Prairie Operating Enters $1B Reserve-Based Lending Facility with Citibank

Prairie Operating entered into a multi-year reserve-based lending credit facility. The RBL facility, arranged with Citibank, provides for an initial commitment of $44 million with the ability to expand up to $1 billion following production additions._x000D_
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“This facility enhances our financial flexibility and accelerates our development plans,” Edward Kovalik, chairman and CEO of Prairie Operating, said. “The ability to expand further with Citi underscores the strength of our asset base and our disciplined approach to strategically growing the company.”_x000D_
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This credit facility backstops Prairie’s ability to secure tailored financial solutions that align with its development milestones.