Why These Energy Stocks Are Losing This Week

3. Prairie Operating Co. (NASDAQ:PROP)

Share Price Decline Between Apr. 15 and Apr. 22: 9.95%

Prairie Operating Co. (NASDAQ:PROP) is an independent energy company engaged in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States.

Prairie Operating Co. (NASDAQ:PROP) recently filed a registration statement for the potential sale of up to $500 million of securities from time to time in one or more offerings. Just last month, the company announced the pricing of an underwritten public offering of $38.5 million of shares of its common stock at a price to the public of $4.50 per share. The company intends to use these proceeds for general corporate purposes, which may include investments in subsidiaries, existing or future projects, drilling and development programs, funding acquisitions, working capital, capital expenditures, and debt repayment.