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Prairie Operating Co. Spuds its First Well at Shelduck South in the DJ Basin

By: Prairie Operating Co. via GlobeNewswire

September 05, 2024 at 07:30 AM EDT

HOUSTON, TX, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Prairie Operating Co. (Nasdaq: PROP) (the “Company” or “Prairie”) today announced the spud of Shelduck South 8E5NCM with Precision E-Drilling Rig (“E-rig”) 461 in Weld County, Colorado.

The Shelduck South development will encompass eight two-mile lateral wells alternating between the Niobrara B and C Chalks. Drilling of all eight wells is expected to be completed by late October. Hydraulic fracturing is anticipated to commence in early November with production beginning by late December. Consistent with the Company's commitment to minimizing environmental impacts, Prairie will utilize Precision’s E-rig 461, powered by natural gas generators with battery backup, and expects to fully electrify the Shelduck South production facilities by line power.

The Shelduck South development, part of Prairie’s Genesis Bolt-on Assets, encompasses approximately 1,280 mineral acres. The project marks the commencement of Prairie’s development program and expected production growth.

About Prairie Operating Co.

Prairie Operating Co. is a Houston-based publicly traded independent energy company engaged in the development and acquisition of oil and natural gas resources in the United States. The Company’s assets and operations are concentrated in the oil and liquids-rich regions of the Denver-Julesburg (DJ) Basin, with a primary focus on the Niobrara and Codell formations. The Company is committed to the responsible development of its oil and natural gas resources and is focused on maximizing returns through consistent growth, capital discipline, and sustainable cash flow generation.

More information about the Company can be found at www.prairieopco.com.

Forward-Looking Statement

The information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on the Company’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. The Company cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. There may be additional risks not currently known by the Company or that the Company currently believes are immaterial that could cause actual results to differ from those contained in the forward-looking statements. Additional information concerning these and other factors that may impact the Company’s expectations can be found in the Company’s periodic filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 10-K/A filed with the SEC on March 20, 2024, and any subsequently filed Quarterly Report and Current Report on Form 8-K. The Company’s SEC filings are available publicly on the SEC’s website at www.sec.gov.

Investor Relations Contact:
Wobbe Ploegsma
wp@prairieopco.com
832.274.3449