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Presidio Closes Acquisition of Canyon Creek Assets in $83 Million Deal

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Presidio Production (FTW) said on Friday it had completed the acquisition of the Canyon Creek assets from companies controlled by Vortus Investments and other sellers for about $83 million, marking its entry into the Arkoma Basin.

The acquisition is Presidio's second transaction since becoming a public company and forms part of its "land-and-expand" strategy aimed at consolidating mature, cash-generating oil and gas assets.

"The transaction establishes our entry into the Arkoma Basin, where we see a compelling opportunity to build scale through consolidation," said Chris Hammack, co-CEO of Presidio.

The Canyon Creek assets comprise about 21 million cubic feet equivalent per day of net proved developed producing output as of May 2026 from 55 producing wells, with natural gas accounting for about 70% of production and natural gas liquids making up the remainder.

Presidio said the acquired assets have an estimated proved developed producing reserve base of about 100 billion cubic feet equivalent and a PV-10 value of about $100 million. The company added that the assets have an annual decline rate of about 11%.

US oil and gas producers expect the acquisition to generate a free cash flow yield exceeding 20% in the first year and levered returns above 20%.

Presidio said the deal was funded through an initial $55 million draw from its asset-backed securities warehouse facility, which has a capacity of up to $1 billion and is led by Goldman Sachs.

The transaction also marks the company's first acquisition outside its existing operations in the Western Anadarko Basin.

Price: $11.97, Change: $-0.09, Percent Change: -0.75%

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