Presidio Investment Holdings, LLC, a Fort Worth-based oil and gas operator specializing in mature asset optimization, announced a definitive merger agreement with EQV Ventures Acquisition Corp. (NYSE: EQV), a special purpose acquisition company.<\/p>\n
The merger, announced by EVQ, will result in the formation of a new public entity, Presidio Production Company, with an expected listing on the New York Stock Exchange under the ticker \u201cFTW.\u201d<\/p>\n
The transaction, which values the company at a pro forma enterprise value of approximately $660 million, is expected to close later this year. It marks Presidio\u2019s transition into the public markets and positions the company as a high-yield, low-risk player in the U.S. energy sector.<\/p>\n
Presidio plans to initiate a $1.35\/share annual dividend, representing an industry-leading 13.5% yield at $10.00\/share, supported by stable, hedged production and minimal capital reinvestment. With expected net production of 26,000 barrels of oil equivalent per day (Mboe\/d) in 2025 across over 2,000 wells in Texas, Oklahoma, and Kansas, Presidio projects strong cash flows with just a 3% reinvestment rate.<\/p>\n
Co-CEOs Will Ulrich and Chris Hammack will continue leading the company, alongside a majority-independent board.<\/p>\n
\u201cThis transaction provides a permanent platform to scale our yield-focused model, pursue accretive acquisitions, and generate value for shareholders,\u201d said Ulrich in a statement.<\/p>\n
Presidio\u2019s operational model prioritizes the acquisition and optimization of mature oil and gas wells, supported by automation, real-time data analytics, and AI. Approximately 78% of production is hedged through 2027, stabilizing cash flow for dividends and debt reduction. By 2026, the company expects a 16% unlevered free cash flow yield, with zero development risk.<\/p>\n
The transaction includes $970 million in capital, made up of $65 million in rollover equity (including $40 million from management), $85 million in PIPE investment from strategic investors (including a major oil company), $125 million in Series A Preferred Equity led by JPMorgan Investment Management, and a $50 million reserve-based loan from Citizens Bank. An estimated $360 million in trust account cash from EQV will also support future acquisitions.<\/p>\n
“Presidio represents the next evolution of the public oil and gas company \u2014 efficient, predictable, and yield-driven within a simple and transparent business model,” said Chris Hammack, Co-Founder and Co-CEO. “We believe our track-record of acquisitions and meaningful cost optimization make us the strongest near-term consolidator of mature assets.”<\/p>\n
Said Ulrich: \u201cAmerica\u2019s oilfield needs capital-disciplined operators focused on deploying new technology to create long-term value. We have the expertise, track record and capital discipline to squeeze efficiency from every molecule and barrel, delivering superior returns.\u201d<\/p>\n
In a complementary move, Presidio will acquire assets in the Texas Panhandle from EQV Resources, an affiliate of EQV. EQV\u2019s sponsor will retain a significant ownership stake post-closing. Jerry Silvey, CEO of EQV, said, \u201cWith our complementary expertise and shared vision, we are confident that Presidio will be a sustainable yield leader.\u201d<\/p>\n
The merger was unanimously approved by the boards of both companies and remains subject to shareholder approval and customary closing conditions.<\/p>\n","protected":false},"excerpt":{"rendered":"Presidio Investment Holdings, LLC, a Fort Worth-based oil and gas operator specializing in mature asset optimization, announced a…\n","protected":false},"author":3,"featured_media":133308,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5138],"tags":[5229,64,5495,9604,525,7371,11095,7372,80675,8396,3345,80673,80674,358,1598,7453,3187,67,586,132,5230,68,2969],"class_list":{"0":"post-133307","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-fort-worth","8":"tag-america","9":"tag-business","10":"tag-energy","11":"tag-entrepreneurs","12":"tag-finance","13":"tag-fort-worth","14":"tag-fort-worth-inc-staff","15":"tag-fortworth","16":"tag-investment-news","17":"tag-mergers-and-acquisitions","18":"tag-oil-and-gas","19":"tag-public-companies","20":"tag-spac-deals","21":"tag-texas","22":"tag-texas-economy","23":"tag-top-story","24":"tag-tx","25":"tag-united-states","26":"tag-united-states-of-america","27":"tag-unitedstates","28":"tag-unitedstatesofamerica","29":"tag-us","30":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115002236455177698","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/133307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=133307"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/133307\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/133308"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=133307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=133307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=133307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}