11:20 AM EDT, 07/09/2024 (MT Newswires) -- Prairie Operating Company ( PROP ) said Tuesday it plans to begin drilling its first wells in August at eight sites targeting the Niobrara B and C formations of the Denver-Julesburg basin.

The company said it has contracted a drilling rig from Precision Drilling ( PDS ) and arranged for other oilfield services at the properties. Prairie is expecting to complete work on the new wells and start production by Q4, it said.

The company recently acquired the well locations through its Shelduck South bolt-on transaction.

Prairie shares were 0.9% lower in recent trading Tuesday.

Price: 9.21, Change: -0.08, Percent Change: -0.85