Prairie Operating Co., Houston, plans to begin development later this year of assets newly acquired from Edge Energy II LLC in a $12.5-million cash deal.
From Edge Energy, Prairie Operating agreed to acquire about 11,000 net acres (~88% working interest), expanding its Denver-Julesburg (DJ) basin footprint to about 60,000 net acres. The assets are a mix of current production (about 190 boe/d from 47 operated and non-operated PDP wells) and future development, Prairie Operating said in a release July 2.
“With a high working interest, established cash flow, and development-ready drilling locations, this transaction aligns with our capital allocation strategy and adds near-term value and long-term inventory,” said Edward Kovalik, chairman and chief executive officer.
Prairie Operating expects to begin development of the acquired assets in August 2025, starting with the fully permitted Simpson pad, while also beginning permitting additional PUD locations, it said. Eight permits are approved, and eight additional permits are in process.
