v3.25.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Total revenues $ 68,100 $ 80,915 [1]
Operating expenses:        
Lease operating expenses 11,348 13,361
Gathering, transportation, and processing expenses 2,234 2,367
Ad valorem and production taxes 6,416 7,374
Depreciation, depletion, and amortization 12,199 14,315
Accretion of asset retirement obligation 66 71
Exploration expenses 458 57 745 498
General and administrative expenses 16,443 8,512 21,995 16,115
Total operating expenses 49,164 8,569 60,228 16,613
Income (loss) from operations 18,936 (8,569) 20,687 (16,613)
Other income (expenses):        
Interest expense (9,124) (10,502)
Realized gain on derivatives 4,944 4,162
Unrealized gain on derivatives 23,206 23,090
Loss on adjustment to fair value – embedded derivatives, debt, and warrants (2,373) (4,537)
Interest income and other 94 55 166 107
Total other income (expenses) 16,747 55 12,379 107
Income (loss) from operations before provision for income taxes 35,683 (8,514) 33,066 (16,506)
Provision for income taxes
Net income (loss) from continuing operations 35,683 (8,514) 33,066 (16,506)
Loss from discontinued operations, net of taxes (1,045)
Net loss from discontinued operations (1,045)
Net income (loss) attributable to Prairie Operating Co. 35,683 (8,514) 33,066 (17,551)
Series F preferred stock declared dividends (3,289) (3,289)
Series F preferred stock undeclared dividends (1,402) (1,647)
Remeasurement of Series F preferred stock 17,511 (73,101)
Net income (loss) attributable to Prairie Operating Co. common stockholders $ 48,503 $ (8,514) $ (44,971) $ (17,551)
Earnings (loss) per common share        
Basic earnings (loss) per share $ 1.04 $ (3.49) $ (1.27) $ (1.60)
Diluted earnings (loss) per share $ 0.18 $ (3.49) $ (1.27) $ (1.60)
Weighted average common shares outstanding        
Basic 44,063,281 12,000,568 35,477,691 11,002,778
Diluted 198,365,207 12,000,568 35,477,691 11,002,778
Crude Oil Sales [Member]        
Revenues:        
Total revenues $ 57,941 $ 68,729 [1]
Natural Gas Sales [Member]        
Revenues:        
Total revenues 6,084 6,533 [1]
NGL Sales [Member]        
Revenues:        
Total revenues $ 4,075 $ 5,653 [1]
[1] Total revenues for the six months ended June 30, 2025, include revenue from the assets acquired from Bayswater beginning on March 26, 2025, the closing date of the Bayswater Acquisition, through June 30, 2025.