AcquisitionsMay 14, 2026, 06:26 AM
Presidio Production Acquires Oil & Gas Assets for $60M Cash & Shares
AI Summary
Presidio Production Company entered into purchase and sale agreements to acquire oil and gas properties and assets in Oklahoma from multiple seller parties. The total consideration for the transaction includes $60 million in cash and 2,173,913 shares of the company's common stock. The acquisitions from Canyon Creek, Alchemist, and Pivotal alone account for approximately $81 million of the total $83 million value. The acquisition is expected to close early in the third quarter of 2026, subject to customary closing conditions.
Key Highlights
- Presidio Production acquired oil and gas properties and assets in Oklahoma from multiple seller parties.
- The total consideration for the acquisition includes $60 million in cash.
- The total consideration also includes 2,173,913 shares of the company's common stock.
- Acquisitions from Canyon Creek, Alchemist, and Pivotal represent approximately $81 million of the total $83 million value.
- The Canyon Creek acquisition involved $19.986 million in cash and 1,166,627 shares of common stock.
- The Alchemist acquisition involved $25.395 million in cash and 920,109 shares of common stock.
- The transaction is expected to close early in the third quarter of 2026, subject to customary conditions.