 Under New Ticker Symbol “PROP”

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Prairie Operating Co. (OTCQB: CRKRD) to Commence Trading under New Ticker Symbol 'PROP'
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Former Great Western Petroleum CEO and Energy Industry Veteran, Richard N. Frommer, Joins Prairie Operating Co. Advisory Board

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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.
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FAQ

What is the current stock price of Prairie Operating Co. (PROP)?

The current stock price of Prairie Operating Co. (PROP) is $9.049 as of November 8, 2024.

What is the market cap of Prairie Operating Co. (PROP)?

The market cap of Prairie Operating Co. (PROP) is approximately 206.4M.

What does Prairie Operating Co. do?

Prairie Operating Co. develops and operates large-scale bitcoin mining facilities powered by natural gas.

How does Prairie Operating Co. generate revenue?

The company generates revenue primarily through mining bitcoin.

What are the recent achievements of Prairie Operating Co.?

The company has recently acquired a 1,280-acre drillable spacing unit and eight fully permitted PUD drilling locations in the DJ Basin.

What is the significance of the DJ Basin acquisition for Prairie Operating Co.?

The acquisition adds substantial value, including 3,370 Boepd and a proven PV10 value of over $250 million, enhancing the company's financial metrics.

What energy source does Prairie Operating Co. use for its mining operations?

The company uses natural gas to power its bitcoin mining operations.

How can I get in touch with Prairie Operating Co. for investor relations?

You can contact Wobbe Ploegsma at wp@prairieopco.com or call 832-274-3449.

What is the primary focus of Prairie Operating Co.'s projects?

The company focuses on maximizing efficiency and output in bitcoin mining and leveraging strategic acquisitions for growth.

Where can I find the latest news about Prairie Operating Co.?

The latest news and updates can be found on the company's official website and by contacting their investor relations department.

Why is natural gas important for Prairie Operating Co.'s operations?

Using natural gas enhances the company's operational efficiency and aligns with environmental sustainability goals.

What are the financial benefits of the recent acquisitions?

The recent acquisitions are expected to be immediately accretive to key financial metrics, adding significant production capacity and proven reserves.

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Prairie Operating Co.

Nasdaq:PROP

PROP Rankings

#3854 Ranked by Market Cap
N/A Ranked by Dividends

PROP Stock Data

206.38M
22.92M
66.04%
17.5%
1.05%
Oil & Gas E&P
Crude Petroleum & Natural Gas
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United States of America
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