Mergers & Acquisitions ·
Presidio Production Company acquires Oklahoma oil and gas assets for $52.5M cash plus stock
FTWPRESIDIO PRODUCTION Co
Presidio Production Company completed the acquisition of oil and gas assets in Oklahoma from several seller parties, including Canyon Creek Energy - Arkoma, LLC, Alchemist Energy LeaseCo, LP, and Pivotal Arkoma Basin II, LLC. The transaction involved an aggregate cash payment of approximately $52.5 million and the issuance of 1,930,156 shares of Class A common stock. Additionally, the company entered into a senior secured warehouse credit facility with Goldman Sachs Bank USA as administrative agent, providing up to $1.0 billion in aggregate commitments, with an initial $55.0 million drawn on the closing date. The company operates in the energy sector, focusing on the production and acquisition of oil and gas assets.