Prairie Records Daily Production of 21,866 Barrels of Oil Equivalent in Second Quarter
Key Facts
Prairie Operating reported average production of 21,866 barrels of oil equivalent per day in the second quarter of 2026, according to a company filing with the U.S. Securities and Exchange Commission. Production totaled 1.990 million barrels of oil equivalent during the quarter, the filing said. Oil accounted for about 50% of the mix, while liquids made up about 72%. The company also completed drilling operations at the Burnett pad during the quarter. These figures represent total company production, while figures for any individual pad or well cover a different scope.
The company reported second-quarter revenue of 98.9 million dollars, up about 45% year over year, according to the filing. Prairie set its 2026 average daily production guidance at 23,000 to 25,000 barrels of oil equivalent. It also set annual capital expenditures at 185.0 million to 195.0 million dollars and adjusted earnings before interest, taxes, depreciation and amortization at 180.0 million to 190.0 million dollars. During the quarter, the drilling program covered 12 wells, including two in the Codell formation and 10 in the Niobrara formation. The company said eight wells were drilled in a single operation and that all 12 wells were completed below the approved estimated cost.
Prairie said drilling was temporarily halted between the Opal and Coolbank pads and Burnett to meet seasonal restrictions related to wildlife park management in Colorado. Burnett is part of the Genesis I plan, which the company described in an earlier filing as covering up to 72 wells across two pads. The plan was designed to include 18 three-mile horizontal wells and 54 two-mile wells. On reserves, the company's total proved reserves rose to 121.119 million barrels of oil equivalent at the end of 2025, from 26.119 million at the start of the year. In 2025, the company recorded 95.344 million barrels of oil equivalent in acquisition additions, along with revisions to previously estimated reserves that added 6.404 million barrels of oil equivalent.
In its year-end 2025 assessment, net proved oil reserves totaled 60.0306 million barrels, including 30.7246 million barrels of proved undeveloped reserves. These figures place the development inventory in the context of the company's operations in the Denver-Julesburg Basin. The annual filing showed proved reserves rising from 26.119 million barrels of oil equivalent in 2024 to 121.119 million in 2025. The increase reflects the impact of acquisitions and revisions to previous estimates, according to the company's table. The 2026 guidance sets full-year ranges for production, investment and adjusted earnings.