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Acquisition of Producing E&P Assets – Prairie Operating Co

Prairie Operating Co · Jan 1, 2024 · 10 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Acquisition of Producing E&P Assets – Prairie Operating Co – slide 1
    Prairie Operating Acquisition of Producing E&P Assets JANUARY 2024 NASDAQ: PROP
  2. Acquisition of Producing E&P Assets – Prairie Operating Co – slide 2
    DISCLAIMER The information provided throughout this presentation is based on Cawley, Gillespie & Associates (CG&A) reserve report using SEC pricing as of December 31, 2023, Nickel Road Operating LLC (NRO) provided lease operating…
  3. Acquisition of Producing E&P Assets – Prairie Operating Co – slide 3
    ACCELERATING COMPANYS VISION Building an Unlevered, High Growth E&P Company Acquisition of Producing E&P Assets Accelerates Prairies Vision Fully Engineered Proven Reserves 250mm in PV10 value 22,000 Mboe 45,000 Acres in Weld…
  4. Acquisition of Producing E&P Assets – Prairie Operating Co – slide 4
    ACQUISITION OVERVIEW Prairie Operating Co. has signed asset purchase agreement (APA) to acquire assets of Nickel Road Operating (NRO) for 94.5mm Effective date of February 1, 2024, with expected closing in first half of 2024;…
  5. Acquisition of Producing E&P Assets – Prairie Operating Co – slide 5
    ASSET OVERVIEW Concentrated Portfolio Across High Return Play With Deep Undeveloped Drilling Inventory 5,526 net leasehold & mineral acres with 3,370 Boepd (1) (84% liquids / 66% oil 91% PDP) flowing from 26 operated horizontal wells…
  6. Acquisition of Producing E&P Assets – Prairie Operating Co – slide 6
    INVENTORY ACROSS MULTIPLE BENCHES Provides Immediate Running Room Across Multiple Benches Company PUDs DJ Basin Targets Undeveloped Permitted PUD Breakdown 19 20 62 16 7 Nio A Nio B Nio C Codell Total Note: NRO…
  7. Acquisition of Producing E&P Assets – Prairie Operating Co – slide 7
    DRILL READY PERMITTED PUD INVENTORY Compelling Well Level Returns Offer Additional Upside Through Field Level Improvements & Optimization CONSERVATIVE TYPE CURVE EMPLOYED (1)(2) IRRs Strip Pricing (%) NROs Utilization of a…
  8. Acquisition of Producing E&P Assets – Prairie Operating Co – slide 8
    ATTRACTIVE IMPLIED VALUATION METRICS Anchored By PDP, Permit Inventory, & Significant Free Cash Flow Transaction compares favorably to recent DJ Basin transactions 30,000 40,000 35,000 25,000 30,000 20,000 / Boepd…
  9. Acquisition of Producing E&P Assets – Prairie Operating Co – slide 9
    SIGNIFICANT ASSET ACCRETION Immediate Value Created Through Transaction Private-to-Public Arbitrage Creates Immediate Value Accretion (1) 6.0x 1.7x 2.7x 4.0x 5.0x 5.0x 1.0x 1.0x Multiple of EBITDA 4.0x 3.0x 1.7x…
  10. Acquisition of Producing E&P Assets – Prairie Operating Co – slide 10
    COMPANY HIGHLIGHTS Opportunity To Rapidly Scale Development of a Liquids Rich Commercially Proven Asset Fully engineered proven reserves with over 250mm in PV10 value 45,000 acres de-risked by Chevron, Civitas, EOG, and Occidental…

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