Prairie Operating Co., LLC (NASDAQ:PROP) is among the 11 Fastest Growing Penny Stocks to Buy Right Now.
On March 5, 2026, Prairie Operating Co., LLC (NASDAQ:PROP) reported the results of its independent year-end proved reserves evaluation for its oil and natural gas properties. The assessment was prepared by Cawley, Gillespie & Associates with an effective date of December 31, 2025, and was conducted under SEC guidelines, including Item 1202(a)(8) of Regulation S-K. Prairie reported total proved reserves of about 121 million barrels of oil equivalent, including 60 million barrels of oil, 195 billion cubic feet of natural gas, and 29 million barrels of natural gas liquids. Of the total, about 68 MMBoe were classified as proved developed reserves and 53 MMBoe as proved undeveloped. Operated and non-operated production at year-end 2025 was approximately 28,000 barrels of oil equivalent per day.
Using SEC pricing as of December 31, 2025 of $65.34 per barrel of oil and $3.387 per MMBtu of natural gas, and adjusting for transportation and other differentials, Prairie estimated net realized prices of $62.99 per barrel of oil, $0.797 per Mcf of natural gas, and $18.56 per barrel of natural gas liquids over the life of its proved properties. Estimated future net cash flows before federal income taxes tied to proved reserves totaled about $2.41 billion, with a discounted present value of roughly $1.22 billion using a 10% annual discount rate. About $860 million, or 71%, of that value is attributed to proved developed reserves.
On March 3, 2026, Prairie Operating announced leadership changes, including the voluntary resignation of CEO and Chairman Edward Kovalik and the retirement of President and Director Gary Hanna. The board appointed director Richard Frommer as Interim President and CEO while a search for a permanent chief executive is underway, and named Erik Thoresen as Chairman of the Board. The company said the search process will include both internal and external candidates.
Prairie Operating Co., LLC (NASDAQ:PROP) is an oil and gas production company focused on energy development.
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