Presidio Acquires Canyon Creek For ~$83M; Believes Transaction Will Support Increase To Its Anticipated Annualized Dividend Rate From $1.35

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. Acquisition Highlights Purchase price of approximately $83 million Strategic entry into the Arkoma Basin Net PDP production of approximately 2...