{"id":858399,"date":"2025-06-09T07:33:37","date_gmt":"2025-06-09T11:33:37","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/prairie-operating-co-reaffirms-1-billion-reserve-based-lending-facility-with-citibank-n-a-adds-bank-of-america-n-a-and-west-texas-national-bank-to-syndicate\/"},"modified":"2025-06-09T07:33:37","modified_gmt":"2025-06-09T11:33:37","slug":"prairie-operating-co-reaffirms-1-billion-reserve-based-lending-facility-with-citibank-n-a-adds-bank-of-america-n-a-and-west-texas-national-bank-to-syndicate","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/prairie-operating-co-reaffirms-1-billion-reserve-based-lending-facility-with-citibank-n-a-adds-bank-of-america-n-a-and-west-texas-national-bank-to-syndicate\/","title":{"rendered":"Prairie Operating Co. Reaffirms $1 Billion Reserve Based Lending Facility with Citibank, N.A. Adds Bank of America, N.A. and West Texas National Bank to Syndicate"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">HOUSTON, TX, June  09, 2025  (GLOBE NEWSWIRE) &#8212; Prairie Operating Co. (Nasdaq: PROP) (the \u201cCompany\u201d or \u201cPrairie\u201d), an independent energy company engaged in the development and acquisition of oil and natural gas resources in the Denver-Julesburg (DJ) Basin, today announced the reaffirmation of its multi-year Reserve-Based Lending (\u201cRBL\u201d) credit facility with Citibank, N.A., its lead arranger.<\/p>\n<p align=\"justify\">Following its semi-annual redetermination, the Company\u2019s reserve-based credit facility was reaffirmed with a borrowing base of $475 million, a maximum facility size of $1.0 billion, and a maturity date of March 26, 2029. <\/p>\n<p align=\"justify\">\u201cThe reaffirmation of our borrowing base, along with the addition of Bank of America and West Texas National Bank to our syndicate, underscores the confidence our lenders have in the strength of our asset base and execution strategy,\u201d said Edward Kovalik, Chairman and Chief Executive Officer. \u201cThis facility enhances our financial flexibility and supports our ongoing development activity and pursuit of accretive growth opportunities in the DJ Basin.\u201d<\/p>\n<p align=\"justify\">In conjunction with the semi-annual redetermination, Bank of America, N.A. and West Texas National Bank have joined the lending syndicate, which includes Citibank, N.A., KeyBank National Association, MUFG Bank, Ltd., Truist Bank, UMB Bank, N.A., and Macquarie Bank Limited, further expanding Prairie\u2019s banking relationships and strengthening its access to capital.<\/p>\n<p>\n        <b>About Prairie Operating Co.<\/b>\n      <\/p>\n<p align=\"justify\">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\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. More information about the Company can be found at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=gwuwBpiVUVrd2DL2upMg61tSJYl_vT4vAtPffQBsqIYW0XafztKypKDjavisMbu6UskJu3yXq8UzVQCtadWsjVcm8858SG1X1Z3ANXI5jlM=\" rel=\"nofollow\" target=\"_blank\">www.prairieopco.com.<\/a><\/p>\n<p align=\"justify\">\n        <b>Cautionary Statement about Forward-Looking Statements<\/b>\n      <\/p>\n<p align=\"justify\">The information included herein and in any oral statements made in connection herewith include \u201cforward-looking statements\u201d 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 \u201ccould,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cmay,\u201d \u201cbelieve,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cproject,\u201d 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\u2019s 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\u2019s expectations can be found in the Company\u2019s periodic filings with the Securities and Exchange Commission (the \u201cSEC\u201d), including the Company\u2019s Annual Report on Form 10-K filed with the SEC on March 6, 2025, and any subsequently filed Quarterly Report and Current Report on Form 8-K. The Company\u2019s SEC filings are available publicly on the SEC\u2019s website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=WSQ3IWBKhbDVZNIpPWAAGyiCiKGy44fAr5Qsiqf_ZvzqE_w_C0N-mxgYKaVdMC9qqkNL8Mrsi8OcRGWQZBNrhg==\" rel=\"nofollow\" target=\"_blank\">www.sec.gov<\/a>.\u00a0<\/p>\n<p align=\"justify\">\n        <b>Investor Relations Contact:<\/b>\n      <\/p>\n<p align=\"justify\">Wobbe Ploegsma<br \/>info@prairieopco.com<br \/>832.274.3449<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQ2NTA0NiM2OTgwNjM0IzUwMDExNzc3Nw==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/ZTk0YjhlYmYtYWJmZS00NjViLWIxMWYtY2NjYWI2MjRjMTBiLTUwMDExNzc3Ny0yMDI1LTA2LTA5LWVu\/tiny\/Prairie-Operating-Co-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>HOUSTON, TX, June 09, 2025 (GLOBE NEWSWIRE) &#8212; Prairie Operating Co. (Nasdaq: PROP) (the \u201cCompany\u201d or \u201cPrairie\u201d), an independent energy company engaged in the development and acquisition of oil and natural gas resources in the Denver-Julesburg (DJ) Basin, today announced the reaffirmation of its multi-year Reserve-Based Lending (\u201cRBL\u201d) credit facility with Citibank, N.A., its lead arranger. Following its semi-annual redetermination, the Company\u2019s reserve-based credit facility was reaffirmed with a borrowing base of $475 million, a maximum facility size of $1.0 billion, and a maturity date of March 26, 2029. \u201cThe reaffirmation of our borrowing base, along with the addition of Bank of America and West Texas National Bank to our syndicate, underscores the confidence our lenders have in the strength &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/prairie-operating-co-reaffirms-1-billion-reserve-based-lending-facility-with-citibank-n-a-adds-bank-of-america-n-a-and-west-texas-national-bank-to-syndicate\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Prairie Operating Co. Reaffirms $1 Billion Reserve Based Lending Facility with Citibank, N.A. Adds Bank of America, N.A. and West Texas National Bank to Syndicate&#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-858399","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Prairie Operating Co. Reaffirms $1 Billion Reserve Based Lending Facility with Citibank, N.A. Adds Bank of America, N.A. and West Texas National Bank to Syndicate - 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-reaffirms-1-billion-reserve-based-lending-facility-with-citibank-n-a-adds-bank-of-america-n-a-and-west-texas-national-bank-to-syndicate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prairie Operating Co. Reaffirms $1 Billion Reserve Based Lending Facility with Citibank, N.A. Adds Bank of America, N.A. and West Texas National Bank to Syndicate - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"HOUSTON, TX, June 09, 2025 (GLOBE NEWSWIRE) &#8212; Prairie Operating Co. (Nasdaq: PROP) (the \u201cCompany\u201d or \u201cPrairie\u201d), an independent energy company engaged in the development and acquisition of oil and natural gas resources in the Denver-Julesburg (DJ) Basin, today announced the reaffirmation of its multi-year Reserve-Based Lending (\u201cRBL\u201d) credit facility with Citibank, N.A., its lead arranger. Following its semi-annual redetermination, the Company\u2019s reserve-based credit facility was reaffirmed with a borrowing base of $475 million, a maximum facility size of $1.0 billion, and a maturity date of March 26, 2029. \u201cThe reaffirmation of our borrowing base, along with the addition of Bank of America and West Texas National Bank to our syndicate, underscores the confidence our lenders have in the strength &hellip; Continue reading &quot;Prairie Operating Co. Reaffirms $1 Billion Reserve Based Lending Facility with Citibank, N.A. Adds Bank of America, N.A. and West Texas National Bank to Syndicate&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/prairie-operating-co-reaffirms-1-billion-reserve-based-lending-facility-with-citibank-n-a-adds-bank-of-america-n-a-and-west-texas-national-bank-to-syndicate\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-09T11:33:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQ2NTA0NiM2OTgwNjM0IzUwMDExNzc3Nw==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/prairie-operating-co-reaffirms-1-billion-reserve-based-lending-facility-with-citibank-n-a-adds-bank-of-america-n-a-and-west-texas-national-bank-to-syndicate\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/prairie-operating-co-reaffirms-1-billion-reserve-based-lending-facility-with-citibank-n-a-adds-bank-of-america-n-a-and-west-texas-national-bank-to-syndicate\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Prairie Operating Co. Reaffirms $1 Billion Reserve Based Lending Facility with Citibank, N.A. 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Reaffirms $1 Billion Reserve Based Lending Facility with Citibank, N.A. Adds Bank of America, N.A. and West Texas National Bank to Syndicate - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/prairie-operating-co-reaffirms-1-billion-reserve-based-lending-facility-with-citibank-n-a-adds-bank-of-america-n-a-and-west-texas-national-bank-to-syndicate\/","og_locale":"en_US","og_type":"article","og_title":"Prairie Operating Co. Reaffirms $1 Billion Reserve Based Lending Facility with Citibank, N.A. Adds Bank of America, N.A. and West Texas National Bank to Syndicate - Market Newsdesk","og_description":"HOUSTON, TX, June 09, 2025 (GLOBE NEWSWIRE) &#8212; Prairie Operating Co. (Nasdaq: PROP) (the \u201cCompany\u201d or \u201cPrairie\u201d), an independent energy company engaged in the development and acquisition of oil and natural gas resources in the Denver-Julesburg (DJ) Basin, today announced the reaffirmation of its multi-year Reserve-Based Lending (\u201cRBL\u201d) credit facility with Citibank, N.A., its lead arranger. Following its semi-annual redetermination, the Company\u2019s reserve-based credit facility was reaffirmed with a borrowing base of $475 million, a maximum facility size of $1.0 billion, and a maturity date of March 26, 2029. \u201cThe reaffirmation of our borrowing base, along with the addition of Bank of America and West Texas National Bank to our syndicate, underscores the confidence our lenders have in the strength &hellip; Continue reading \"Prairie Operating Co. Reaffirms $1 Billion Reserve Based Lending Facility with Citibank, N.A. Adds Bank of America, N.A. and West Texas National Bank to Syndicate\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/prairie-operating-co-reaffirms-1-billion-reserve-based-lending-facility-with-citibank-n-a-adds-bank-of-america-n-a-and-west-texas-national-bank-to-syndicate\/","og_site_name":"Market Newsdesk","article_published_time":"2025-06-09T11:33:37+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQ2NTA0NiM2OTgwNjM0IzUwMDExNzc3Nw==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/prairie-operating-co-reaffirms-1-billion-reserve-based-lending-facility-with-citibank-n-a-adds-bank-of-america-n-a-and-west-texas-national-bank-to-syndicate\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/prairie-operating-co-reaffirms-1-billion-reserve-based-lending-facility-with-citibank-n-a-adds-bank-of-america-n-a-and-west-texas-national-bank-to-syndicate\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Prairie Operating Co. 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