Prairie Operating Co. (PROP) Earnings Call Transcripts

Prairie Operating Co.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Prairie Operating Company reported total revenue of approximately $83.4 million, driven by strong production growth of 2.1 million BOE, averaging 23,200 BOE per day. However, the company faced a net loss of $174.4 million, or $2.16 per share, primarily due to non-cash impacts related to derivative adjustments. Management reaffirmed full-year guidance for 2026, maintaining average daily production expectations of 25,500 to 27,500 BOE per day and adjusted EBITDA of $240 million to $260 million, indicating confidence in operational execution despite recent challenges.

Reported metrics

Guidance from management

Management reaffirmed full-year guidance for 2026, projecting average daily production of 25,500 to 27,500 BOE per day and adjusted EBITDA of $240 million to $260 million, indicating stability in operational expectations.

What management said

Those 2-mile laterals carry an average AFE between $5.2 million and $5.6 million. That’s driven by how much step-out is needed from the pad being used for drilling. In the end, when we consider most of these blend wells here, < > along with the Elders, they had somewhat bigger step-outs. As a result, they came in closer to $5.4 million to $5.5 million in real incurred cost, while their AFE targets were $5.6 million.

Charles, it's Richard here. I'll take a crack at that. What we're really focused on is mainly continuing to build through our organic growth at present. We hold more than 63,000 net acres across the basin; so the situation is something like a chess match of assembling drilling and spacing units while actively and successfully expanding that footprint every day. We monitor whatever activity is happening in the M&A mar...

What analysts pressed on

Analysts raised concerns about the impact of production shut-ins on future output and sought clarification on current production levels. There is apprehension regarding the company's ability to maintain production growth amidst operational challenges.

Main topics on the call

• Production Growth — Prairie achieved total production of approximately 2.1 million BOE, or 23,200 BOE per day, with liquids making up 72% of production. Management noted that 'early well performance has met or exceeded expectations,' indica...
• Capital Structure Improvement — The company made significant progress in addressing its capital structure by partially refinancing the Series F Preferred, which 'reduced the outstanding balance and lowered the associated warrant coverage.' This is expe...
• Adjusted EBITDA Performance — Adjusted EBITDA for the quarter totaled $37.2 million, reflecting the earnings power of the asset base. This indicates continued operational efficiency despite the net loss reported.
• Guidance Reaffirmation — Management reaffirmed full-year guidance for 2026, expecting average daily production of 25,500 to 27,500 BOE per day and adjusted EBITDA of $240 million to $260 million. This signals confidence in future performance des...

Read the full Prairie Operating Co. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 6 Prairie Operating Co. earnings call transcripts on record, spanning August 12, 2025 to November 13, 2026. Based on this history, Prairie Operating Co. reports quarterly. The most recent call on file is dated November 13, 2026. The full list is below — each row opens the transcript.

Ticker

PROP

Exchange

NASDAQ

Country

US

Sector

Energy

Industry

Oil, Gas and Consumable Fuels

Calls on record

6

First call

August 12, 2025

Most recent

November 13, 2026

Reporting cadence

quarterly