PRESIDIO PRODUCTION Co — Form 8-K/A
Filed September 17, 2026 · analyzed by the 8-K Agent
8-K/A
— Neutral
significance 28/100
What the filing says
Presidio Production Company (NYSE: FTW) completed acquisition of oil and gas properties in Oklahoma's Arkoma Basin from seven sellers on July 1, 2026 (Harbor Island on July 21, 2026). Total consideration: $53.1M cash and 1,962,240 Class A shares (~$24M fair value at $12.24/share). Assets include mineral interests, operating rights, and overriding royalties. Year 2025 revenues: $28.4M (oil $543K, gas $18.2M, NGL $9.7M); net revenues over direct costs: $18.3M. Funded by $55M drawdown of $1B Goldman Sachs warehouse facility. Pro forma 2025 combined revenues $228.7M; pro forma H1 2026 combined revenues $122.8M.
Why this rating
Modest bolt-on acquisition (~$77M total cost) for mid-cap E&P producer. Arkoma properties contributed <13% H1 2026 pro forma revenues. Funded from existing warehouse credit; non-dilutive transaction.
Extracted items
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