Presidio Production said it signed purchase and sale agreements to acquire the Canyon Creek assets for about $83 million from companies controlled by Vortus Investments and other sellers. The deal marks the company's first acquisition as a public company.
The acquisition will be funded with $60 million in cash and about 2.17 million shares of Presidio equity issued to the sellers, subject to customary adjustments. The cash portion will be financed through the company's previously announced $1 billion Goldman Sachs ABS Warehouse Facility and cash on hand.
The Canyon Creek assets include 55 producing wells with net proved developed producing output of about 21.4 MMcfe/d as of April 2026, consisting of 70% natural gas and 30% natural gas liquids. Presidio said the assets have estimated proved developed producing reserves of about 100 Bcfe and a PV-10 value of about $100 million.
The assets are located in the Arkoma Basin and are expected to support Presidio’s expansion and consolidation strategy. The company expects levered equity returns and year-one free cash flow yields exceeding 20%.
The acquisition is expected to close early in the third quarter of 2026, subject to customary closing conditions.