Quarterly ResultMay 14, 2026, 04:23 PM
Prairie Operating Q1 Revenue +500% to $83.4M; Adj. EBITDA +600%
AI Summary
Prairie Operating Co. announced strong financial and operational results for Q1 2026, with total revenue increasing over 500% to $83.4 million and Adjusted EBITDA rising over 600% to $37.2 million. The company achieved significant production growth of 2.1 MMBoe (23,200 Boe/d) and maintained strong operational execution with wells delivered below AFE. Despite the positive operational and revenue growth, the company reported a net loss of $174.4 million attributable to common stockholders. Prairie also made progress on its capital structure by partially refinancing the Series F Preferred Stock and reaffirmed its full-year 2026 guidance.
Key Highlights
- Total production of 2.1 MMBoe, or 23,200 Boe/d, with 72% liquids.
- Total revenue of $83.4 million, an increase of over 500% quarter-over-quarter.
- Adjusted EBITDA of $37.2 million, an increase of over 600% quarter-over-quarter.
- Net loss attributable to common stockholders was $174.4 million, or $2.16 basic loss per share.
- Capital expenditures incurred were $34.1 million.
- Net cash provided by operating activities was $42.3 million.
- Reaffirmed full-year 2026 guidance: Average Daily Production 25,500-27,500 Boe/d, Capital Expenditures $200M-$220M, Adjusted EBITDA $240M-$260M.
- Executed partial refinancing of Series F Preferred Stock, reducing balance and warrant-related dilution.
Price Impact
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