Presidio Production完成8300萬美元收購Canyon Creek資產 擬上調年度股息至1.50美元

EX-99.1
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ea029700101ex99-1.htm
PRESS RELEASE, DATED JULY 2026

 

Exhibit 99.1

 

PRESIDIO CLOSES CANYON CREEK ACQUISITION

 

July 2, 2026 4:01 PM EDT

 

Expected dividend increase to $1.50 per share

 

FORT WORTH, Texas—(BUSINESS WIRE)—Presidio
Production Company (NYSE: FTW) (“Presidio” or the “Company”) today announced the closing of its acquisition of
the Canyon Creek assets (the “Transaction”) from companies controlled by Vortus Investments and additional sellers (the “Sellers”).
The closing marks the first use of the Company’s ABS Warehouse Facility of up to $1.0 billion, led by Goldman Sachs.

 

The Transaction is Presidio’s second acquisition
as a public company and its first in the Arkoma Basin. It establishes a platform for future consolidation under the Company’s land-and-expand
strategy. The Company believes the Transaction will support an increase to its anticipated annualized dividend rate from $1.35 to $1.50
per share, subject to approval by the Board of Directors.

 

“This is the second of many expected acquisitions,
a low-decline, cash-flowing asset that fits the Company’s criteria perfectly. We look forward to increasing the dividend while realizing
strong returns as we take over the asset. We are also pleased to welcome Citizens, our RBL lender, into our ABS Warehouse Facility in
conjunction with our first funding,” said Will Ulrich, Chairman and Co-CEO of Presidio.

 

Chris Hammack, Co-CEO and Director of Presidio,
continued, “This transaction establishes our entry into the Arkoma Basin, where we see a compelling opportunity to build scale through
consolidation using the same land-and-expand strategy we’ve successfully executed in the Western Anadarko. We believe these assets
are an excellent fit for Presidio’s operating model, and we intend to deploy our proven playbook of disciplined execution, Al-enabled
analytics, and operational excellence to drive lower costs, optimize production, improve well-level margins, and maximize long-term value
for our shareholders.”

 

Acquisition Highlights

 

●Purchase price of approximately $83 million 

 

●Strategic entry into the Arkoma Basin

 

●Net PDP production of approximately 21 MMcfe/d
as of May 2026, from 55 producing wells (70% natural gas, 30% NGLs), with an 11% annual decline

 

●Estimated Proved Developed Producing PV-10 of
approximately $100 million

 

●Estimated Net Proved Developed Producing Reserves
of approximately 100 Bcfe

 

●Expected year-one free cash flow yield in excess
of 20%

 

●Expected levered returns in excess of 20%

 

ABS Financing

 

The Transaction was funded through the Company’s
first draw of $55 million under its ABS Warehouse Facility, led by Goldman Sachs. Citizens Bank, N.A., the Company’s RBL lender,
joined the facility with a 40% participation, broadening the lender base and enhancing the facility’s capacity to scale for future
acquisitions.

 

Issuance of Shares

 

In connection with the Transaction, the Company
issued 1,962,240 new shares of Class A common stock to the Sellers.

 

  

  

 

 

Hedging Program

 

The following table summarizes Presidio’s
commodity hedge position as of the date of this release.

 

 
   
 3Q26  
 4Q26  
 1Q27  
 2Q27  
 3Q27  
 4Q27  
 FY28  
 FY29  
 Beyond 

 
 Oil Swaps 
    
    
    
    
    
    
    
    
   

 
 Volume (MBbl) 
  273  
  266  
  255  
  248  
  242  
  237  
  887  
  756  
  937 

 
 Avg. Strike ($/Bbl) 
 $60.01  
 $60.59  
 $87.90  
 $108.14  
 $100.59  
 $88.02  
 $63.17  
 $67.55  
 $64.38 

 
 Natural Gas Swaps 
     
     
     
     
     
     
     
     
    

 
 Volume (BBtu) 
  7,429  
  7,183  
  6,865  
  6,624  
  6,520  
  6,388  
  24,143  
  20,232  
  55,761 

 
 Avg. Strike ($/MMBtu) 
 $5.29  
 $5.30  
 $4.94  
 $4.30  
 $3.43  
 $3.76  
 $3.56  
 $3.58  
 $3.48 

 
 Natural Gas Basis Swaps 
     
     
     
     
     
     
     
     
    

 
 Volume (BBtu) 
  7,090  
  6,961  
  6,070  
  5,847  
  5,763  
  5,647  
  21,357  
  8,663  
  — 

 
 Avg. Strike ($/MMBtu) 
 $(0.57) 
 $(0.41) 
 $0.11  
 $(0.55) 
 $(0.49) 
 $(0.40) 
 $(0.42) 
 $(0.52) 
  — 

 
 NGL Swaps 
     
     
     
     
     
     
     
     
    

 
 Volume (MBbl) 
  627  
  613  
  593  
  580  
  528  
  517  
  1,748  
  1,322  
  1,316 

 
 Avg. Strike ($/Bbl) 
 $23.05  
 $23.14  
 $24.86  
 $23.02  
 $26.76  
 $25.66  
 $25.52  
 $23.41  
 $21.49 

 

  

Advisors

 

Opportune Partners LLC served as financial advisor
to Presidio. Latham & Watkins LLP and Sidley Austin LLP served as legal counsel to Presidio. Conner & Winters LLP, Akin Gump Strauss
Hauer & Feld LLP, and Holland & Knight LLP served as counsel for various Sellers.

 

About Presidio

 

Headquartered in Fort Worth, TX, Presidio Production
Company (NYSE: FTW) is a yield-focused, differentiated oil and gas operator in the United States focused on the acquisition and optimization
of producing oil and natural gas wells, without drilling. Presidio is a leading operator of stable oil and gas wells across the Mid-Continent,
applying engineering expertise and AI-driven analytics to enhance performance and extend asset life. The Company’s Class A common
stock is listed on the New York Stock Exchange under the ticker symbol “FTW”. To learn more, visit https://bypresidio.com/.

 

Forward-Looking Statements

 

The statements contained in this press release
that are not purely historical are forward-looking statements. These forward-looking statements include, but are not limited to, statements
regarding our expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections,
forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,”
“project,” “should,” “would” and similar expressions may identify forward-looking statements, but
the absence of these words does not mean that a statement is not forward-looking.

 

The forward-looking statements contained in this
press release are based on our current expectations and beliefs concerning future developments and their potential effects on the Company.
There can be no assurance that future developments affecting the Company will be those that we have anticipated. These forward-looking
statements speak only as of the date this press release is issued and involve a number of risks, uncertainties (some of which are beyond
our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied
by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of our assumptions
prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

 

 2

  

 

 

Factors that may cause actual results to differ
materially from current expectations include, but are not limited to: (1) the ability to recognize the anticipated benefits of the Transaction,
which may be affected by, among other things, competition, the ability of the Company to reduce operating costs, grow and manage growth
profitably, maintain relationships with customers and suppliers, successfully integrate the Canyon Creek assets into the assets of the
Company and retain its management and key employees; (2) changes in applicable laws or regulations; (3) the possibility that the Company
may be adversely affected by other economic, business, and/or competitive factors; (4) changes in domestic and foreign business, market,
financial, political conditions, and in applicable laws and regulations; (5) the ability to meet stock exchange listing standards; (6)
risks related to commodity price volatility and its impact on cash flows and dividend sustainability; (7) risks related to oil and gas
operations, including production declines, operational challenges, and regulatory changes; (8) risks related to the Company’s ability
to pay, maintain or increase dividend payments; and (9) other risk factors described herein as well as the risk factors and uncertainties
described in documents filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”), the sections entitled
“Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” and similar sections in its filings
with the SEC, and any periodic Exchange Act reports filed with the SEC such as its Annual Reports on Form 10-K, Quarterly Reports on Form
10-Q, and Current Reports on Form 8-K. The recipient of this press release should carefully consider the foregoing risk factors and the
other risks and uncertainties which will be more fully described in the documents filed by the Company from time to time with the SEC.
If any of these risks materialize or the underlying assumptions prove incorrect, actual results could differ materially from the results
implied by these forward-looking statements.

 

In addition, there may be additional risks that
the Company does not presently know, or that it currently believes are immaterial, that could also cause actual results to differ from
those contained in the forward-looking statements. Nothing in this communication should be regarded as a representation or warranty, either
express or implied, by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which
speak only as of the date they are made.

 

In addition, the information contained in this
press release is provided as of the date hereof and may change, and the Company and its representatives and affiliates specifically disclaim
any obligation to, and do not intend to, update or revise any forward-looking statements, whether as a result of new information, inaccuracies,
future events or otherwise, except as may be required under applicable securities laws. Information contained on our website is not a
part of or incorporated into this press release. Dividends are not guaranteed and may be adjusted, suspended, or discontinued at the discretion
of the Board of Directors based on liquidity, legal surplus, business conditions, commodity price volatility, market conditions and other
factors.

 

Contacts

 

Presidio Media and Investor Contact:

Connor Fair, Director of Investor Relations
[email protected]

 

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