Prairie Operating Co. Sees Revenue Surge on Higher Oil Prices

Prairie Operating Co., an energy company listed as PROP, reported its second-quarter 2026 financial results. Revenue rose to $98.86 million, a year-over-year increase of 45%, driven by higher oil prices and increased production from new wells.

The company's net income attributable to Prairie Operating Co. reached $109.02 million, up 205.5% compared to the same period last year. Diluted earnings per share (EPS) were $0.23, a 27.8% increase over the prior-year quarter.

Prairie Operating Co.'s production ramp has been successful, with an average of approximately 22,522 barrels of oil equivalent per day (Boe/d) for the six months ended June 30, 2026. The company expects to spend between $185 and $195 million on capital expenditures in 2026.

The company's hedging strategy is designed to mitigate price volatility's impact on cash flow, with active commodity hedges across oil, gas, and natural gas liquids (NGLs).