Prairie Storm was a private oil and gas acquisition, exploration and development company incorporated on January 21, 2015 under the ABCA. Prairie Storm was not listed on any stock exchange and was not a reporting issuer in any jurisdiction. Since its inception in 2015 Prairie Storm’s activities have focused on identifying and acquiring strategic, growth-oriented oil and gas assets with proven oil and gas reserves and associated production. Prairie Storm has focused its activities on low-risk, economically attractive drilling opportunities, infrastructure ownership and growing reserves through proven enhanced oil recovery techniques.
In August 2016, Prairie Storm closed its initial acquisition of assets. Approximately 2,300 boe/d of production was acquired in the Willesden Green area of West Central Alberta. Since the acquisition, Prairie Storm has been involved in drilling 13 gross (11.3 net) horizontal wells targeting the Cardium formation on the acquired assets.
In October 2018, Prairie Storm entered into an asset exchange agreement whereby it disposed approximately 650 boe/d of gas weighted production in exchange for $9.5 million of cash, and approximately 250 boe/d of oil focused production the Cardium formation in the Willesden Green area.
Through a reverse takeover (“RTO”) on December 16, 2020, Prairie Storm Resources Corp. (formerly Quendale Capital Corp.) acquired all the issued and standing shares of Prairie Storm Energy Corp. (“Prairie Energy”), and changed its name to Prairie Storm Resources Corp