Foley Represents Edge Energy in $12.5M Sale of DJ Basin Assets to Prairie Operating

Foley & Lardner LLP represented Edge Energy II LLC (Edge Energy) in the $12.5 million sale of oil and gas assets in the Denver-Julesburg (DJ) Basin to Prairie Operating Co. (Nasdaq: PROP).

The acquisition adds approximately 11,000 net acres to Prairie’s DJ Basin position, expanding its total footprint to roughly 60,000 net acres. It includes existing production of approximately 190 barrels of oil equivalent per day from 47 wells, along with a strong pipeline of future drilling locations with numerous permits already in place.

Prairie plans to begin developing the assets in August 2025, starting with the fully permitted Simpson pad. Simultaneously, the company will begin permitting additional planned unit development (PUD) locations to enable near-term future development.

The Foley team was led by partner Nicholas Peters, of counsel Neal Bakare, and associate Mitch Holliman.