Prairie Operating Co. PP&E Disclosure
|
December 31,
2025
|
December 31,
2024
|
|||||||
|
(In thousands)
|
||||||||
|
Unproved oil and natural gas properties
|
$
|
32,796 |
$
|
29,335 |
||||
|
Properties in development
|
25,101 |
41,127 |
||||||
|
Proved oil and natural gas properties
|
794,835 |
64,491 |
||||||
|
Less: Accumulated depletion
|
(48,653 |
)
|
(422 |
)
|
||||
|
Proved oil and natural gas properties, net
|
746,182 |
64,069 |
||||||
|
Oil and natural gas properties, net
|
804,079 |
134,531 |
||||||
|
Other property and equipment (1)
|
21,067 |
94 |
||||||
|
Less: Accumulated depreciation
|
(690 |
)
|
(5 |
)
|
||||
|
Other property and equipment, net
|
20,377 |
89 |
||||||
|
Total property and equipment, net
|
$
|
824,456 |
$
|
134,620 |
||||
| (1) | For the year ended December 31, 2025, other property and equipment includes several salt–water disposal wells and the associated facilities, equipment, and pipelines acquired in the Bayswater Acquisition in March 2025, refer to Note 3 – Acquisitions for a discussion of the Bayswater Acquisition |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 31, 2026 | Showing above |
| 2024 | Mar 6, 2025 | |
| 2023 | Mar 19, 2024 | |
| 2022 | Mar 31, 2023 | |
| 2021 | Mar 31, 2022 | |
| 2020 | Mar 29, 2021 | |
| 2019 | Mar 30, 2020 | |
| 2018 | Apr 1, 2019 | |
| 2017 | Apr 2, 2018 | |
| 2016 | Apr 17, 2017 | |
| 2015 | Apr 14, 2016 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.