Prairie Operating Co. Announces the Launch of Its Development Program
09 Julho 2024 - 8:30AM
Prairie Operating Co. (Nasdaq: PROP) (the “Company” or “Prairie”)
today announced plans to commence its initial drilling program in
August 2024, starting with an 8-well pad on the recently acquired
bolt-on acquisition, “Shelduck South”.
The Shelduck South development will consist of
eight two-mile lateral wells across 1,280 mineral acres, targeting
the Niobrara B and C formations. The Company has contracted a
drilling rig from Precision Drilling and secured various oil field
service providers to perform all drilling and completion
operations. The Precision drilling rig is capable of operating on
electric line power and is equipped with natural gas generators
with battery assist to minimize emissions.
"We are excited to commence our drilling program
at Shelduck South in August," stated Ed Kovalik, Chairman and CEO
of Prairie Operating Co. "This development not only underscores our
strategic growth initiatives but also aligns with Prairie's and the
state of Colorado's commitment to minimizing emissions in the
development of its oil and gas resources.”
Prairie anticipates the wells will be drilled,
completed, and turned to production in Q4 2024.
About Prairie Operating Co.
Prairie Operating Co. is a Houston-based
publicly traded independent energy company engaged in the
development and acquisition of proven, producing 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 Statements
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 filed with the SEC on March
19, 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
Ploegsmawp@prairieopco.com 832.274.3449
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