Prairie Operating Co. drilling program finds over 285 MMboe in possible reserves in Colorado assets

World Oil Staff August 21, 2023

(WO) – Prairie Operating Co. announced the results of a comprehensive independent third-party evaluation of its non-producing position in Weld County, Colorado.

The reserve report reflects the quality and scale of the company’s 37,000 gross acre position, establishing a possibles reserves basis of approximately 285.3 MMboe with a PV10 value of roughly $2.4 billion. The reserves are supported by 412 qualified locations across both the Niobrara and Codell formations that are part of the company’s future development plan.

Prairie Operating Co. has hundreds of additional locations beyond this initial 5-year development program that are not currently included in the report. As the acreage position is further delineated through internal development and offset drilling activity, the company anticipates material increases to its proven oil and gas reserves and PV10 valuation.

"This independent third-party reserve report firmly validates the strength and scalability of our asset base.” stated, Ed Kovalik, Chairman and CEO. “We are confident our extensive drilling inventory will be a driving factor in creating consistent, long-term value for our shareholders.”

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