Earnings Releases·Nov 12, 2026, 4:30 PM ET

Prairie Operating Co. — Third Quarter 2026 Earnings Summary

Total revenue surged 67% year-over-year to $129.5 million for Q3 2026, while year-to-date revenue rose 97% to $311.8 million; Adjusted EBITDA increased 16% YoY to $65.3 million for the quarter.
Net loss narrowed to $34.0 million ($0.26 per share) in Q3 2026 compared to $22.5 million in Q3 2025, though year-to-date net loss improved significantly to $14.6 million from $67.5 million in 2025.
Production reached approximately 32,287 Boe/d by early October 2026, driven by the Burnett development pad and Castor pad completions, with lease operating expenses per Boe decreasing 21% year-over-year to $5.71.
Management is evaluating refinancing opportunities for the remaining Series F preferred stock and redeemed $19.1 million of this stock during the nine months ended September 30, 2026.
The company maintains a focus on realizing cash returns from 2026 capital investments and managing spending to sustain production, with net cash provided by operating activities for the first nine months totaling $123.4 million.