Prairie Operating Co
NASDAQ:PROP
Prairie Operating Co
Prairie Operating Co is a US-based company operating in Software industry. The company is headquartered in Houston, Texas and currently employs 6 full-time employees. The company went IPO on 2008-09-04. Prairie Operating Co. is an independent energy company engaged in oil, natural gas and natural gas liquids (NGLs) development, exploration and production (E&P). The firm is also a crypto company focused on cryptocurrency mining. The firm operates through two segments: E&P and Cryptocurrency Mining. The E&P segment is engaged in the development, exploration and production of oil, natural gas, and NGLs. This segment consists of certain oil and gas leasehold interests with no existing oil and gas production. Its activities are focused on obtaining requisite permits to begin drilling wells. The Cryptocurrency Mining segment uses special cryptocurrency mining computers (miners) to solve complex cryptographic algorithms to support the Bitcoin blockchain. Miners measure their processing power, which is known as hashing power, in terms of the number of hashing algorithms solved (hashes) per second, which is the miner’s hash rate.
Prairie Operating Co is a US-based company operating in Software industry. The company is headquartered in Houston, Texas and currently employs 6 full-time employees. The company went IPO on 2008-09-04. Prairie Operating Co. is an independent energy company engaged in oil, natural gas and natural gas liquids (NGLs) development, exploration and production (E&P). The firm is also a crypto company focused on cryptocurrency mining. The firm operates through two segments: E&P and Cryptocurrency Mining. The E&P segment is engaged in the development, exploration and production of oil, natural gas, and NGLs. This segment consists of certain oil and gas leasehold interests with no existing oil and gas production. Its activities are focused on obtaining requisite permits to begin drilling wells. The Cryptocurrency Mining segment uses special cryptocurrency mining computers (miners) to solve complex cryptographic algorithms to support the Bitcoin blockchain. Miners measure their processing power, which is known as hashing power, in terms of the number of hashing algorithms solved (hashes) per second, which is the miner’s hash rate.
Strong Production Growth: Prairie’s current production rate has increased to about 27,000 BOE per day, up sharply from the third quarter average of 23,029 BOE per day, reflecting successful ramp-up efforts.
Financial Results: The company delivered $77.7 million in revenue, $1.3 million in net income from continued operations, and $56.3 million in adjusted EBITDA, with EBITDA up over 45% quarter-over-quarter.
Operational Execution: Prairie completed the integration of the Bayswater assets smoothly, brought multiple new wells online, and expanded its DJ Basin footprint with disciplined bolt-on acquisitions.
Reaffirmed Guidance: Management reaffirmed full-year guidance for production (24,000–26,000 BOE/d), capital expenditures ($260–280 million), and adjusted EBITDA ($240–260 million).
Cost Efficiency: The company continues to drive down well costs, targeting $5 million per well, and is seeing strong returns from its ongoing workover and optimization programs.
Liquidity and Balance Sheet: Liquidity stood at $68.6 million as of quarter end, and Prairie's $1 billion credit facility provides significant financial flexibility.
Active M&A Pipeline: Prairie remains focused on disciplined, accretive M&A, with recent bolt-on deals executed at attractive valuations and a supportive bank group.
