HOUSTON, Texas, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Prairie Operating Co. (Nasdaq: PROP) (the "Company" or "Prairie") today announced that Watermill Capital Partners and its affiliates exercised Series E B Warrants (the "Warrants") to purchase 4,000,000 shares of common stock of the Company, generating $24 million in proceeds. This exercise follows Watermill Capital Partners' $12 million warrant exercise in November 2023, highlighting their continued confidence and support for Prairie's growth strategy. With ...

Financial Performance - For the three months ended June 30, 2024, the company reported a loss from operations of $8,568,797, an increase of $5.7 million compared to the same period in 2023 [103]. - Total operating costs and expenses for the six months ended June 30, 2024, were $16,613,438, reflecting an increase of $13.7 million compared to the same period in 2023 [103]. - General and administrative expenses for the three months ended June 30, 2024, increased by $5.7 million compared to the same period in 2023, primarily due to employee and benefit expenses [104]. - The net cash used in operating activities totaled $8.4 million for the six months ended June 30, 2024, an increase of $3.4 million from $5.1 million in the same period of 2023 [117]. - The company had a net loss of $17.6 million for the six months ended June 30, 2024, with an accumulated deficit of $96.4 million [120]. Acquisition and Investments - The company entered into a securities purchase agreement for a total of $20.0 million, which includes 39,614 shares of common stock and 20,000 shares of Series E Preferred Stock [95]. - The NRO Acquisition for the Central Weld Assets is valued at $94.5 million, consisting of $83.0 million in cash and $11.5 million in deferred cash payments [100]. - The company anticipates closing the NRO Acquisition by August 15, 2024, subject to securing necessary financing [101]. - The company expects to raise approximately $74.0 million in cash to close the NRO Acquisition, but currently lacks sufficient cash or committed capital for this purpose [112]. Cash Flow and Liquidity - As of June 30, 2024, the company reported a working capital deficit of $7.9 million, compared to a working capital of $8.1 million as of December 31, 2023 [117]. - Cash and cash equivalents decreased from $13.0 million as of December 31, 2023, to $2.2 million as of June 30, 2024 [117]. - The company anticipates that its cash balance will decline until financing is obtained through public or private capital markets [120]. Operational Updates - The company plans to commence its initial drilling program in August 2024, starting with an 8-well pad targeting the Niobrara B and C formations [99]. - As of June 30, 2024, the company has not had any drilling or completion operations on its Genesis Assets, which include 24,351 net mineral acres [98]. - The company divested all cryptocurrency mining assets in January 2024, with a sale consideration of $1.0 million in cash and $1.0 million in deferred cash payments [102]. - The company recognized a $1.0 million loss on the sale of cryptocurrency mining equipment during the six months ended June 30, 2024 [110]. - For the six months ended June 30, 2024, the net loss from discontinued operations decreased by $15.8 million compared to the same period in 2023, primarily due to the completion of the Crypto Sale in January 2024 [110]. Interest and Income - Interest income for the three months ended June 30, 2024, increased to $55,139, up from $43,037 in the same period in 2023 [105]. - Net cash used in investing activities increased to $11.8 million for the six months ended June 30, 2024, compared to $3.3 million in the same period of 2023 [118]. Funding Strategy - The company plans to fund its business and strategic plans with cash on hand and proceeds from warrant exercises, with expectations of $24.0 million from common stock warrants [121].

HOUSTON, Texas, July 09, 2024 (GLOBE NEWSWIRE) -- Prairie Operating Co. (NASDAQ:PROP) (the "Company" or "Prairie") today announced plans to commence its initial drilling program in August 2024, starting with an 8-well pad on the recently acquired bolt-on acquisition, "Shelduck South". "We are excited to commence our drilling program at Shelduck South in August," stated Ed Kovalik, Chairman and CEO of Prairie Operating Co. "This development not only underscores our strategic growth initiatives but also align ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2024 FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) For the transition period from _____________ to _____________ Commission File No. 000-33383 Prairie Operating Co. (Exact name of registrant as specified in its charter) Delaware 98-0357690 (S ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission File Number 001-41895 Prairie Operating Co. (Exact name of registrant as specified in its charter) (State or other jurisdiction o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File No. 000-33383 Prairie Operating Co. (Exact name of registrant as specified in its charter) Delaware 98-035769 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File No. 000-33383 Prairie Operating Co. (Exact name of registrant as specified in its charter) Delaware 98-0357690 (St ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File No. 000-33383 Prairie Operating Co. (Exact name of registrant as specified in its charter) Delaware 98-0357690 (S ...

FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the fiscal year ended: December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File No. 000-33383 CREEK ROAD MINERS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdict ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File No. 000-33383 CREEK ROAD MINERS, INC. (Exact name of registrant as specified in its charter) Delaware 98-0357 ...