Prairie Operating Q2 revenue skyrockets 45% to $98.9 million

• Prairie Operating reported Q2 2026 revenue of $98.9 million, up approximately 45% year-over-year, with adjusted EBITDA of $34 million.
• Prairie Operating shares were up 19% at $1 in pre-market trading following the earnings release.
• Prairie now expects 2026 production of 23,000–25,000 Boe/d and adjusted EBITDA of $180–$190 million.

Prairie Operating (NASDAQ:PROP) reported Q2 2026 revenue of $98.9 million, up approximately 45% year-over-year, while adjusted EBITDA reached $34 million.

Quarterly production totaled 1.99 MMBoe, or 21,866 Boe/d, with 72% liquids and 50% oil, while capital expenditures were $98.5 million.

Prairie ended June with a $125.5 million working capital deficit and $39 million available under its $475 million reserve-based credit facility.

Prairie expects 2026 production of 23,000–25,000 Boe/d, capex of $185–$195 million and adjusted EBITDA of $180–$190 million.

Following the announcement, Prairie Operating share price was up 19.0% at $1.00 in pre-market trading.

Year-to-date revenue reached $182.3 million, up 125%, while adjusted EBITDA increased 65% to $71.1 million and August production was running at approximately 27,000 Boe/d.

Prairie also amended its credit facility on August 14 to modify the current-ratio covenant through year-end and add a minimum-production covenant measured on a rolling three-month average beginning September 30.