NYSE: FTW
PRESIDIO PRODUCTION CoCIK 0002083125 · SIC 1311 · Crude Petroleum & Natural Gas
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8-K
Filed Aug 17, 2026
· Period ending Aug 17, 2026
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8-K
Filed Aug 14, 2026
· Period ending Aug 11, 2026
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424B3
Filed Aug 13, 2026
Red flag
Presidio Production Co (FTW) files 424B3 prospectus; no new offering terms disclosed
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424B3
Filed Aug 13, 2026
Presidio Production Co (FTW) files 424B3 for resale of up to 29.8M shares and 133K warrants by selling securityholders, plus 11.9M shares upon warrant exercise
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10-Q
Filed Aug 13, 2026
· Period ending Jun 30, 2026
Summary not yet generated.
424B3
Filed Aug 12, 2026
Summary not yet generated.
S-1/A
Filed Aug 7, 2026
Summary not yet generated.
S-1
Filed Jul 30, 2026
Summary not yet generated.
8-K
Filed Jul 8, 2026
· Period ending Jul 1, 2026
Summary not yet generated.
424B3
Filed Jul 8, 2026
Summary not yet generated.
8-K
Filed Jun 18, 2026
· Period ending Jun 17, 2026
Summary not yet generated.
8-K
Filed Jun 11, 2026
· Period ending Jun 9, 2026
Summary not yet generated.
424B3
Filed Jun 11, 2026
Summary not yet generated.
10-Q
Filed May 15, 2026
· Period ending Mar 31, 2026
Summary not yet generated.
8-K
Filed May 14, 2026
· Period ending May 7, 2026
Summary not yet generated.
8-K
Filed Mar 9, 2026
· Period ending Mar 4, 2026
Summary not yet generated.
Latest financial statements
From 10-Q filed Aug 13, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, except per share amounts)
| Description | Successor three months ended June 30, 2026 | Successor three months ended June 30, 2025 | Predecessor March 4, 2026 to June 30, 2026 | Successor January 1, 2026 to March 3, 2026 | Predecessor six months ended June 30, 2025 |
|---|---|---|---|---|---|
| Revenues: | |||||
| Oil sales | 30,673 | 20,580 | 39,476 | 12,017 | 43,062 |
| Natural gas sales | 7,645 | 10,754 | 9,675 | 17,497 | 26,790 |
| Natural gas liquids sales | 15,381 | 11,015 | 19,806 | 6,207 | 24,080 |
| Field services revenue | 301 | 274 | 388 | 155 | 633 |
| Total revenues | 54,000 | 42,623 | 69,345 | 35,876 | 94,565 |
| Operating expenses: | |||||
| Lease operating expenses | 19,454 | 20,244 | 25,345 | 12,277 | 39,199 |
| Production taxes | 2,945 | 2,214 | 3,968 | 2,098 | 5,203 |
| Ad valorem taxes | 850 | 1,359 | 1,208 | 758 | 2,643 |
| Depletion, oil and gas properties | 15,130 | 7,283 | 19,535 | 4,276 | 14,564 |
| Depreciation and amortization, other property and equipment | 859 | 759 | 1,122 | 673 | 1,549 |
| Accretion of asset retirement obligation | 1,150 | 1,027 | 1,518 | 643 | 2,035 |
| General and administrative | 7,164 | 1,195 | 8,864 | 48,649 | 17,701 |
| Acquisition and transaction costs | 544 | 353 | 768 | 6,993 | 775 |
| Cost of field services revenue | — | (43) | 4 | 9 | 136 |
| Gain on sale of assets | (158) | (894) | (188) | (816) | (5,793) |
| Total operating expenses | 47,938 | 33,497 | 62,144 | 75,560 | 78,012 |
| Income (loss) from operations | 6,062 | 9,126 | 7,201 | (39,684) | 16,553 |
| Other income (expense): | |||||
| Gain (loss) on commodity derivatives | 24,823 | 22,580 | (8,342) | (27,905) | 4,056 |
| Change in fair value of earnout liability | (2,972) | — | (2,876) | — | — |
| Loss on early extinguishment of debt | (4,475) | — | (4,475) | — | — |
| Interest expense | (4,286) | (6,115) | (6,001) | (3,920) | (12,434) |
| Other income (expense) | 288 | (157) | 13 | 170 | (293) |
| Total other income (expense) | 13,378 | 16,308 | (21,681) | (31,655) | (8,671) |
| Net income (loss) before income taxes | 19,440 | 25,434 | (14,480) | (71,339) | 7,882 |
| Income tax benefit (expense) | (3,961) | (962) | 2,993 | — | (962) |
| Net income (loss) | 15,479 | 24,472 | (11,487) | (71,339) | 6,920 |
| Net income (loss) attributable to non-controlling interests | 1,054 | — | (493) | — | — |
| Net income (loss) attributable to Presidio Production Company | 14,425 | 24,472 | (10,994) | (71,339) | 6,920 |
| Net income (loss) per Class A common stock: | |||||
| Basic | 0.34 | (0.61) | |||
| Diluted | 0.34 | (0.61) | |||
| Weighted average Class A common stock outstanding: | |||||
| Basic | 26,756,317 | 26,751,925 | |||
| Diluted | 26,756,317 | 26,751,925 | |||
| Net income (loss) per PIH Class A unit, basic and diluted | 211.37 | (616.17) | 59.77 | ||
| Weighted average PIH Class A units outstanding, basic and diluted | 115,778 | 115,778 | 115,778 | ||
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except par values and share data)
| Description | Successor June 30, 2026 | Predecessor December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 42,317 | 4,119 |
| Restricted cash | 11,278 | 11,222 |
| Accounts receivable, oil and gas | 18,105 | 16,666 |
| Accounts receivable, joint interest owners | 10,623 | 11,815 |
| Derivative assets current | 54,555 | — |
| Hedge receivable | 6,586 | — |
| Prepaid expenses and other current assets | 2,414 | 1,927 |
| Total current assets | 145,878 | 45,749 |
| Oil and natural gas properties, successful efforts | 693,519 | 529,096 |
| Less accumulated depletion, depreciation, and amortization | (19,535) | (204,639) |
| Total oil and natural gas properties, net | 673,984 | 324,457 |
| Other property and equipment, net | 4,590 | 5,457 |
| Derivative assets noncurrent | 11,058 | — |
| Right-of-use assets | 3,561 | 135 |
| Deferred tax assets noncurrent | 182 | — |
| Other noncurrent assets | 8,491 | 2,119 |
| Total assets | 847,744 | 377,917 |
| LIABILITIES, REDEEMABLE PREFERRED STOCK, AND STOCKHOLDERS’ EQUITY / MEMBERS’ DEFICIT | ||
| Current liabilities: | ||
| Accounts payable | 15,696 | 13,174 |
| Production taxes payable | 3,570 | 3,188 |
| Revenue and royalties payable | 26,071 | 20,223 |
| Derivative liabilities current | 10,946 | 7,465 |
| Hedge payable | 10,092 | 4,532 |
| Current portion of long-term debt | 35,836 | 45,363 |
| Lease liabilities, current | 299 | 144 |
| Related party payable | — | 1,383 |
| Other current liabilities | 21,090 | 23,032 |
| Total current liabilities | 123,600 | 118,504 |
| Long-term debt, net | 307,236 | 225,143 |
| Asset retirement obligations | 79,921 | 59,519 |
| Lease liabilities | 3,328 | — |
| Derivative liabilities noncurrent | 2,058 | 6,734 |
| Earnout liability | 17,772 | — |
| Total liabilities | 533,915 | 409,900 |
| Commitments and Contingencies (Note 14) | ||
| Series A redeemable preferred stock, $0.0001 par value; 50,000,000 total shares authorized for all preferred stock series, 125,375 shares issued and outstanding as of June 30, 2026 | 112,123 | — |
| Series B convertible redeemable preferred stock, $0.0001 par value; 50,000,000 total shares authorized for all preferred stock series, 27,173 shares issued and outstanding as of June 30, 2026 | 24,701 | — |
| Stockholders’ equity / members’ deficit | ||
| Members’ deficit | — | (31,983) |
| Class A common stock, $0.0001 par value; 1,500,000,000 shares authorized, 27,686,745 shares issued and outstanding as of June 30, 2026 | 3 | — |
| Class B common stock, $0.0001 par value; 100,000,000 shares authorized, 1,676,830 shares issued and outstanding as of June 30, 2026 | — | — |
| Additional paid-in capital | 191,524 | — |
| Accumulated deficit | (32,166) | — |
| Total stockholders’ equity attributable to Presidio Production Company / members’ deficit | 159,361 | (31,983) |
| Non-controlling interest | 17,644 | — |
| Total stockholders’ equity / members’ deficit | 177,005 | (31,983) |
| Total liabilities, redeemable preferred stock and stockholders’ equity / members’ deficit | 847,744 | 377,917 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Successor March 4, 2026 to June 30, 2026 | Successor January 1, 2026 to March 3, 2026 | Predecessor six months ended June 30, 2025 |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net (loss) income | (11,487) | (71,339) | 6,920 |
| Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: | |||
| Depletion, oil and gas properties | 19,535 | 4,276 | 14,564 |
| Depreciation and amortization, other property and equipment | 1,122 | 673 | 1,549 |
| Accretion of asset retirement obligation | 1,518 | 643 | 2,035 |
| Settlement of asset retirement obligation liabilities | (385) | — | (448) |
| Deferred tax benefit | (3,083) | — | — |
| Amortization of debt issuance costs | 295 | 273 | 877 |
| Amortization of debt premiums | (1,116) | — | — |
| Loss on early extinguishment of debt | 4,475 | — | — |
| Loss (gain) on commodity derivatives | 8,342 | 27,905 | (4,056) |
| Net settlements of commodity derivatives | 619 | (10,621) | (17,335) |
| Cash paid for modification of derivative contracts, net of realized loss | (92,816) | — | — |
| Stock compensation expense | 2,653 | 46,982 | — |
| Change in fair value of earnout liability | 2,876 | — | — |
| Reduction of operating lease liabilities | 61 | — | (3) |
| Gain on sale of assets | (188) | (816) | (5,793) |
| Changes in operating assets and liabilities, net of effects from acquisition: | |||
| Accounts receivable | 8,933 | (5,573) | 1,657 |
| Hedge receivable | (6,586) | — | — |
| Hedge payable | (570) | 6,090 | (2,659) |
| Prepaid expenses and other current assets | (792) | 38 | (514) |
| Other noncurrent assets | (4,002) | 22 | (233) |
| Accounts payable | 7,575 | (6,657) | 1,871 |
| Related party payable | (1,383) | — | — |
| Other current liabilities | (33,512) | 13,306 | 252 |
| Net cash provided by (used in) operating activities | (97,916) | 5,202 | (1,316) |
| Cash flows from investing activities: | |||
| Capital expenditures for oil and natural gas properties | (749) | (553) | (1,323) |
| Purchases of other property and equipment | (444) | (431) | (521) |
| Proceeds from sale of assets | 7,214 | 816 | 5,793 |
| Acquisition, net of cash acquired | (145,527) | — | — |
| Net cash provided by (used in) investing activities | (139,506) | (168) | 3,949 |
| Cash flows from financing activities: | |||
| Proceeds from issuance of Class A common stock in connection with PIPE financing, net of issuance costs | 82,251 | — | — |
| Proceeds from issuance of Series A redeemable preferred stock and warrants, net of issuance costs and discounts | 119,643 | — | — |
| Proceeds from issuance of Series B convertible redeemable preferred stock, net of issuance costs and discounts | 24,701 | — | — |
| Payments of dividends | (3,359) | — | — |
| Payments of dividend equivalents | (219) | — | — |
| Proceeds from long-term debt | 387,000 | 4,000 | 213 |
| Repayments of long-term debt | (322,453) | (5,191) | (24,228) |
| Payments of debt issuance costs | (11,205) | (9) | — |
| Payments on finance lease liabilities | (167) | (198) | (745) |
| Cash settlement of PIH share-based compensation liability | (265) | — | — |
| Member distributions | — | — | (60,000) |
| Net cash provided by (used in) financing activities | 275,927 | (1,398) | (84,760) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 38,505 | 3,636 | (82,127) |
| Cash, cash equivalents, and restricted cash at beginning of period | 15,090 | 15,341 | 102,287 |
| Cash, cash equivalents, and restricted cash at end of period | 53,595 | 18,977 | 20,160 |
| Supplemental cash flow information: | |||
| Cash paid for interest | 7,105 | 3,721 | 12,382 |
| Stock issued for acquisitions | 67,850 | — | — |
| Satisfaction of liability-classified share-based payment awards | 46,982 | — | — |
| Right-of-use assets obtained in exchange for new operating lease liabilities | 3,546 | — | — |
| Cash paid for amounts included in the measurement of lease liabilities: | |||
| Operating cash flows from operating leases | 83 | 42 | 122 |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except per share amounts); (in thousands, except par values and share data); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗