Watching Prairie Operating Co.? See every signal: funding, hires, M&A, contracts, sentiment.
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Prairie Operating Co. is executing an active drilling program in the DJ Basin (Colorado) with multiple pads (Blehm/Schneider, Elder East/West, Opal Coalbank, Burnett, Castor) coming online through 2026, supporting a large $185-195 million capex budget. Disclosure controls were deemed effective and there are no material legal proceedings, but the filing lacks detailed financial statements (revenue, income, debt, liquidity) needed to fully assess financial health, and a new risk factor was added referencing unspecified additional risks beyond the 10-K.
Red Flags Detected (4)
Large capital expenditure guidance ($185-195 million) with $132.6 million already spent and $12.4 million in accrued/payable, raising questions about funding sources and liquidity
New/additional risk factor referenced in Part II Item 1A without full text disclosed in this excerpt, suggesting emerging risk not previously disclosed
Initial production rates appear to decline across sequential pads (700 Boe/d, 915 Boe/d, then 450 Boe/d at Opal Coalbank), which could indicate well performance variability or diminishing returns
1 more red flag detected
Key Takeaways
Company operates ~68,500 net acres in Weld County, Colorado (DJ Basin), a historically productive and low-breakeven oil region
Multiple drilling pads are sequentially coming online in 2026, indicating active development pace
3 more takeaways
Filing Overview
What This Means
Quarterly Report: Interim filing with unaudited financial data for the quarter.