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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Cash flows from operating activities:      
Net loss attributable to Prairie Operating Co. $ (152,673) $ (2,617)  
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation, depletion, and amortization 15,844 2,123  
Abandonment and impairment of unproved properties 412 0  
Stock–based compensation 5,733 1,324  
Unrealized loss on derivatives 162,883 898  
Loss on adjustment to fair value – embedded derivatives, debt, and warrants 31,851 2,164  
Deferred income taxes (38,394) 0  
Amortization of deferred financing costs 963 270  
Changes in operating assets and liabilities:      
Oil, natural gas, and NGL accrued revenue (4,368) (6,528)  
Joint interest and other receivables (3,576) 1,914  
Inventory, prepaid expenses, and other current assets 1,062 (1,471)  
Accounts payable, accrued expenses, and other current liabilities 13,901 20,756  
Revenue, ad valorem, and production taxes payable 8,630 (1,901)  
Net cash provided by operating activities 42,268 16,932  
Cash flows from investing activities:      
Cash paid for Bayswater asset purchase, net of cash received 0 (474,581)  
Deposit on other oil and natural gas properties 0 (15,000)  
Development of oil and natural gas properties (34,074) (38,999)  
Other asset and leasehold purchases (2,263) 0  
Cash received from payment on note receivable 0 149  
Net cash used in investing activities (36,337) (528,431)  
Cash flows from financing activities:      
Borrowings on the Credit Facility 56,000 349,000  
Repayment on the Credit Facility (60,500) 0  
Debt issuance costs associated with the Credit Facility 0 (12,511)  
Proceeds from the issuance of Common Stock 0 43,817  
Financing costs associated with issuance of Common Stock 0 (3,077)  
Proceeds from the issuance of Series F Preferred Stock 0 148,250  
Financing costs associated with the issuance of Series F Preferred Stock 0 (1,233)  
Payments of the Subordinated Note – related party 0 (3,214)  
Proceeds from option exercise 0 583  
Treasury stock repurchased (1,188) (336)  
Net cash (used in) provided by financing activities (5,688) 521,279  
Net increase in cash and cash equivalents 243 9,780  
Cash and cash equivalents, beginning of the period 20 5,192 $ 5,192
Cash and cash equivalents, end of the period $ 263 $ 14,972 $ 20