Presidio acquires Canyon Creek assets for ~$83M, eyes dividend rise

Presidio Production Company (NYSE: FTW) has closed its acquisition of the Canyon Creek assets from companies controlled by Vortus Investments and additional sellers, the Fort Worth, Texas-based oil and gas operator said in a press release.

The purchase price was approximately $83 million. The deal marks Presidio's entry into the Arkoma Basin and is its second acquisition as a public company. The transaction was funded through a $55 million draw under the company's ABS Warehouse Facility of up to $1.0 billion, led by Goldman Sachs. Citizens Bank, N.A. joined the facility with a 40% participation.

The acquired assets include 55 producing wells with net proved developed producing reserves of approximately 100 Bcfe and net production of approximately 21 MMcfe/d as of May 2026, comprised of 70% natural gas and 30% natural gas liquids, with an 11% annual decline rate. The estimated proved developed producing PV-10 is approximately $100 million.

The company said it believes the transaction will support an increase to its anticipated annualized dividend rate from $1.35 to $1.50 per share, subject to board approval.

In connection with the deal, Presidio issued 1,962,240 new shares of Class A common stock to the sellers.

Opportune Partners LLC served as financial advisor to Presidio. Latham & Watkins LLP and Sidley Austin LLP served as legal counsel to Presidio.

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