Prairie Operating Co.

Prairie Operating Co. is an independent oil and natural gas company focused on acquiring and developing crude oil, natural gas, and natural gas liquids (NGLs). The company's assets and operations are located in the oil region of rural Weld County, Colorado, within the Denver-Julesburg Basin (DJ Basin). Weld County produced 83% of Colorado's oil production as of December 2025. Prairie Operating Co. aims to grow production through drilling and by acquiring assets that meet specific criteria, including producing reserves with opportunities for undeveloped acreage, high rate-of-return drilling locations, strong well-level economics, liquids-rich assets, and accretive valuation. As of December 31, 2025, the company's assets include its Central Weld Assets, comprising approximately 45,000 net leasehold acres on and under approximately 56,200 gross acres, and its Genesis Assets, comprising approximately 23,000 net leasehold acres in, on, and under approximately 42,000 gross acres. The majority of the Central Weld Assets were acquired from Nickel Road Development LLC and Nickel Road Operating LLC in October 2024, from Bayswater Resources, LLC and related entities in March 2025, and from Edge Energy II LLC in July 2025. The majority of the Genesis Assets were acquired in 2023.