Prairie Operating (PROP) Water Tower Research Insights Conference summary

Strategic direction and leadership

• Focused on consolidating smaller entities in the DJ Basin, leveraging a team with deep local expertise and entrepreneurial culture.

• Leadership team has extensive experience in the DJ Basin and a history of building and integrating oil and gas companies.

• Attracts talent by offering a nimble, hands-on environment compared to larger operators.

Operational highlights and basin characteristics

• DJ Basin offers low-cost, high-return wells due to shallow targets and stacked pay zones (Niobrara A, B, C, Codell).

• Operations benefit from high net royalty interests and efficient, factory-style drilling and completion processes.

• Continuous fracking and use of surfactants are improving well economics and deliverability.

Regulatory and permitting environment

• Navigates complex Colorado regulations with a specialized team, securing over 1,000 permits annually.

• Permitting timelines have improved to 12–18 months, with a three-year permit life and over two years of inventory secured.