Prairie Operating Co. Reports 121 MMBoe in Proved Reserves, 28,000 Boe/d Exit Rate

Event summary

  • Prairie Operating Co. reported total proved reserves of 121 MMBoe as of year-end 2025, with a PV-10 value of $1,220 million at SEC pricing.
  • Exit rate production stood at approximately 28,000 Boe/d, reflecting development activity during the year.
  • Proved developed reserves accounted for 68 MMBoe, while proved undeveloped reserves were 53 MMBoe.
  • SEC pricing as of December 31, 2025, was $65.34 per barrel of oil and $3.387 per MMBtu of natural gas.
  • The evaluation was conducted by Cawley, Gillespie & Associates, Inc., in accordance with SEC guidelines.

The big picture

Prairie Operating Co.'s year-end 2025 proved reserves evaluation underscores the scale and quality of its asset base in the Denver-Julesburg (DJ) Basin. The substantial proved developed foundation and multi-year inventory position the company to optimize its capital structure amid volatile energy markets. The strategic focus on the Niobrara and Codell formations aligns with broader industry trends toward liquids-rich basins, highlighting Prairie's commitment to consistent growth and capital discipline.

What we're watching

Asset Optimization
How Prairie will leverage its proved developed reserves to optimize capital structure and deliver long-term value.
Production Growth
Whether the company can sustain its exit rate production of 28,000 Boe/d through continued development activity.
Market Dynamics
The impact of SEC pricing adjustments on the company's future net cash flows and PV-10 value.

Related topics

Natural Gas Oil