Prairie Operating (PROP) said Wednesday it agreed to acquire oil and gas assets in the Denver-Julesburg Basin from Edge Energy II for $12.5 million in cash.
Prairie said the deal adds about 11,000 net acres and roughly 190 barrels of oil equivalent per day from 47 wells.
Prairie also said it will use its credit facility to fund the acquisition and begin development of the acquired assets in August.
Shares of the company were up nearly 2% in early trading Wednesday.
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