{"id":810381,"date":"2025-02-07T06:37:48","date_gmt":"2025-02-07T11:37:48","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/prairie-operating-co-announces-public-offering-of-common-stock\/"},"modified":"2025-02-07T06:37:48","modified_gmt":"2025-02-07T11:37:48","slug":"prairie-operating-co-announces-public-offering-of-common-stock","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/prairie-operating-co-announces-public-offering-of-common-stock\/","title":{"rendered":"Prairie Operating Co. Announces Public Offering of Common Stock"},"content":{"rendered":"<div class=\"mw_release\">\n<p>HOUSTON, Texas, Feb.  07, 2025  (GLOBE NEWSWIRE) &#8212; Prairie Operating Co. (\u201cPrairie\u201d or the \u201cCompany\u201d) (Nasdaq: PROP), an independent oil and gas company focused on the acquisition and development of crude oil, natural gas and natural gas liquids, announced today that it has commenced an underwritten public offering of $200 million of shares of its common stock, par value $0.01 (\u201ccommon stock\u201d). The Company expects to grant the underwriters a 30-day option to purchase up to an aggregate value of $30 million of additional shares of the Company\u2019s common stock. <\/p>\n<p>The Company intends to use the net proceeds from the offering to fund a portion of the purchase price for the Company\u2019s proposed acquisition of certain oil and gas assets from Bayswater Exploration and Production and certain of its affiliates (the \u201cBayswater Acquisition\u201d). The Company intends to use the remaining net proceeds from the offering, including any net proceeds from the underwriters\u2019 exercise of their option to purchase additional shares, for other general corporate purposes, which may include advancing the Company\u2019s development and drilling program, repayment of existing indebtedness or financing other potential acquisition opportunities.<\/p>\n<p>Citigroup is acting as lead book-running manager for the offering. KeyBanc Capital Markets Inc., MUFG Securities Americas Inc., Piper Sandler &amp; Co., and Truist Securities, Inc. are also acting as joint book-running managers. Fifth Third Securities, Inc., Clear Street LLC, First Citizens Capital Securities, LLC, Johnson Rice &amp; Company L.L.C., and Pickering Energy Partners are acting as co-managers.<\/p>\n<p>The offering is being made pursuant to a shelf registration statement on Form S-3, including a base prospectus, which was filed with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d) and became effective on December 20, 2024. The preliminary prospectus supplement, and accompanying base prospectus, relating to the offering, and a final prospectus supplement, when available, will be filed with the SEC and will be available on the SEC\u2019s website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Pl4gCpe90wC50OG-qbCDFjtR1EU5QgMbhVAAD5jlWsF73ZorY8fFqKAJePjclrQiK9mJMltuh75VHVuCPQFa8g==\" rel=\"nofollow\" target=\"_blank\">www.sec.gov<\/a>. Copies of the preliminary prospectus supplement, and accompanying base prospectus, relating to the offering, and the final prospectus supplement, when available, may be obtained by sending a request to: Citigroup, c\/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1-800-831-9146; KeyBanc Capital Markets Inc., Attn: Equity Syndicate, 127 Public Square, 7th Floor, Cleveland, OH 44114, telephone: 1-800-859-1783; MUFG Securities Americas Inc., Attention: Equity Capital Markets, 1221 Avenue of the Americas, 6th Floor, New York, New York 10020, telephone: 212-405-7440, email: ECM@us.sc.mufg.jp; Piper Sandler &amp; Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at (800) 747-3924, or by email at prospectus@psc.com; Truist Securities, Inc., Attention: Prospectus Department, 3333 Peachtree Road NE, 9th floor, Atlanta, Georgia 30326, by telephone at (800) 685-4786, or by email at TruistSecurities.prospectus@Truist.com; or by accessing the SEC\u2019s website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Pl4gCpe90wC50OG-qbCDFr3smC9dAvxkhDNDJ_uVabtqnAmD07atkc4lzQ0lzhdbmvP6cTq09Q4IQwBhAV2ukw==\" rel=\"nofollow\" target=\"_blank\">www.sec.gov<\/a>.<\/p>\n<p>This press release does not constitute an offer to sell or the solicitation of an offer to buy the shares of common stock or any other securities, nor shall there be any sale of such shares of common stock or any other securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. <\/p>\n<p>\n        <strong>About Prairie<\/strong>\n      <\/p>\n<p>Houston-based Prairie Operating Co. is an independent oil and gas company focused on the acquisition and development of crude oil, natural gas and natural gas liquids. The Company\u2019s 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.<\/p>\n<p>For more information, visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=fHejZLCIqZLQsgLjReIZ7dY9Cky8S51TOFyiN9kGc0qWc5b04Qmj-oFTSFuLgLPJ162WgHV4kYoZckVp_5jqz1IV4L20mAYOUhUJlDge3K8=\" rel=\"nofollow\" target=\"_blank\">www.prairieopco.com<\/a>.<\/p>\n<p>\n        <strong>Forward-Looking Statements <\/strong>\n      <\/p>\n<p>\n        <em>This press release <\/em><br \/>\n        <em>contains \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d), and Section 21E of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d). All statements, other than statements of historical fact, included in this press release, regarding our strategy, future operations, financial position, estimated reserves, revenues and income or losses, projected costs and capital expenditures, prospects, acquisition opportunities, plans and objectives of management are forward-looking statements. When used in this press release and the documents incorporated by reference herein, the words \u201cplan,\u201d \u201cmay,\u201d \u201cendeavor,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201ccould,\u201d \u201cbelieve,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cproject,\u201d \u201cforecast\u201d and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are (or were when made) based on current expectations and assumptions about future events and are (or were when made) based on currently available information as to the outcome and timing of future events. Forward-looking statements in this press release may include, for example, statements about: the Company\u2019s ability to successfully finance and consummate the Bayswater Acquisition, including the risk that the Company may fail to complete the Bayswater Acquisition on the terms and timing currently contemplated or at all, fail to enter into the New Credit Agreement on expected terms and\/or fail to realize the expected benefits of the Bayswater Acquisition; the Company\u2019s financial performance following the Bayswater Acquisition; this public offering, the timing thereof and the use of proceeds therefrom; estimates of the Company\u2019s oil, natural gas and NGLs reserves; drilling prospects, inventories, projects and programs; estimates of future oil and natural gas production from our oil and gas assets, including estimates of any increases or decreases in production; the availability and adequacy of cash flow to meet the Company\u2019s requirements; financial strategy, liquidity and capital required for the Company\u2019s development program and other capital expenditures; the availability of additional capital for the Company\u2019s operations; changes in the Company\u2019s business and growth strategy, including the Company\u2019s ability to successfully operate and expand its business; the Company\u2019s integration of acquisitions, including the Bayswater Acquisition; changes or developments in applicable laws or regulations, including with respect to taxes; and actions taken or not taken by third-parties, including the Company\u2019s contractors and competitors. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements described under the heading \u201cRisk Factors\u201d in the prospectus supplement, the accompanying base prospectus, the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2023, as amended, our Quarterly Reports on Forms 10-Q filed with the Securities and Exchange Commission and our other filings with the SEC, all of which can be accessed on the SEC\u2019s website at www.sec.gov. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the Company\u2019s control. These risks include, but are not limited to: the Company\u2019s and Bayswater\u2019s ability to satisfy the conditions of the Bayswater Acquisition in a timely manner or at all, including the Company\u2019s ability to successfully finance the Bayswater Acquisition; the Company\u2019s ability to recognize the anticipated benefits of the Bayswater Acquisition, which may be affected by, among other things, competition and the Company\u2019s ability to grow and manage growth profitably following the Bayswater Acquisition; the Company\u2019s ability to fund its development and drilling plan; the possibility that the Company may be unable to achieve expected cash flow, production levels, drilling, operational efficiencies and other anticipated benefits within the expected time-frames, or at all, and to successfully integrate the Bayswater Assets, and\/or any other assets or operations the Company has acquired or may acquire in the future with those of the Company; the Company\u2019s integration of the Bayswater Assets with those of the Company may be more difficult, time-consuming or costly than expected; the Company\u2019s operating costs, customer loss and business disruption may be greater than expected following the Bayswater Acquisition or the public announcements of the Bayswater Acquisition; the Company\u2019s ability to grow its operations, and to fund such operations, on the anticipated timeline or at all; uncertainties inherent in estimating quantities of oil, natural gas and NGL reserves and projecting future rates of production and the amount and timing of development expenditures; commodity price and cost volatility and inflation; the ability to maintain necessary permits and approvals to develop our assets; safety and environmental requirements that may subject the Company to unanticipated liabilities; changes in the regulations governing our business and operations, including the businesses and operations we have acquired or may acquire in the future, such as, but not limited to, those pertaining to the environment, our drilling program and the pricing of our future production; the Company\u2019s success in retaining or recruiting, or changes required in, the Company\u2019s officers, key employees or directors; general economic, financial, legal, political, and business conditions and changes in domestic and foreign markets; the risks related to the growth of the Company\u2019s business; the effects of competition on the Company\u2019s future business; and other factors detailed under the section entitled \u201cRisk Factors\u201d in the Prospectus Supplement and, accompanying base prospectus related to the offering and the periodic filings with the Securities and Exchange Commission. Reserve engineering is a process of estimating underground accumulations of oil, natural gas and NGLs that cannot be measured in an exact way. The accuracy of any reserve estimate depends on the quality of available data, the interpretation of such data and price and cost assumptions made by reserve engineers. In addition, the results of drilling, testing and production activities may justify upward or downward revisions of estimates that were made previously. If significant, such revisions would change the schedule of any further production and development drilling. Accordingly, reserve estimates may differ significantly from the quantities of oil, natural gas and NGLs that are ultimately recovered. Should one or more of the risks or uncertainties described herein or should underlying assumptions prove incorrect, the Company\u2019s actual results and plans could differ materially from those express in any forward-looking statements. All forward-looking statements, expressed or implied, in this press release, are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that the Company or persons acting on the Company\u2019s behalf may issue.<\/em>\n      <\/p>\n<p>\n        <strong>Investor Relations Contact:<\/strong><br \/>\n        <br \/>Wobbe Ploegsma<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=58nZ2rPEYOipqnEWQQeNRcCeJv6AtY2DSIFUvOhJPaFi7o6DPOgSDaHAulSM-QBDHwb20AHhimTaoPN4ufUdGn-VHmTdzr3gz213OppETIM=\" rel=\"nofollow\" target=\"_blank\">info@prairieopco.com<\/a><br \/>832.274.3449<\/p>\n<p>\n        \n      <\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM1NDc3MSM2NzQwNjU4IzUwMDExNzc3Nw==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/ZjhiNGZmNGEtYTBmMi00Y2YxLTg1MGMtMTBkMWE5YjRkMDNmLTUwMDExNzc3Nw==\/tiny\/Prairie-Operating-Co-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>HOUSTON, Texas, Feb. 07, 2025 (GLOBE NEWSWIRE) &#8212; Prairie Operating Co. (\u201cPrairie\u201d or the \u201cCompany\u201d) (Nasdaq: PROP), an independent oil and gas company focused on the acquisition and development of crude oil, natural gas and natural gas liquids, announced today that it has commenced an underwritten public offering of $200 million of shares of its common stock, par value $0.01 (\u201ccommon stock\u201d). The Company expects to grant the underwriters a 30-day option to purchase up to an aggregate value of $30 million of additional shares of the Company\u2019s common stock. The Company intends to use the net proceeds from the offering to fund a portion of the purchase price for the Company\u2019s proposed acquisition of certain oil and gas assets &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/prairie-operating-co-announces-public-offering-of-common-stock\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Prairie Operating Co. Announces Public Offering of Common Stock&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-810381","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Prairie Operating Co. Announces Public Offering of Common Stock - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/prairie-operating-co-announces-public-offering-of-common-stock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prairie Operating Co. Announces Public Offering of Common Stock - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"HOUSTON, Texas, Feb. 07, 2025 (GLOBE NEWSWIRE) &#8212; Prairie Operating Co. (\u201cPrairie\u201d or the \u201cCompany\u201d) (Nasdaq: PROP), an independent oil and gas company focused on the acquisition and development of crude oil, natural gas and natural gas liquids, announced today that it has commenced an underwritten public offering of $200 million of shares of its common stock, par value $0.01 (\u201ccommon stock\u201d). The Company expects to grant the underwriters a 30-day option to purchase up to an aggregate value of $30 million of additional shares of the Company\u2019s common stock. The Company intends to use the net proceeds from the offering to fund a portion of the purchase price for the Company\u2019s proposed acquisition of certain oil and gas assets &hellip; Continue reading &quot;Prairie Operating Co. 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The Company expects to grant the underwriters a 30-day option to purchase up to an aggregate value of $30 million of additional shares of the Company\u2019s common stock. The Company intends to use the net proceeds from the offering to fund a portion of the purchase price for the Company\u2019s proposed acquisition of certain oil and gas assets &hellip; Continue reading \"Prairie Operating Co. 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