Presidio Production Company announced it has executed definitive purchase and sale agreements to acquire the Canyon Creek assets for approximately $83 million from companies controlled by Vortus Investments and additional sellers.
The company said the transaction is expected to be funded through $60 million in cash and approximately 2.17 million shares of Presidio equity issued to the sellers, subject to customary adjustments. The cash portion of the acquisition will be financed using Presidio’s previously announced $1 billion Goldman Sachs ABS Warehouse Facility along with cash on hand.
Presidio expects the acquisition to expand its operating footprint into the Arkoma Basin while supporting its broader land-and-expand acquisition strategy focused on producing oil and natural gas wells without drilling.
The Canyon Creek assets currently include approximately 55 producing wells generating net PDP production of about 21.4 MMcfe/d as of April 2026, with production comprised of roughly 70% natural gas and 30% natural gas liquids.
According to the company, the assets have an estimated Proved Developed Producing PV-10 value of approximately $100 million and estimated net proved developed producing reserves of approximately 100 Bcfe.
Presidio said the transaction is expected to generate year-one free cash flow yields and levered equity returns exceeding 20%. The company also stated the acquisition is expected to support an increase in its anticipated annual dividend from $1.35 to $1.50 per share.
The transaction is expected to close early in the third quarter of 2026, subject to customary closing conditions, and would represent Presidio’s first completed acquisition as a public company.
Opportune Partners served as financial advisor to Presidio, while Latham & Watkins acted as legal counsel.
KEY QUOTES:
“We are pleased to sign the Purchase and Sale Agreements for the Canyon Creek assets, and we look forward to closing the Transaction. This deal is a key step in our growth trajectory, as it provides Presidio with a high-quality foothold in an adjacent basin that aligns perfectly with our land-and-expand strategy. We expect these assets to generate strong returns, demonstrating the strength of our business model as well as our ability to increase dividends through acquisitions. Our backlog is stronger than ever, and we are actively pursuing our next acquisition opportunity.”
Will Ulrich, Co-Founder And Co-CEO, Presidio
“This Transaction reflects exactly how we intend to grow Presidio, by acquiring producing assets as a footprint for consolidation and optimization. We will be ready on day one to implement our operational efficiency improvements and production enhancements.”
Chris Hammack, Co-Founder And Co-CEO, Presidio
