Prairie Operating Co
prairieopco.comWhat Do They Do?
Produces and sells crude oil, natural gas and natural gas liquids to purchasers, and acquires and develops oil and gas properties in Colorado.
10-K for FY2025, filed Mar 31, 2026The Company’s Reportable Segment produces and sells crude oil, natural gas, and NGL volumes, which is reported as oil, natural gas, and NGL…View ↗
Prairie Operating Co. (the “Company,” “we,” “our” or “us”) is an independent oil and natural gas company focused on the acquisition and…View ↗
We closed the Bayswater Acquisition in March 2025 and fully took over operations of the assets acquired in the Bayswater Acquisition in the…View ↗
How Do They Make Money?
The company earns sale proceeds when produced volumes are delivered to purchasers. Oil is sold at a specified index price; natural gas and NGL proceeds are based on processing contracts.
10-K for FY2025, filed Mar 31, 2026The Company recognizes revenue from the sales of crude oil, natural gas, and NGLs at the point that control of the produced oil, natural…View ↗
Oil revenue contracts. The majority of the Company’s oil revenue contracts are structured so that the Company delivers production at the…View ↗
Natural gas and NGLs revenue contracts. Under the Company’s natural gas processing contracts, the Company delivers natural gas to a…View ↗
$241.6M
-
10-K for FY2025, filed Mar 31, 2026
$241.6M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Crude Oil Sales
Sold outright
10-K for FY2025, filed Mar 31, 2026 |
84% |
Crude Oil Sales, FY2025
$204M Sources
|
Sold outright |
|
Natural Gas Sales
Sold outright
|
3.9% |
Natural Gas Sales, FY2025
$9.5M Sources
|
Sold outright |
|
NGL Sales
Sold outright
10-K for FY2025, filed Mar 31, 2026 |
12% |
NGL Sales, FY2025
$28.1M Sources
|
Sold outright |
Who Are Their Customers?
The company sells its production to purchasers; natural gas and NGL volumes are delivered to midstream processing entities, while oil purchasers take custody at the agreed delivery point.
10-K for FY2025, filed Mar 31, 2026
Do Revenues Turn Into Profits?
Yes. It kept 13 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Mar 31, 2026
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 14, 2026
$109MView ↗
- ▲ +206%
- vs $35.7M in Q2 FY2025
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Aug 17, 2026
Prairie revised 2026 production and Adjusted EBITDA guidance.
The announcement set new ranges for average daily production, capital spending and Adjusted EBITDA.
Sources
8-K, filed Aug 17, 2026
Adjusting 2026 GuidanceView ↗
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Jul 9, 2026
Nasdaq notified Prairie it was below the minimum bid-price requirement.
Its shares continued trading while Prairie received an initial compliance period to regain the required price.
Sources
8-K, filed Jul 9, 2026
On July 2, 2026, Prairie Operating Co. (“Prairie”) received a letter (the “Minimum Bid Price Notice”) from the Nasdaq Listing…View ↗
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Jun 25, 2026
Prairie appointed Gregory Patton CEO and Michael Shelly CFO.
Sources
8-K, filed Jun 25, 2026
On June 23, 2026, the Board of Directors (the “Board”) of Prairie Operating Co. (the “Company”) appointed (i) Gregory S. Patton, the…View ↗
Growing. Revenue grew 653.4x in 4 years, from $369.8K in FY2021 to $241.6M in FY2025, about 406% a year.
From Bitcoin mining to oil and gas
The company moved from earning Bitcoin through mining to acquiring and developing crude oil, natural gas and NGL resources in Colorado.
10-K for FY2022, filed Mar 31, 2023 10-K for FY2025, filed Mar 31, 2026We generate substantially all our revenue through cryptocurrency we earn through our mining activities. We have historically mined and held…View ↗
Prairie Operating Co. (the “Company,” “we,” “our” or “us”) is an independent oil and natural gas company focused on the acquisition and…View ↗
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