Prairie Reaffirms 2026 Production Target at 23,000-25,000 BOE/d

Prairie Operating Co. kept its 2026 production and capital-spending ranges unchanged Friday, Nov. 13, as CEO Gregory Patton cited inflationary costs and the company posted higher third-quarter sales volumes and revenue.

Patton reaffirmed the target for average 2026 production of 23,000 to 25,000 barrels of oil equivalent per day (BOE/d), alongside a capital-spending range of $180 million to $195 million.

At Sept. 30, Prairie had $7.8 million in cash and $3 million available under its reserve-based credit facility, with $472 million in revolving borrowings under the facility. Management expects liquidity to improve in the fourth quarter. Prairie plans to pay down its RBL. The company is also evaluating a refinancing of its remaining Series F preferred stock.