Prairie Operating Co. Provides Operations Update
Prairie Operating Co. (NASDAQ:PROP), an energy company focused on the Denver-Julesburg Basin, provided an operational update highlighting significant progress across multiple drilling pads. The Opal/Coalbank pad has exceeded expectations with nine wells achieving average IP30 rates of 525 boepd per well. The company has completed 11 wells on the Rusch pad, targeting multiple Niobrara zones and Codell formation.
Prairie's innovative approach includes their first U-turn wells on the Noble pad, designed to target two Niobrara benches within a single wellbore. The Simpson pad is currently under development with six 2-mile wells planned. The company's 2025 schedule targets 41 total wells to be turned in line, complemented by 32 high-return workovers planned for Q3 and Q4 2025.
Prairie Operating Co. (NASDAQ:PROP), società energetica attiva nel bacino Denver-Julesburg, ha fornito un aggiornamento operativo che evidenzia progressi significativi su più pad di perforazione. Il pad Opal/Coalbank ha superato le aspettative con nove pozzi che registrano tassi medi IP30 di 525 boepd per pozzo. L'azienda ha completato 11 pozzi sul pad Rusch, mirando a più zone Niobrara e alla formazione Codell.
L'approccio innovativo di Prairie comprende i primi pozzi U-turn sul pad Noble, progettati per raggiungere due banchi Niobrara con un unico foro. Il pad Simpson è in sviluppo e prevede sei pozzi da 2 miglia. Il piano 2025 mira a 41 pozzi totali da mettere in produzione, affiancati da 32 interventi di workover ad alto rendimento programmati per il terzo e quarto trimestre 2025.
Prairie Operating Co. (NASDAQ:PROP), una compañía energética centrada en la cuenca Denver-Julesburg, ofreció una actualización operativa que destaca avances importantes en varios pads de perforación. El pad Opal/Coalbank superó las expectativas con nueve pozos que alcanzan tasas IP30 promedio de 525 boepd por pozo. La compañía ha completado 11 pozos en el pad Rusch, orientados a múltiples zonas Niobrara y a la formación Codell.
El enfoque innovador de Prairie incluye sus primeros pozos en U-turn en el pad Noble, diseñados para apuntar a dos bancos Niobrara desde un solo pozo. El pad Simpson está en desarrollo y se planean seis pozos de 2 millas. El calendario de 2025 contempla 41 pozos en total para poner en línea, junto con 32 workovers de alto rendimiento programados para el tercer y cuarto trimestre de 2025.
Prairie Operating Co. (NASDAQ:PROP)는 덴버-줄스버그 분지에 주력하는 에너지 기업으로, 여러 드릴링 패드에서 중요한 진전을 담은 운영 업데이트를 발표했습니다. Opal/Coalbank 패드는 기대를 뛰어넘어 9개 정제공이 평균 IP30 속도 각 525 boepd를 기록했습니다. 회사는 또한 다수의 니오브라라(Niobrara) 층과 코델(Codell) 지층을 대상으로 Rusch 패드에 11개 공을 완료했습니다.
Prairie의 혁신적 접근법에는 단일 유정으로 두 개의 니오브라라 벤치를 겨냥하는 Noble 패드의 첫 U-턴 유정이 포함됩니다. Simpson 패드는 현재 개발 중이며 2마일짜리 유정 6개가 계획되어 있습니다. 2025년 일정은 총 41개 유정을 생산 전환하는 것을 목표로 하며, 2025년 3분기와 4분기에 32건의 고수익 워크오버도 예정되어 있습니다.
Prairie Operating Co. (NASDAQ:PROP), une société énergétique axée sur le bassin de Denver-Julesburg, a publié une mise à jour opérationnelle mettant en avant des progrès significatifs sur plusieurs pads de forage. Le pad Opal/Coalbank a dépassé les attentes avec neuf puits affichant des débits IP30 moyens de 525 boepd par puits. La société a achevé 11 puits sur le pad Rusch, ciblant plusieurs zones Niobrara et la formation Codell.
L'approche innovante de Prairie comprend ses premiers puits en U-turn sur le pad Noble, conçus pour atteindre deux bancs Niobrara depuis un seul forage. Le pad Simpson est en cours de développement avec six puits de 2 miles prévus. Le calendrier 2025 vise 41 puits au total à mettre en production, complété par 32 workovers à haut rendement prévus pour le T3 et le T4 2025.
Prairie Operating Co. (NASDAQ:PROP), ein Energieunternehmen mit Schwerpunkt im Denver-Julesburg-Becken, gab ein Betriebsupdate mit bedeutenden Fortschritten auf mehreren Bohrpads bekannt. Das Opal/Coalbank-Pad übertraf die Erwartungen: neun Bohrungen erreichten durchschnittliche IP30-Raten von 525 boepd pro Bohrung. Das Unternehmen hat 11 Bohrungen auf dem Rusch-Pad abgeschlossen, die mehrere Niobrara-Zonen und die Codell-Formation anvisieren.
Prairies innovativer Ansatz umfasst die ersten U-Turn-Bohrungen auf dem Noble-Pad, ausgelegt, zwei Niobrara-Bänke mit einer einzigen Bohrung zu erreichen. Das Simpson-Pad befindet sich in Entwicklung, geplant sind sechs 2-Meilen-Bohrungen. Der Plan für 2025 sieht insgesamt 41 Bohrungen zur Inbetriebnahme vor, ergänzt durch 32 ertragsstarke Workovers in Q3 und Q4 2025.
- Nine Opal/Coalbank wells outperforming with IP30 rates of 525 boepd per well
- Implementation of cost-efficient U-turn well technology on Noble pad
- Execution of 32 high-return workovers planned for Q3-Q4 2025
- Strong drilling program with 41 wells scheduled for 2025
- Successful integration of acquired Bayswater DUC assets
- Drilling program subject to variation based on asset optimization
- Complex multi-formation development across different pads increases operational complexity
Insights
Prairie reports strong initial production from acquired Opal/Coalbank wells and remains on track for 41 wells in 2025, signaling solid operational execution.
Prairie Operating's operational update reveals several positive developments across their Denver-Julesburg Basin assets. The Opal/Coalbank pad is showing particularly encouraging results, with nine wells acquired as DUCs from the Bayswater transaction now producing at an average
The company has successfully completed drilling and completion operations on the Rusch pad (11 wells) and is finalizing the Noble pad (7 wells), which includes their first U-turn wells - an innovative approach that targets two Niobrara benches within a single wellbore. This technical innovation should deliver meaningful cost efficiencies compared to traditional laterals by reducing surface footprint while maximizing reservoir contact.
What's particularly noteworthy is Prairie's disciplined execution against their drilling schedule, with 41 total wells planned to be turned in line during 2025. The company is also implementing 32 high-return workovers in Q3-Q4, demonstrating a balanced approach between new drilling and enhancing existing well performance.
The diverse targeting across multiple productive horizons (Niobrara A, B, C zones and Codell formation) indicates a thorough understanding of the basin's geology and suggests a robust inventory of drilling locations. The Simpson pad drilling activities and additional 10 new locations planned show pipeline visibility into 2026 production growth.
This operational update signals that Prairie is successfully integrating acquired assets while maintaining drilling momentum - critical factors for an emerging E&P company looking to scale production and cash flow. The focus on asset optimization through gas lift enhancements and workover programs demonstrates a balanced approach to capital allocation between new drilling and maximizing returns from existing infrastructure.
- Recently completed Opal/Coalbank pad outperforming expectations
- Remaining 2025 drilling schedule on track for 41 wells turned in line
Houston, TX, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Prairie Operating Co. (Nasdaq: PROP) (the “Company,” “Prairie,” “we,” “our,” or “us”) – an independent energy company engaged in the development and acquisition of oil, natural gas, and natural gas liquids (“NGL”) resources in the Denver-Julesburg (DJ) Basin – today provided an update on recent operational activities and its 2025 drilling and completion schedule to increase visibility into upcoming operational milestones and expected production catalysts.
OPERATIONS UPDATE
- Opal/Coalbank Pad: Prairie has completed and turned in line (TIL) to sales nine wells that were acquired as Drilled and Uncompleted (DUC) locations from the Bayswater transaction. Initial results have met or exceeded expectations, with an average initial production rate over the first 30 days (IP30) of approximately 525 boepd per well (two-stream, gross).
- Rusch Pad: Prairie has finished the drilling, completion, and drill-out operations on 11 wells, which are now in the process of being turned to sales. These wells targeted multiple horizons, including the Niobrara A, B, and C zones, as well as the Codell formation. The Company will closely monitor initial flowback results and expects these wells to meaningfully contribute to production growth in the second half of 2025.
- Noble Pad: Prairie has finished drilling and completing four 2-mile U-turn wells and three 1-mile lateral wells. These represent the Company’s first U-turn wells, designed to target two benches of the Niobrara within a single wellbore, delivering significant cost efficiencies compared to traditional 1-mile laterals. The pad is currently in the drill-out phase with first production expected in the fourth quarter of 2025.
- Simpson Pad: Prairie, with a Precision rig, is currently drilling and about to total depth the second of six 2-mile initial occupation wells across the Niobrara and Codell formations. Completions and takeaway are expected to be finalized in the fourth quarter of 2025.
“We believe these results underscore the strength of Prairie’s asset base and our ability to rapidly integrate acquired assets to deliver increased production growth, margins and cash flow,” said Edward Kovalik, Chairman and Chief Executive Officer. “Beyond new drilling, overall asset optimization has been a key priority, with the team driving gas lift and pad efficiencies while executing an initial batch of 32 high-return workovers in the third and fourth quarters.”
2025 SCHEDULE
Outlined below is the Company’s 2025 drilling and completions schedule:
| PAD NAME | FORMATION | Q2 2025 | Q3 2025 | Q4 2025 | TOTAL |
| Shelduck | Niobrara | TIL | 8 | ||
| Opal / Coalbank | Codell | Complete + Frac | TIL | 9 | |
| Rusch | Niobrara & Codell | Drill | Complete + Frac + TIL | 11 | |
| Noble | Niobrara & Codell | Drill | Complete + Frac | TIL | 7 |
| Simpson | Niobrara & Codell | Drill + Complete | Frac + TIL | 6 | |
| TOTAL | 41 | ||||
| New Locations | Niobrara & Codell | Drill | 10 | ||
| Workovers | 20 | 12 | 32 |
* Our drilling program may vary from time to time, depending on optimization of our asset base.
Cautionary Statement about Forward-Looking Statements
The information included in this press release 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. These forward-looking statements include, without limitation, statements regarding future financial performance, business strategies, expansion plans, future results of operations, estimated revenues, losses, projected costs, prospects, plans and objectives of management. These forward-looking statements are based on our management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this Press release, words such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “continue,” “project” or the negative of such terms or other similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained herein are based on our current expectations and beliefs concerning future developments and their potential effects on us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.
These risks are not exhaustive. Other sections of this press release could include additional factors that could adversely affect our business and financial performance. Moreover, we operate in a very competitive and rapidly changing environment. New risk factors emerge from time to time, and it is not possible for our management to predict all risk factors nor can we assess the effects of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in, or implied by, any forward-looking statements. Our SEC filings are available publicly on the SEC website at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Accordingly, forward-looking statements in this press release should not be relied upon as representing our views as of any subsequent date, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
All forward-looking statements, expressed or implied, included in this Press release are expressly qualified in their entirety by this cautionary statement.
About Prairie Operating Co.
Prairie Operating Co. is a Houston-based publicly traded independent energy company engaged in the development and acquisition of oil, natural gas, 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, natural gas, 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.
Investor Relations Contact:
Wobbe Ploegsma
info@prairieopco.com
832.274.3449
FAQ
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What is Prairie Operating's (PROP) new U-turn well technology on the Noble pad?
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