Prairie Operating Co. (PROP)

Prairie Operating Co.'s stock has experienced significant volatility in the past six months. The share price declined by 75.58% from October 28, 2024, to October 24, 2025, with a notable drop in market capitalization. A $600 million acquisition significantly impacted the company's market cap and share amount. Additionally, a $150 million preferred stock offering and a subsequent reduction of a stock offering from $200 million to $40 million were notable financial events. Despite reporting record production and adjusted EBITDA in Q2 2025, the stock price was described as "beat up" in the market, and investor sentiment decreased, indicated by a significant increase in short interest. Prairie Operating Co. announced a year-end update conference call and webcast for December 19, 2024, to review its 2024 performance.

While specific demand seasonality for Prairie Operating Co.'s products and services is not explicitly detailed, the company operates in the broader oil and natural gas industry. Demand for crude oil, natural gas, and natural gas liquids is generally influenced by overall economic activity, industrial needs, and energy consumption patterns, which can have seasonal variations. Natural gas demand often increases during colder months for heating. The industry is also impacted by global demand trends and geopolitical shifts.

Prairie Operating Co. is an independent energy company focused on the acquisition, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company operates within the Energy sector, emphasizing sustainable development, responsible investment, and safe operations. Prairie Operating Co. has grown through organic development and strategic acquisitions.

Prairie Operating Co. primarily holds assets and focuses its operations in the Denver-Julesburg (DJ) Basin in Colorado. Its operational presence extends to northern Colorado, near the Wyoming state line, and also includes areas near Nebraska. The company's headquarters are located in Houston, Texas.

Prairie Operating Co. promotes a brand image centered on safe and environmentally responsible energy production. The company highlights its commitment to "clean operations" by utilizing electric drilling rigs and frac fleets and ensuring no gas flaring. Despite these efforts, the company's CEO has indicated that the stock is "deeply undervalued" and the company is "misunderstood" by the market, suggesting a challenge in market perception and reputation.

Prairie Operating Co. has a diverse ownership structure comprising institutional, individual, and insider investors. Institutional investors collectively hold approximately 3.63% to 7.35% of the company's stock. Insiders hold a substantial portion, around 39.68% of the stock, with individual investors and public companies owning approximately 52.97%. Gregory O'Neill is a significant individual shareholder with 24% of shares outstanding, and CEO Edward Kovalik directly holds 2.4% of the total shares. Hedge funds account for 5.2% of the ownership.