Prairie Operating Co. Appoints Richard Frommer Interim CEO, Erik Thoresen as Chairman
Prairie Operating Co. named board member Richard N. Frommer Interim President and CEO and appointed Erik Thoresen as Board Chairman after CEO Edward Kovalik resigned and President Gary C. Hanna retired under separation agreements. The Board has engaged a leading search firm to find a permanent President and CEO.
1. Interim Leadership Appointments
Prairie Operating Co. appointed Richard N. Frommer, a current board member, as Interim President and CEO and designated Erik Thoresen as Chairman of the Board, effective March 3, 2026. These appointments are intended to maintain strategic oversight and operational continuity in the Denver-Julesburg Basin during the leadership transition.
2. Executive Departures
Edward Kovalik voluntarily resigned as CEO and Chairman, and co-founder Gary C. Hanna retired as President and director under newly executed separation agreements that outline their departure terms. Kovalik and Hanna led Prairie through its initial inception, acquisitions, and foundation-building phases.
3. Interim CEO Background
Frommer brings more than 40 years of oil and gas industry experience, including roles as President and CEO of Great Western Petroleum from 2013 to 2021 and Senior Vice President of the Rocky Mountain division at Samson Resources until 2012. He joined Prairie’s board in November 2024 and holds a geology certification along with advanced management training.
4. CEO Search Process
The Board has retained a leading executive search firm to identify both internal and external candidates for the permanent President and CEO role. The selection process will prioritize expertise in capital allocation, asset development within the DJ Basin, and sustainable cash flow generation.