Prairie Operating Co. Begins Completion of the Opal Coalbank Pad, Acquired from Bayswater
Prairie Operating Co. (PROP) has initiated completions of nine drilled but uncompleted (DUC) wells at the Opal Coalbank pad, acquired from Bayswater. The project targets six wells in the Codell and three in the Niobrara B, with production expected to begin this summer.
The company's 11-well Rusch Pad development is progressing ahead of schedule, with three wells already drilled and cased. The program utilizes Precision's premier rig, operating on multiple forms of electric power for reduced emissions. Drilling completion is expected by early June, with first production anticipated in early August.
Prairie's strategic hedging program currently shows a mark-to-market value of approximately $70 million. The program covers 85% of remaining daily production for 2025 at $68.27/barrel WTI and $4.28/MMBtu Henry Hub, with additional hedges through Q1 2028 at $64.29/barrel WTI and $4.09/MMBtu Henry Hub.
Prairie Operating Co. (PROP) ha avviato le operazioni di completamento di nove pozzi perforati ma non completati (DUC) presso il sito Opal Coalbank, acquisito da Bayswater. Il progetto prevede sei pozzi nella formazione Codell e tre nella Niobrara B, con inizio della produzione previsto per questa estate.
Lo sviluppo del sito Rusch con 11 pozzi procede oltre i tempi previsti, con tre pozzi già perforati e rivestiti. Il programma utilizza la piattaforma di punta di Precision, che funziona con diverse forme di energia elettrica per ridurre le emissioni. Il completamento della perforazione è previsto per inizio giugno, con la prima produzione attesa per inizio agosto.
Il programma strategico di copertura di Prairie mostra attualmente un valore mark-to-market di circa 70 milioni di dollari. Il programma copre l’85% della produzione giornaliera residua per il 2025 a 68,27 dollari al barile WTI e 4,28 dollari per MMBtu Henry Hub, con coperture aggiuntive fino al primo trimestre del 2028 a 64,29 dollari al barile WTI e 4,09 dollari per MMBtu Henry Hub.
Prairie Operating Co. (PROP) ha iniciado la terminación de nueve pozos perforados pero no completados (DUC) en la plataforma Opal Coalbank, adquirida de Bayswater. El proyecto apunta a seis pozos en Codell y tres en Niobrara B, con producción prevista para este verano.
El desarrollo de la plataforma Rusch de 11 pozos avanza antes de lo previsto, con tres pozos ya perforados y revestidos. El programa utiliza la plataforma principal de Precision, que funciona con diversas formas de energía eléctrica para reducir las emisiones. Se espera que la terminación de la perforación concluya a principios de junio, con la primera producción anticipada para principios de agosto.
El programa estratégico de cobertura de Prairie muestra actualmente un valor mark-to-market de aproximadamente 70 millones de dólares. El programa cubre el 85% de la producción diaria restante para 2025 a 68,27 dólares por barril WTI y 4,28 dólares/MMBtu Henry Hub, con coberturas adicionales hasta el primer trimestre de 2028 a 64,29 dólares por barril WTI y 4,09 dólares/MMBtu Henry Hub.
Prairie Operating Co. (PROP)는 Bayswater로부터 인수한 Opal Coalbank 패드에서 시추되었으나 미완성된(듀크, DUC) 9개의 유정 완공 작업을 시작했습니다. 이 프로젝트는 Codell 지역의 6개 유정과 Niobrara B 지역의 3개 유정을 대상으로 하며, 생산은 이번 여름 시작될 예정입니다.
회사의 11개 유정 Rusch 패드 개발은 예정보다 빠르게 진행 중이며, 이미 3개의 유정이 시추 및 케이싱 완료되었습니다. 이 프로그램은 정밀장비(PRECISION)의 최첨단 장비를 사용하며, 다양한 전기 동력 방식을 활용해 배출량을 줄이고 있습니다. 시추 완공은 6월 초까지 완료될 예정이며, 첫 생산은 8월 초로 예상됩니다.
Prairie의 전략적 헤징 프로그램은 현재 약 7천만 달러의 시가 평가 가치를 보이고 있습니다. 이 프로그램은 2025년 남은 일일 생산량의 85%를 WTI 배럴당 68.27달러, Henry Hub MMBtu당 4.28달러에 커버하며, 2028년 1분기까지 추가 헤징도 WTI 배럴당 64.29달러, Henry Hub MMBtu당 4.09달러에 적용됩니다.
Prairie Operating Co. (PROP) a lancé les opérations de complétion de neuf puits forés mais non complétés (DUC) sur le site Opal Coalbank, acquis auprès de Bayswater. Le projet concerne six puits dans la formation Codell et trois dans la Niobrara B, avec une production attendue pour cet été.
Le développement du site Rusch de 11 puits progresse plus rapidement que prévu, avec trois puits déjà forés et tubés. Le programme utilise la plateforme de forage haut de gamme de Precision, fonctionnant avec plusieurs formes d’énergie électrique pour réduire les émissions. La fin du forage est prévue début juin, avec une première production attendue début août.
Le programme stratégique de couverture de Prairie affiche actuellement une valeur mark-to-market d’environ 70 millions de dollars. Ce programme couvre 85 % de la production journalière restante pour 2025 à 68,27 $/baril WTI et 4,28 $/MMBtu Henry Hub, avec des couvertures supplémentaires jusqu’au premier trimestre 2028 à 64,29 $/baril WTI et 4,09 $/MMBtu Henry Hub.
Prairie Operating Co. (PROP) hat mit der Fertigstellung von neun gebohrten, aber noch nicht fertiggestellten (DUC) Bohrungen auf dem Opal Coalbank-Pad begonnen, das von Bayswater übernommen wurde. Das Projekt umfasst sechs Bohrungen im Codell- und drei im Niobrara-B-Formation, mit Produktionsbeginn im Sommer.
Die Entwicklung des 11-Bohrungen umfassenden Rusch-Pads verläuft schneller als geplant, drei Bohrungen sind bereits gebohrt und verrohrt. Das Programm nutzt den führenden Bohrturm von Precision, der mit verschiedenen Formen von elektrischem Strom betrieben wird, um Emissionen zu reduzieren. Die Fertigstellung der Bohrungen wird für Anfang Juni erwartet, die erste Produktion für Anfang August.
Prairies strategisches Absicherungsprogramm weist derzeit einen Marktwert von rund 70 Millionen US-Dollar auf. Das Programm deckt 85 % der verbleibenden täglichen Produktion für 2025 zu 68,27 USD pro Barrel WTI und 4,28 USD/MMBtu Henry Hub ab, mit zusätzlichen Absicherungen bis zum ersten Quartal 2028 zu 64,29 USD pro Barrel WTI und 4,09 USD/MMBtu Henry Hub.
- Hedging program showing ~$70 million mark-to-market value
- 85% of 2025 production hedged at favorable prices
- 11-well Rusch Pad development ahead of schedule
- Nine DUC wells ready for near-term production
- Reduced emissions through electric-powered rig operations
- Significant capital expenditure required for well completions
- High hedging percentage (85%) may limit upside potential if commodity prices rise
Insights
Prairie's dual-pad development and ahead-of-schedule drilling create significant near-term production catalysts supported by $70M hedging protection.
Prairie Operating's commencement of completions on the nine-well Opal Coalbank pad represents a high-return capital allocation strategy. By targeting these drilled but uncompleted wells acquired from Bayswater, the company can accelerate production with substantially lower capital requirements than new drilling. The strategic formation targeting – six wells in the Codell and three in the Niobrara B – demonstrates a technically optimized approach to reservoir development.
The Rusch Pad development is showing notable execution efficiency, with three of eleven planned two-mile lateral wells already drilled and cased, and a fourth currently being drilled. The alternating targeting strategy across Niobrara A, B, C Chalks and Codell Sandstone maximizes resource extraction across the geological column. Precision's premier rig deployment has delivered tangible benefits through faster cycle times while reducing emissions via electric power optionality.
These dual development streams establish clear production catalysts: Opal Coalbank completions beginning in May with production by summer, and Rusch Pad drilling completion by early June with first production expected by early August. For a company with Prairie's
The
Opal Coalbank consists of nine DUC wells on track for production this summer
Previously announced drilling of Rusch Pad ahead of schedule
Recently announced strategic hedging program “in the money” by ~
HOUSTON, TX, April 28, 2025 (GLOBE NEWSWIRE) -- Prairie Operating Co. (Nasdaq: PROP) (the “Company” or “Prairie”) – an independent energy company engaged in the development and acquisition of oil and natural gas resources in the Denver-Julesburg (DJ) Basin – today announced it is beginning completions of nine previously drilled but uncompleted (“DUC”) wells acquired in the recent Bayswater transaction.
"We are encouraged to see continued strong progress across our operational and financial initiatives," said Edward Kovalik, Chairman and CEO of Prairie. "The completion of the Opal Coalbank pad, in combination with the development of the Rusch Pad, exemplifies our commitment to growing production. The well-timed execution of our hedging program, now materially “in the money”, provides the financial stability needed to execute these growth projects while protecting our downside in a volatile market. As we move forward, we remain focused on operational excellence, disciplined capital allocation, and long-term shareholder value creation."
Opal Coalbank Development: Unlocking Near-Term Cash Flow with Future Upside
The Opal Coalbank project spans two distinct DSUs and is currently in partial development, leveraging nine drilled but uncompleted (DUC) wells acquired from Bayswater. This phase of the project is focused on unlocking immediate cash flow through the completion of the existing DUCs—targeting six in the Codell and three in the Niobrara B.
Completions are set to begin in May, using Prairie’s tailored design optimized through multivariate and geo-mechanical analysis. Production is on track to commence by summer. The broader Opal Coalbank project offers significant future upside as Prairie evaluates additional developments across both DSUs.
Rusch Pad: 11-Well Development Ahead of Schedule
On April 2, 2025, Prairie announced the launch of an 11-well development program at the Rusch Pad, utilizing one of Precision premier rigs in the basin. The program includes two-mile lateral wells alternating between the Niobrara A, B, and C Chalks and the Codell Sandstone. As of today, three wells have been successfully drilled and cased, with the fourth currently being drilled. Drilling is expected to be completed by early June, with hydraulic fracturing commencing shortly thereafter and first production anticipated in early August.
The use of Precision’s premier rig has resulted in faster cycle times and significant emissions reductions due to its ability to operate on multiple forms of electric power. This early execution sets the tone for the overall development program, showcasing Prairie’s commitment to operational excellence and cost-efficient production.
Hedging Program Locks in Strong Cash Flow
Prairie’s strategic hedging program, executed prior to the recent pullback in commodity prices, now holds mark-to-market “in the money” value of approximately
The program covers approximately
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 “strive”, “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 filed with the SEC on March 6, 2025, 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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