PRESIDIO PRODUCTION Co 8-K

What Happened

• On May 7, 2026 (reported in an 8-K filed May 14, 2026), Presidio Production Company (NYSE: FTW) entered into purchase and sale agreements to acquire oil and gas leases and related interests in Oklahoma. The transaction consideration totals roughly $83 million: $60 million cash plus 2,173,913 shares of Presidio common stock. The company expects the transaction to close early in the third quarter of 2026, subject to customary closing conditions.

Key Details

• Total consideration: approximately $83 million (cash + stock).
• Cash portion: $60.0 million total.
• Stock portion: 2,173,913 shares of common stock to be issued as consideration.
• Major components:
  • Canyon Creek: $19.986M cash + 1,166,627 shares (includes a registration rights agreement).
  • Alchemist: $25.395M cash + 920,109 shares (includes a registration rights agreement).
  • Pivotal: $13.125M cash.
• The Purchase and Sale Agreements cover various leases, overriding royalty interests, operating rights and other interests in crude oil, gas and related hydrocarbons in Oklahoma.
• Closing is expected early Q3 2026 but is subject to customary conditions and there is no guarantee all conditions will be met.

Why It Matters

• This is a material acquisition (Item 1.01) that expands Presidio’s asset base in Oklahoma and involves a meaningful mix of cash and equity consideration. For investors, the deal will (1) increase the company’s outstanding shares by the issued consideration amount and may affect share float and ownership concentration, and (2) use $60M in cash at closing. The filing also includes registration rights for major sellers, meaning the issued shares are expected to be registered for resale. The company’s statements are forward-looking and subject to closing conditions and other risks disclosed in its SEC filings.