Prairie Operating Co. Announces $1 Billion Reserve Based Lending Facility with Citibank, N.A.
Prairie Operating Co. (PROP)
NASDAQ:AMEX Investor Relations:
pledgepcorp.com
Company Research
Source: GlobeNewswire
HOUSTON, TX, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Prairie Operating Co. (Nasdaq: PROP) (the “Company” or “Prairie”) today announced it has entered into a multi-year Reserve-Based Lending (“RBL”) credit facility. The RBL facility, arranged with Citibank, N.A. (“Citi”), provides for an initial commitment of $44 million with the ability to expand up to $1 billion following production additions. "This facility enhances our financial flexibility and accelerates our development plans,” said Edward Kovalik, Chairman and CEO of Prairie Operating Co. “The ability to expand further with Citi underscores the strength of our asset base and our disciplined approach to strategically growing the Company.” The initial $44 million commitment from Citi provides Prairie with a trusted, name-brand financial partner, bolstering confidence in executing our strategic objectives. Additionally, the facility’s expansion option offers flexibility to advance the Company’s focus on organic development while
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News
- Prairie Operating Co. Announces $1 Billion Reserve Based Lending Facility with Citibank, N.A. [Yahoo! Finance]Yahoo! Finance
- Prairie Operating Co. To Host Year-End Update Call Highlighting Current Operations and Key Achievements in 2024GlobeNewswire
- Prairie Operating Co. Welcomes Energy Industry Veteran Richard N. Frommer to Its Board of Directors [Yahoo! Finance]Yahoo! Finance
- Prairie Operating Co. Welcomes Energy Industry Veteran Richard N. Frommer to Its Board of DirectorsGlobeNewswire
- Prairie Operating Co. Secures Takeaway and Water Disposal Solutions for Full-Field Development through Strategic Midstream Partnerships [Yahoo! Finance]Yahoo! Finance
PROP
Analyst Actions
- 10/8/24 - Singular Research
PROP
Sec Filings
- 12/19/24 - Form 4
- 12/19/24 - Form 4
- 12/19/24 - Form 8-K
- PROP's page on the SEC website