Prospera Energy

What Prospera Energy does

Prospera Energy Inc. is a Calgary-based, publicly traded junior heavy oil and natural gas producer (TSX.V: PEI; OTC: GXRFF) focused on the exploration, development, and production of crude oil from legacy fields in Saskatchewan and Alberta. The company's strategy centers on reactivating shut-in wells and applying modern enhanced oil recovery techniques — including waterflood optimization, hot water injection, steam flooding, and polymer flooding — to legacy assets where only ~8% of an estimated 400 million barrels of oil in place has historically been recovered using older vertical well technology. Core properties include Cuthbert, Luseland, Hearts Hill, Brooks, Consort, and Hanna, with the company holding 100% working interest across its Saskatchewan heavy oil core following the White Tundra Petroleum acquisition in August 2025 and the Cuthbert working interest consolidation in February 2026.

The company generates revenue through direct sales of crude oil and natural gas to refineries, oil marketing companies, and midstream processors in Western Canada, with pricing tied to WCS heavy oil benchmark at WTI minus differentials and partial hedging (300 bbl/d hedged at WTI minus $12.40 for six months from April 1, 2026). Production economics are driven by well reactivation and workover activity rather than new drilling, yielding lower capital intensity: Q4 2025 net sales reached 745 BOE/d (up 19% YoY), operating costs declined 24% per BOE, and operating cash flow per barrel grew 700% between February and March 2026. The asset base is supported by over 140 reactivation targets in inventory, including 41 ranked Tier 1, providing a multi-year visible growth runway.

Prospera is led by Executive Chairman & CEO Shubham Garg, appointed as part of an October 31, 2024 management and board restructure that catalyzed the 378% production increase at Luseland over the subsequent 18 months. The leadership bench includes COO Darren Jackson (30 years Western Canadian operations), CFO Chris Ludtke (12 years at Husky Energy focused on thermal and CHOPS economics), and Sr. Reservoir Engineer Peter Chung (Ph.D., 18 years in EOR). Capital formation has been episodic and recurring, with multiple private placements and convertible debt offerings in 2025 and 2026 totaling approximately $13.6 million CAD, supported by insider participation and a major Canadian financial institution.

Name

Prospera Energy

Legal name

Prospera Energy Inc.

Website

https://prosperaenergy.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Prospera Energy is a publicly traded Canadian junior heavy oil and natural gas producer that reactivates legacy wells and applies enhanced oil recovery techniques across Saskatchewan and Alberta properties, selling crude and gas directly to Western Canadian refineries and midstream buyers.

Ownership category

akta.pro rank

Product category

Upstream Oil & Gas Production

NAICS

Crude Petroleum Extraction (21112), Oil and Gas Extraction (2111), Crude Petroleum Extraction (211120)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Field Development & EOR/IOR for Gas (Compression, Refracturing, Reservoir Management) (EUAAAAAM)

akta.pro secondary industry

Oil & Gas Facilities Asset Management (Refining/Terminals/LNG) (EUAEAMAG)

Keywords

• Heavy oil production
• Crude oil exploration
• Natural gas production
• Well reactivation services
• Enhanced oil recovery

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Technology or R&D

Revenue model

1. Crude Oil Production: Prospera Energy generates revenue through the sale of crude oil produced from its Saskatchewan and Alberta heavy oil properties. Production is sold at market prices with hedging on WCS production at WTI minus differentials.
2. Natural Gas Production: The company produces and sells natural gas from its multi-zone properties including Viking gas and Colony gas zones in Saskatchewan.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Prospera Energy is a publicly traded Canadian energy company that produces and sells crude oil and natural gas from legacy heavy oil fields in Saskatchewan and Alberta, Canada. The company's strategy centers on reactivating previously shut-in wells and deploying enhanced oil recovery techniques such as hot water injection, steam flooding, and polymer flooding to unlock value from overlooked legacy assets with 400 million barrels of oil in place. Core producing properties include Cuthbert, Luseland, Hearts Hill, Brooks, Consort, and Hanna, with the company holding 100% working interest in most core Saskatchewan heavy oil properties.

Product overview

Prospera Energy is a publicly traded Canadian energy company specializing in crude oil and natural gas exploration, development, and production. The company operates a portfolio of legacy oil fields in Saskatchewan and Alberta, with core producing properties including Cuthbert, Luseland, Hearts Hill, Brooks, Consort, and Hanna. The company's strategy focuses on unlocking overlooked assets through well reactivation programs, infrastructure upgrades, and enhanced oil recovery (IOR/EOR) techniques. The company holds 100% working interest in most of its core properties and is listed on TSX Venture Exchange (PEI) and U.S. OTC Markets (GXRFF).

Differentiator

Problem solved

Functional benefit

Products and services

• Crude Oil Production Exploration, development, and production of crude oil from legacy fields in Saskatchewan and Alberta, Canada. Core properties include Cuthbert, Luseland, Hearts Hill, Brooks, Consort, and Hanna, with a focus on well reactivation programs and 100% working interest across core Saskatchewan heavy oil properties.
• Natural Gas Production Production of natural gas from properties in Western Canada, including Viking gas and Colony gas zones at the Cuthbert property in Saskatchewan.

Quantifiable outcome

• 378% production increase at Luseland from 54 BOE/d to 258 BOE/d over 18 months
• +5 more outcomes

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Joint Venture PartnershipminorStrategic or Co-development Partner · 29 August 2025Prospera Energy signed a joint venture partnership alongside the closing of the White Tundra Petroleum acquisition in August 2025. Details of the partnership structure and counterparties were not fully disclosed in available sources.

Scale indicators20 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Saturn Oil & Gas Inc. TSX-listed junior Canadian heavy and light oil producer focused on low-decline conventional assets in Saskatchewan and Alberta. Directly comparable to Prospera as a small-cap Western Canadian E&P pursuing production growth through acquisitions and reactivations.
• Gear Energy Ltd. TSX-listed junior heavy oil producer operating primarily in southeastern Saskatchewan. Closely comparable to Prospera's Cuthbert and Luseland assets in terms of asset base, scale, and focus on heavy oil redevelopment.
• Tamarack Valley Energy Ltd. TSX-listed intermediate Canadian E&P focused on light and heavy oil assets in Alberta and Saskatchewan. Comparable to Prospera as a Western Canadian heavy oil producer with similar reactivation and waterflood-driven growth strategies.
• Cardinal Energy Ltd. TSX-listed junior Canadian heavy oil producer with assets in Alberta and Saskatchewan, focused on low-decline, long-life reserves. Comparable to Prospera's heavy oil redevelopment strategy and similar operating footprint in Western Canada.
• Pine Cliff Energy Ltd. TSX-listed junior Canadian energy company with natural gas and light oil production in Alberta and Saskatchewan. Directly comparable as a small-cap Canadian E&P with similar production scale (sub-10,000 boe/d) and capital-constrained growth strategy.

Broad incumbents

• Crescent Point Energy Corp. Senior TSX-listed Canadian E&P with a large heavy oil portfolio in Saskatchewan, including Viewfield and Bakken assets. Comparable to Prospera as a Saskatchewan-focused conventional heavy oil producer, but with materially larger scale and broader asset diversification.
• Whitecap Resources Inc. Intermediate TSX-listed Canadian E&P with diversified light, heavy, and liquids-rich gas production across Western Canada. Comparable to Prospera as a Western Canadian conventional producer pursuing low-decline assets and consolidation, though at much greater scale.
• Cenovus Energy Inc. Major TSX-listed Canadian integrated oil company with significant heavy oil and oil sands operations in Alberta and Saskatchewan. Comparable as a heavy oil operator in Western Canada but at vastly larger scale and with thermal/SAGD-focused operations.
• Suncor Energy Inc. Largest TSX-listed Canadian integrated oil company, anchored by oil sands and conventional heavy oil production in Alberta. Comparable to Prospera as a Western Canadian heavy oil producer, but operates at vastly larger scale with downstream refining assets.
• Vermilion Energy Inc. TSX-listed intermediate Canadian E&P with conventional heavy oil assets in Saskatchewan (e.g., Border) and Western Canada operations. Comparable to Prospera as a Saskatchewan heavy oil producer, though with broader geographic and product diversification.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/prosperaenergy

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds10 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Prospera Energy