Prairie Operating's Q2 revenue beats estimates on improved drilling performance
PROP•What drove the results
- Drilling performance - The company said improved drilling execution, including wells drilled below budget and technical milestones, supported results.
- Cost savings - The company said new wellbore design trials generated realized savings and will be deployed more broadly.
- Capital discipline - The company said it maintained disciplined capital allocation and expanded commodity hedges to provide future cash flow visibility.
Key reported figures and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $98.86 mln | $97.73 mln (3 Analysts) |
| Q2 Adjusted EBITDA | $34.01 mln | ||
| Q2 Basic EPS | $1.75 | ||
| Q2 Capex | $98.49 mln |
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell".
The average consensus recommendation for the oil & gas exploration and production peer group is "buy".
Wall Street's median 12-month price target for Prairie Operating Co is $3.00, about 200% above its Aug. 14 closing price of $1.00.
The stock recently traded at 1 times the next 12-month earnings vs. a P/E of 1 three months ago.
