Prairie Operating CEO Edward Kovalik Resigns, President Gary Hanna Retires

Dow Jones03-03

By Robb M. Stewart

Prairie Operating Co. appointed Erik Thoresen as its chairman and launched a search for a new chief executive and president with the departures of co-founders Edward Kovalik and Gary Hanna.

The energy company said Kovalik resigned voluntarily as chairman and chief executive and Hanna retired from the role of president and as a director.

The Houston-based company said it has entered into agreements with Kovalik and Hanna on the terms of their separations, and it has begun a search for a permanent president and CEO. Prairie Operating said it plans to hire an executive-search firm to support the search, which will consider both internal and external candidates.

Board member Richard Frommer has been named interim president and CEO, Prairie Operating said. Frommer, who was president and CEO of Great Western Petroleum until September 2021, has served as director of the company since November 2024.

In premarket trading, Prairie Operating's shares were down 6.2% at $1.82.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

March 03, 2026 09:20 ET (14:20 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Stewart \n\n\n \n\n\nPrairie Operating Co. appointed Erik Thoresen as its chairman and launched a search for a new chief executive and president with the departures of co-founders Edward Kovalik and Gary Hanna. \n\n\n  The energy company said Kovalik resigned voluntarily as chairman and chief executive and Hanna retired from the role of president and as a director. \n\n\n  The  Houston-based company said it has entered into agreements with Kovalik and Hanna on the terms of their separations, and it has begun a search for a permanent president and CEO. Prairie Operating said it plans to hire an executive-search firm to support the search, which will consider both internal and external candidates. \n\n\n  Board member Richard Frommer has been named interim president and CEO, Prairie Operating said. 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