Prairie Operating Co. Completes Acquisition of Oil-Weighted DJ Basin Assets from Nickel Road Operating
Prairie Operating Co. (PROP)
NASDAQ:AMEX Investor Relations:
pledgepcorp.com
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Source: GlobeNewswire
HOUSTON, Texas, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Prairie Operating Co. (Nasdaq: PROP) (the “Company” or “Prairie”) today announced the closing of its previously announced $84.5 million acquisition of the oil-weighted assets of Nickel Road Operating, LLC ("NRO"), a portfolio company of Vortus Investment Advisors, LLC. The NRO acquisition was funded with the proceeds from a private placement of Common Stock, an Equity Facility, and cash on hand. Located in Weld County, Colorado, the newly acquired assets will add 5,592 net leasehold acres, 89 approved well permits, and 26 operated horizontal wells providing accretive cashflow to Prairie’s existing DJ Basin operations. “This transaction is a major step forward in our growth strategy and an example of delivering long-term value for our shareholders,” stated Edward Kovalik, Chairman and CEO of the Company. “With our Shelduck South development now drilling well four of the eight-well pad, we expect the production
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- 10/8/24 - Singular Research
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Sec Filings
- 11/13/24 - Form 4
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- 11/1/24 - Form 8-K
- PROP's page on the SEC website