Presidio Production closes USD 83 million Canyon Creek asset acquisition

Presidio Production Company Class A

Presidio Production Company Class A

FTW

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  • Presidio Production closed its acquisition of the Canyon Creek assets from Vortus Investments-controlled sellers for about $83 million.
  • Deal marks its first entry into the Arkoma Basin; net PDP output about 21 MMcfe/d from 55 wells, 11% annual decline.
  • Transaction funded with a first draw of $55 million under an ABS warehouse facility of up to $1 billion led by Goldman Sachs.
  • Company expects the deal to support raising its annualized dividend rate to $1.5 per share from $1.35, subject to board action.


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