Prairie Operating Co. ( (PROP) ) has released its Q2 earnings. Here is a breakdown of the information Prairie Operating Co. presented to its investors.
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Prairie Operating Co. is a Houston-based independent energy company focused on the development and acquisition of oil, natural gas, and natural gas liquids in the Denver-Julesburg Basin. The company is known for its strategic acquisitions and operational efficiency in the oil and gas sector.
In its first quarter of 2025, Prairie Operating Co. reported a significant increase in revenue and production, with total revenue reaching $68.1 million, marking a 400% increase from the previous quarter. The company also achieved record production levels of 21,052 barrels of oil equivalent per day, a 540% increase quarter-over-quarter.
Key financial highlights include a net income of $48.5 million attributable to common stockholders, with basic earnings per share at $1.04. The company also reported an adjusted EBITDA of $38.6 million, reflecting a 600% increase quarter-over-quarter. Strategic moves included acquiring over $600 million in oil and gas assets and initiating a hedging program to secure favorable commodity pricing through 2028.
Prairie Operating Co. has laid a strong foundation for future growth through disciplined capital allocation and operational control. The company has expanded its team and increased its portfolio of operated wells, positioning itself for lower cost realizations and continued production growth.
Looking ahead, Prairie Operating Co. is focused on optimizing cost structures and maximizing asset value. With a robust operational platform and strategic acquisitions, the company aims to sustain its growth trajectory and enhance shareholder value.