Presidio Petroleum

What Presidio Petroleum does

Presidio Production Company (NYSE: FTW), operating under the brand Presidio Petroleum, is a Fort Worth-based, yield-focused oil and gas operator that acquires and optimizes mature, proved-developed-producing (PDP) wells across the Mid-Continent — specifically the Western Anadarko Basin in Texas, Oklahoma, and Kansas, with a recent expansion into the Arkoma Basin. Founded in January 2017 by Will Ulrich and Chris Hammack, the company manages more than 2,000 producing wells without drilling new ones, applying its proprietary Asset Intelligence Platform — an AI and machine learning system combined with real-time data analytics and automation — to extend asset life, reduce operating expenses, and lower emissions. The stated long-term mission frames Presidio as the 'last, best steward' of mature U.S. wells during the energy transition, with a 2030 goal of acquiring 200,000 additional wells and preventing 50 million tons of CO2e.

The business model is asset acquisition funded and commodity-revenue generated. Presidio purchases PDP packages from majors executing decarbonization-driven divestitures ($100B+ committed industry-wide) and from small private operators lacking proprietary technology, using a stacked capital structure that includes a $1.0 billion Goldman Sachs ABS warehouse facility, a $350 million investment-grade asset-backed securitization (refinanced at a 6.38% weighted average coupon in June 2026, down 184 basis points from 8.22%), and a $65 million reserve-based lending facility with Citizens Bank. Revenue is generated primarily from oil, natural gas, and NGL sales at the wellhead or at midstream inlet (recognized on a net basis as agent), with ancillary field services revenue from the wholly owned Trail Dust subsidiary (FLIR surveys, emissions reduction equipment, compression, tubing scanning, line locating). Capital is returned to shareholders through regular quarterly dividends — initiated in Q1 2026 at a $1.35 annual rate and targeted to rise to $1.50 following the Canyon Creek acquisition — yielding approximately 12.2%.

Following its March 5, 2026 NYSE listing via business combination with EQV Ventures Acquisition Corp. at a $735 million enterprise value, Presidio was added to the S&P Total Market Index and S&P Completion Index within four months, issued the oil and gas industry's first investment-grade sustainability-linked ABS (2020), and joined the UNEP Oil and Gas Methane Partnership 2.0. The Up-C corporate structure holds 27,652,068 Class A shares (publicly traded) and 1,676,830 Class B shares (PIH Rollover Holders), with the company owning 94.3% of OpCo Common Units. Since inception, Presidio has deployed over $500 million across more than 6,000 acquired wells through transactions including MidStates and Apache Western Anadarko packages and the bankruptcy-purchase of Templar Energy.

Name

Presidio Petroleum

Legal name

Presidio Production Company

Website

https://bypresidio.com

Company type

Public

Founded year

2017

Operating status

Ipo

Headcount range

11–50 employees

Short description

Presidio Production Company (NYSE: FTW) is a Fort Worth-based oil and gas operator that acquires and AI-optimizes mature, producing wells in the U.S. Mid-Continent without drilling, targeting yield-focused investors with a ~12% dividend and funded by Goldman Sachs-led acquisition financing and investment-grade ABS.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Operations

NAICS

Crude Petroleum Extraction (21112), Oil and Gas Extraction (211)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Offshore E&P (Shallow/Deepwater, Subsea Production Systems) (EUALAAAI)

Keywords

• Upstream oil and gas
• PDP asset acquisition
• Mature well optimization
• Field services compression
• Methane emissions reduction

Headquarters

HQ city

Fort Worth

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Oil Sales: Crude oil production sold at wellhead for contractually-specified index price, net of pricing differentials. Recognized at point in time when control transfers to purchaser upon delivery of specified production volumes.
2. Natural Gas Sales: Natural gas delivered to midstream processing entity at wellhead or inlet of midstream system; proceeds remitted for sales of NGLs and residue gas. Company acts as agent, recognizing revenue on net basis.
3. Natural Gas Liquids (NGL) Sales: NGL production sold through midstream processing contracts; revenues recognized net of transportation, gathering, processing, treating and compression fees as the company acts as agent.
4. Field Services Revenue: Revenue from compression services, FLIR surveys, emissions reduction equipment, tubing scanning, and line locating services provided through Trail Dust subsidiary to third-party customers including working interest partners.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Presidio Production Company is a publicly traded upstream oil and gas operator that acquires and optimizes mature, producing oil and gas wells without drilling new wells, applying its proprietary AI/ML Asset Intelligence Platform to enhance production, reduce operating expenses, and extend asset life. The company sells the resulting crude oil, natural gas, and natural gas liquids at the wellhead to enterprise energy purchasers, and provides third-party field services through its Trail Dust subsidiary. Revenue is directed toward generating sustainable cash flow to support a yield-focused quarterly dividend strategy.

Product overview

Presidio Production Company operates as a yield-focused oil and gas operator in the United States, specializing in acquiring and optimizing mature, producing oil and natural gas wells without drilling. The company's core business model centers on its Asset Intelligence Platform, which leverages AI and machine learning for real-time data analytics to enhance well performance and extend asset life. The company operates across the Western Anadarko Basin in Texas, Oklahoma, and Kansas, managing over 2,000 producing wells. Supporting operations include Trail Dust Field Services, which provides compression, FLIR surveys, emissions reduction equipment, and tubing scanning services. The company also utilizes investment-grade asset-backed securitization financing structures backed by its producing asset portfolio.

Differentiator

Problem solved

Functional benefit

Brands

• Trail Dust: Field services subsidiary providing compression, FLIR surveys, emissions reduction equipment, tubing scanning, and line locating services

Products and services

• Oil and Gas Well Acquisition and Optimization
• Trail Dust Field Services
• Crude Oil Production Sales
• Natural Gas and NGL Sales

Quantifiable outcome

• 184 basis point reduction in ABS coupon from 8.22% to 6.38%, lowering cost of capital for M&A
• +5 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature4 records

Partnerships

Six partnerships are on record, tiered flagship, core and minor.

• EQV Ventures Acquisition Corp. (EQV)flagshipStrategic or Co-development PartnerPresidio Investment Holdings LLC completed a definitive business combination with EQV Ventures Acquisition Corp., a SPAC, resulting in Presidio Production Company listing on the NYSE under ticker FTW on March 5, 2026. The transaction was valued at approximately $735 million enterprise value. EQV changed its jurisdiction from Cayman Islands to Delaware (Domestication) and was renamed Presidio MidCo Inc. PIPE financing of 8.75M shares at $10/share was arranged concurrently.
• EQV Resources LLC (EQVR)flagshipStrategic or Co-development PartnerPresidio acquired all equity interests of EQV Resources LLC, a Mid-Continent oil and gas operator, simultaneously with the EQV SPAC business combination closing on March 5, 2026. EQVR contributed additional producing assets to the combined entity. Total purchase consideration was approximately $66.8M ($29M cash + 3.4M Class A shares).
• Vortus Investments (and Additional Sellers)coreStrategic or Co-development PartnerPresidio executed definitive purchase and sale agreements to acquire Canyon Creek assets for approximately $83 million from companies controlled by Vortus Investments and additional sellers. Transaction funded through $60M cash and approximately 2.17M shares of Presidio equity, expected to close early Q3 2026. The assets produce approximately 21.4 MMcfe/d from 55 wells in the Arkoma Basin, ~70% natural gas and 30% NGLs.
• United Nations Environment Programme (UNEP)minorStrategic or Co-development PartnerPresidio is a member of UNEP's Oil and Gas Methane Partnership 2.0, an international initiative advancing best practices for methane monitoring and reduction. Membership reinforces Presidio's energy transition stewardship positioning and its sustainability-linked financing commitments.
• Continental Stock Transfer & Trust CompanyminorOthersContinental Stock Transfer & Trust Company serves as Presidio's transfer agent, managing share registry, stock transfers, and dividend distribution services for the company's NYSE-listed Class A common stock and warrants.
• ICR (Investor Relations)minorOthersICR serves as Presidio Production Company's investor relations advisory firm. Investor inquiries can be directed to [email protected]. ICR provides communications counsel and investor relations support for the publicly traded company.

Scale indicators19 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Sitio Royalties Corp. Sitio Royalties (NYSE: STR) is a yield-oriented oil and gas minerals and royalties company that aggregates non-operated interests across U.S. basins. While it is a non-operator model rather than an operator like Presidio, it competes for the same income-focused investor base targeting double-digit dividend yields from mature U.S. production.
• Viper Energy: Viper Energy (NASDAQ: VNOM) is Diamondback Energy's mineral and royalty subsidiary, aggregating non-operated interests in the Permian Basin. While basin-focused rather than multi-basin like Presidio, it competes for the same yield-seeking income investor base through a similar capital-light PDP exposure model.
• Black Stone Minerals: Black Stone Minerals (NYSE: BSM) is one of the largest U.S. owners of oil and gas mineral interests and royalties, with a yield-oriented capital return model. It is comparable to Presidio as a publicly traded, mature-asset-focused energy income vehicle.
• Mach Natural Resources: Mach Natural Resources (NYSE: MACH) is an upstream operator focused on acquiring and developing long-life, low-decline oil and gas properties in the Anadarko and other mid-Continent basins, with a stated emphasis on returning capital to shareholders. It overlaps with Presidio on geography, basin, and the PDP-acquisition playbook.
• Crescent Energy: Crescent Energy (NYSE: CRGY) is a publicly traded upstream operator pursuing a similar PDP-acquisition and consolidation strategy in U.S. onshore basins, with an explicit focus on free cash flow generation and shareholder returns. Its business model of acquiring and optimizing mature producing assets directly overlaps Presidio's AI-driven, non-drilling rollup approach.
• Granite Ridge Resources: Granite Ridge Resources (NYSE: GRNT) is a yield-focused, non-operated upstream company that aggregates working interests in mature U.S. oil and gas wells — directly comparable to Presidio's PDP-focused, dividend-oriented strategy. Both companies target stable, low-decline production with a capital-return emphasis rather than drilling growth.
• TXO Energy Partners: TXO Energy Partners (NYSE: TXO) is an upstream master limited partnership structured around mature, low-decline producing oil and gas assets with a distribution-focused model. Its emphasis on long-life reserves and capital returns mirrors Presidio's yield thesis targeting a 12%+ dividend.
• Kimbell Royalty Partners: Kimbell Royalty Partners (NYSE: KRP) is a publicly traded oil and gas minerals and royalties company with a portfolio of non-operated interests across major U.S. basins. Its dividend-yield-focused structure and aggregation strategy are directly comparable to Presidio's yield thesis.

Broad incumbents

• Baytex Energy: Baytex Energy (NYSE/TSX: BTE) is a Canadian-headquartered upstream operator with significant U.S. Eagle Ford and Permian assets following its Ranger Oil acquisition. It is a broader incumbent comparable to Presidio on the consolidation-and-yield playbook, though at materially larger scale and with Canadian geographic exposure.
• Vital Energy: Vital Energy (NYSE: VTLE, formerly Laredo Petroleum) is a publicly traded U.S. upstream operator focused on the Permian Basin, combining operated production with a disciplined capital-return program. It is a broader incumbent comparable to Presidio on operator-level scale and yield-investor appeal, though it is basin-concentrated rather than multi-basin.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/willulrich
• YouTubeyoutube.com/watch?v=WGBw3XPxrKY
• LinkedInlinkedin.com/company/presidio-petroleum-llc
• Instagraminstagram.com/presidio_petroleum

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries6 records

Funding overview

Funding rounds4 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Presidio Petroleum