EXCLUSIVE: Prairie Expands DJ Basin Footprint With $12.5 Million Edge Energy Deal

Prairie Operating Co PROP on Wednesday announced the acquisition of certain assets from Edge Energy II LLC in an off-market transaction.

The transaction amount was $12.5 million in cash, funded through the company’s credit facility. This resulted in a non-dilutive transaction for shareholders.

Edward Kovalik, Chairman and CEO, said this strategic and highly accretive bolt-on acquisition enhances its footprint in the DJ Basin.

Also Read: Prairie Launches $200 Million Stock Offering To Fund Major Oil Acquisition, Expects 2025 Cash Windfall

The Edge Energy acquisition represents a strategic addition of approximately 11,000 net acres, expanding Prairie’s DJ Basin footprint to approximately 60,000 net acres.

The attractive mix of current production and future development of the Edge Energy assets enhances Prairie’s inventory depth, accelerates near-term development plans, and supports continued cash flow growth, the company said.

The company plans to commence development of the acquired assets in August 2025, starting with the fully permitted Simpson pad. Simultaneously, the company will permit additional PUD locations to enable future development. This acquisition delivers immediate scale, existing production, and a clear path to growth through high-quality operated drilling inventory.

Prairie Operating held $14.97 million in cash and equivalents as of March 31, 2025, according to Benzinga Pro.

Price Action: PROP stock closed higher by 1.50% to $3.04 on Tuesday.

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