Presidio Production Company has signed definitive purchase and sale agreements to acquire the Canyon Creek assets for approximately $83 million from companies controlled by Vortus Investments and other sellers, marking a significant step in the company’s expansion strategy across the US oil and gas sector. The transaction follows the previously announced letter of intent disclosed in February 2026 and is expected to close in the early part of the third quarter of 2026, subject to customary conditions and adjustments. The acquisition will represent Presidio’s first completed deal since becoming a publicly listed company.
Under the agreement, the acquisition will be financed through a combination of $60 million in cash and 2,173,913 shares of Presidio equity issued to the sellers. Funding for the cash portion will come from the company’s recently announced $1 billion Goldman Sachs ABS Warehouse Facility along with available cash reserves.
The Canyon Creek acquisition provides Presidio with an entry into the Arkoma Basin, expanding its operational footprint into a strategically adjacent producing region. The assets currently include approximately 21.4 MMcfe/d of net proved developed producing output from 55 active wells as of April 2026. Production is weighted toward natural gas, which accounts for nearly 70 percent of total output, with natural gas liquids contributing the remaining 30 percent. The assets carry an estimated annual production decline rate of approximately 11 percent.
Presidio estimates the acquired portfolio holds proved developed producing reserves of nearly 100 Bcfe and an estimated PV-10 value of around $100 million. The company expects the transaction to generate free cash flow yields and levered equity returns exceeding 20 percent during the first year of ownership.
Will Ulrich, Co-Founder and Co-CEO of Presidio, said the acquisition aligns closely with the company’s long-term land-and-expand growth strategy. He noted that the Canyon Creek assets provide a strong operational foundation in a new basin while supporting the company’s objective of increasing shareholder returns through disciplined acquisitions and asset optimization.
Chris Hammack, Co-Founder and Co-CEO, stated that the transaction reflects Presidio’s strategy of acquiring producing assets that can be consolidated and enhanced through operational efficiencies. He added that the company is prepared to implement production optimization initiatives immediately after closing.
The company also indicated that the transaction is expected to support an increase in its projected annual dividend from $1.35 per share to $1.50 per share. Headquartered in Fort Worth, Presidio operates stable oil and gas assets across the Mid-Continent region with a business model focused on acquiring and optimizing producing wells without undertaking drilling activities.
