Prairie Operating Co (NAS:PROP)

Q1 2026 Prairie Operating Co Earnings Call Transcript

May 15, 2026 / 12:30 PM GMT

Release Date Price: $0.865 (-14.36%)

Transcript 8-K10-Q

Key Points

Positve

Prairie Operating Co (PROP) reported significant production growth with approximately 2.1 million BOE produced in Q1 2026.
The company achieved operational efficiency by bringing new wells online and optimizing existing assets, with early well performance meeting or exceeding expectations.
Significant progress was made in addressing the capital structure, including partial refinancing of the Series F Preferred, reducing potential dilution to common shareholders.
Adjusted EBITDA for the quarter totaled $37.2 million, demonstrating the earnings power of the asset base.
The company maintained a strong emphasis on safety, achieving a 0.0 safety record, reflecting commitment and professionalism.

Negative

Prairie Operating Co (PROP) reported a net loss attributable to common stockholders of approximately $174.4 million, primarily due to non-cash impacts related to derivative market-to-market adjustments.
The oil cut decreased in Q1, partly due to production shut-ins, affecting overall production metrics.
Lease operating expenses were relatively high at $7.11 per BOE, impacting cost efficiency.
The company faces challenges in simplifying its capital structure, with ongoing efforts required to address the remaining Series F Preferred.
Capital expenditures were lower than expected in Q1, indicating potential variability in spending patterns throughout the year.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PROP.OQ - Prairie Operating Co
Q1 2026 Prairie Operating Co Earnings Call
May 15, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, and welcome to the Prairie Operating Company First Quarter 2026 Earnings Conference Call. Today's call is being recorded. At this time, I'd like to turn the call over to Wabi Plugsma, Vice President of Investor Relations and Capital Markets. Please go ahead.

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Unidentified_2 [2]
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Thank you, operator, and good morning, everyone.

Thank you for joining Prairie Operating Company's first quarter 2026 earnings call.

Before we provide our prepared remarks, I would like to remind all participants that our comments today will

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