Prairie Operating Co. Secures Takeaway and Water Disposal Solutions for Full-Field Development through Strategic Midstream Partnerships
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) ha annunciato numerosi accordi strategici nel settore midstream e di raccolta nella Basina di Denver-Julesburg. Le collaborazioni con Rimrock Energy Partners, NGL Energy Partners e Taproot Energy Partners garantiscono soluzioni per il trasporto, il trattamento, le vendite e lo smaltimento dell'acqua su una base patrimoniale di 44.000 acri dell'azienda. Questi accordi includono disposizioni flessibili per futuri aumenti di volume di produzione, assicurando affidabilità operativa a lungo termine e uno sviluppo efficiente del campo, mentre posizionano Prairie per beneficiare dei prezzi elevati della produzione di petrolio greggio di alta qualità.
Prairie Operating Co. (PROP) ha anunciado múltiples acuerdos estratégicos de midstream y recolección en la Cuenca de Denver-Julesburg. Las alianzas con Rimrock Energy Partners, NGL Energy Partners y Taproot Energy Partners aseguran soluciones de transporte, procesamiento, ventas y eliminación de agua en los 44,000 acres de activos de la compañía. Estos acuerdos incluyen disposiciones flexibles para futuros aumentos en el volumen de producción, asegurando una confiabilidad operativa a largo plazo y un desarrollo eficiente del campo, al tiempo que posicionan a Prairie para beneficiarse de los precios elevados de producción de petróleo crudo de alta calidad.
프레리 오퍼레이팅 컴퍼니 (PROP)는 덴버-줄스버그 분지에서 여러 전략적 미드스트림 및 수집 계약을 발표했습니다. 림록 에너지 파트너스, NGL 에너지 파트너스, 탭루트 에너지 파트너스와의 파트너십은 회사의 44,000에이커 자산 기반에 걸쳐 운송, 처리, 판매 및 물 처리 솔루션을 확보합니다. 이러한 계약에는 향후 생산량 증가를 위한 유연한 조항이 포함되어 있어 장기적인 운영 신뢰성과 효율적인 현장 개발을 보장하고, 프레리가 고품질 원유 생산 가격의 혜택을 누릴 수 있도록 합니다.
Prairie Operating Co. (PROP) a annoncé plusieurs accords stratégiques de midstream et de collecte dans le bassin de Denver-Julesburg. Les partenariats avec Rimrock Energy Partners, NGL Energy Partners et Taproot Energy Partners garantissent des solutions de transport, de traitement, de vente et d'élimination de l'eau sur la base d'actifs de 44 000 acres de l'entreprise. Ces accords comprennent des dispositions flexibles pour des augmentations futures du volume de production, assurant une fiabilité opérationnelle à long terme et un développement efficace des champs tout en positionnant Prairie pour bénéficier des prix élevés de la production de pétrole brut de haute qualité.
Prairie Operating Co. (PROP) hat mehrere strategische Midstream- und Sammelverträge im Denver-Julesburg-Becken angekündigt. Die Partnerschaften mit Rimrock Energy Partners, NGL Energy Partners und Taproot Energy Partners sichern Transport-, Verarbeitungs-, Verkaufs- und Wasserentsorgungslösungen über die 44.000 Acre umfassende Vermögensbasis des Unternehmens. Diese Vereinbarungen beinhalten flexible Bestimmungen für zukünftige Produktionsmengenerhöhungen und gewährleisten langfristige betriebliche Zuverlässigkeit und effiziente Felderentwicklung, während sie Prairie in die Lage versetzen, von den hohen Preisen der Rohölproduktion zu profitieren.
- Secured comprehensive midstream infrastructure access for 44,000-acre asset development
- Strategic partnerships ensure scalable takeaway capacity for future production growth
- Agreements position company to capture premium pricing for high-grade crude oil
- None.
Insights
The midstream agreements mark a important operational milestone for Prairie Operating, establishing essential infrastructure support for their DJ Basin development. The partnerships with Rimrock Energy, NGL Energy and Taproot Energy provide comprehensive solutions for oil transportation, processing and water disposal across their 44,000-acre asset base.
These agreements eliminate potential bottlenecks in production growth and reduce operational risks by securing guaranteed takeaway capacity. The flexible volume provisions are particularly strategic, allowing Prairie to scale operations without renegotiating terms. This infrastructure backbone is fundamental for maintaining consistent production levels and maximizing revenue potential from their crude oil production.
The partnerships should translate to more predictable operating costs and improved margins through efficient transportation and disposal solutions. This positions Prairie favorably for executing their development strategy while maintaining operational control and cost efficiency.
HOUSTON, TX, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Prairie Operating Co. (Nasdaq: PROP) (the “Company” or “Prairie”) today announced the signing of multiple midstream and gathering agreements with leading industry partners in the Denver-Julesburg (DJ) Basin. These strategic partnerships secure takeaway, processing, sales, and water disposal solutions across our acreage, ensuring escalating marketing and takeaway capacity for the comprehensive development of the Company’s 44,000-acre asset base.
“Securing these midstream agreements is a critical step in our growth strategy,” stated Edward Kovalik, Chairman and CEO of Prairie Operating Co. “These strategic partnerships allow us to efficiently manage production, transportation, and water disposal needs across our asset base while ensuring seamless takeaway capacity for our DJ Basin development.”
Through agreements with Rimrock Energy Partners LLC, NGL Energy Partners LP, and Taproot Energy Partners LLC, Prairie secures access to essential pipeline transportation and ensures long-term operational reliability. These comprehensive marketing and takeaway agreements position Prairie to realize commodity price benefits associated with high grade crude oil production while maximizing production efficiency.
In addition, these agreements encompass flexible provisions to accommodate planned future increases in production volumes, further aligning with the Company’s growth strategy and commitment to efficient field development.
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
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