Prairie Operating closes acquisition of Nickel Road Operating

Prairie Operating announced the closing of its previously announced $84.5M acquisition of the oil-weighted assets of Nickel Road Operating, or NRO, a portfolio company of Vortus Investment Advisors. 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. Piper Sandler and Clear Street acted as Co-lead placement agents with Pickering Energy Partners and Johnson Rice & Company acting as placement agents. Vinson & Elkins is serving as legal counsel to the Company.