Prairie Operating provides operations update

Prairie Operating (PROP) provided an update on recent operational activities and its 2025 drilling and completion schedule to increase visibility into upcoming operational milestones and expected production catalysts. OPERATIONS UPDATE: Opal/Coalbank Pad: Prairie has completed and turned in line to sales nine wells that were acquired as Drilled and Uncompleted locations from the Bayswater transaction. Initial results have met or exceeded expectations, with an average initial production rate over the first 30 days of approximately 525 boepd per well. Rusch Pad: Prairie has finished the drilling, completion, and drill-out operations on 11 wells, which are now in the process of being turned to sales. These wells targeted multiple horizons, including the Niobrara A, B, and C zones, as well as the Codell formation. The Company will closely monitor initial flowback results and expects these wells to meaningfully contribute to production growth in the second half of 2025. Noble Pad: Prairie has finished drilling and completing four 2-mile U-turn wells and three 1-mile lateral wells. These represent the Company’s first U-turn wells, designed to target two benches of the Niobrara within a single wellbore, delivering significant cost efficiencies compared to traditional 1-mile laterals. The pad is currently in the drill-out phase with first production expected in the fourth quarter of 2025. Simpson Pad: Prairie, with a Precision rig, is currently drilling and about to total depth the second of six 2-mile initial occupation wells across the Niobrara and Codell formations. Completions and takeaway are expected to be finalized in the fourth quarter of 2025. “We believe these results underscore the strength of Prairie’s asset base and our ability to rapidly integrate acquired assets to deliver increased production growth, margins and cash flow,” said Edward Kovalik, Chairman and Chief Executive Officer. “Beyond new drilling, overall asset optimization has been a key priority, with the team driving gas lift and pad efficiencies while executing an initial batch of 32 high-return workovers in the third and fourth quarters.”