Prairie Operating Co. announced on Aug. 28 the closing of two previously announced bolt-on acquisitions in the Denver-Julesburg (D-J) Basin.
Together, the deals add approximately 16,000 net acres to Prairie’s portfolio. The acquisitions were sourced off market, funded with existing working capital and are expected to be immediately accretive, Prairie said in the press release.
Prairie did not disclose the sellers of the two closed deals in its Aug. 28 announcement. The company did not respond to Hart Energy’s request for comment at the time of publication.
On July 2, Prairie announced a deal with Edge Energy II for 11,000 net acres in the D-J for $12.5 million in cash.
Prairie also closed on its $602.75 million acquisition of D-J assets from Bayswater earlier this year. The deal included 24,000 acres, 600 drilling locations and 10 years of drilling inventory.
CEO Ed Kovalik said last week at the EnerCom conference in Denver that though the Bayswater deal closed in March, it was still completing post-closing settlements because of a transition services agreement with Bayswater. Kovalik had said a final settlement was to be expected in the coming weeks.
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