The company also reported a record Adjusted EBITDA of $155.5 million, or approximately $220.0 million including Bayswater, reflecting a staggering increase of over 975% compared to the previous year. Prairie's production levels saw a dramatic rise, with an average of 18,500 barrels of oil equivalent per day (Boe/d), which includes approximately 50% oil and 73% liquids. The current production rate has reached approximately 28,000 net Boe/d, underscoring the effectiveness of the company's operational strategies.
In addition to these impressive financial metrics, Prairie Operating Co. has expanded its hedging program, securing favorable commodity pricing through 2029. The company has also successfully completed the transition services period for its $602.75 million acquisition of assets from Bayswater, further solidifying its market position.
Looking ahead, Prairie has initiated full-year guidance for 2026, projecting average daily production between 25,500 and 27,500 Boe/d, with capital expenditures estimated between $200.0 million and $220.0 million. The company anticipates Adjusted EBITDA to range from $240.0 million to $260.0 million, reflecting its commitment to operational excellence and shareholder value creation.
Richard Frommer, Interim Chief Executive Officer, commented, "2025 marked a transformational year for Prairie. We materially scaled production, expanded margins, fully integrated the Bayswater assets, and strengthened our balance sheet while maintaining capital discipline and operational excellence. Our team delivered record production and Adjusted EBITDA, giving us strong momentum entering 2026. With a deep inventory of high-quality drilling locations, expanded hedge protection, and growing scale in the DJ Basin, we believe Prairie is well positioned to execute on its strategy and create long-term shareholder value."
