PRESIDIO PRODUCTION Co

For the period ended Mar 31, 2026. Filed May 15, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 15, 2026

FTW$10.07-0.5%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Cash Flows (Unaudited)

(in thousands)

Successor · Predecessor
	March 4, 2026	January 1, 2026	Three Months Ended
	to March 31, 2026	to March 3, 2026	March 31, 2025
Cash flows from operating activities:
Net loss	$(26,966)	$(71,339)	$(17,552)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depletion, oil and gas properties	4,406	4,276	7,281
Depreciation and amortization, other property and equipment	263	673	790
Accretion of asset retirement obligation	368	643	1,008
Settlement of asset retirement obligation liabilities	(95)	—	(228)
Deferred tax benefit	(6,953)	—	—
Amortization of debt issuance costs	47	273	450
Amortization of debt premiums	(431)	—	—
Loss on commodity derivatives	33,165	27,905	18,524
Net settlements of commodity derivatives	(6,243)	(10,621)	(10,205)
Cash paid for modification of derivative contracts, net of realized loss	(57,816)	—	—
Stock compensation expense	434	46,982	—
Change in fair value of earnout liability	(96)	—	—
Gain on sale of assets	(30)	(816)	(4,899)
Changes in operating assets and liabilities, net of effects from acquisition:
Accounts receivable	4,776	(5,573)	(2,404)
Prepaid expenses and other current assets	(656)	38	518
Other noncurrent assets	8	22	(40)
Accounts payable	5,674	(567)	(2,020)
Related party payable	(1,383)	—	—
Other current liabilities	(35,610)	13,306	(1,533)
Net cash provided by (used in) operating activities	(87,138)	5,202	(10,310)
Cash flows from investing activities:
Capital expenditures for oil and natural gas properties	(165)	(553)	(650)
Purchases of other property and equipment	(15)	(431)	(581)
Proceeds from sale of assets	1,225	816	4,899
Acquisition, net of cash acquired	(145,527)	—	—
Net cash provided by (used in) investing activities	(144,482)	(168)	3,668
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	—	—
Proceeds from long-term debt	37,000	4,000	146
Repayments of long-term debt	(12,597)	(5,191)	(10,361)
Payments of debt issuance costs	(2,606)	(9)	—
Payments on finance lease liabilities	(85)	(198)	(230)
Cash settlement of PIH share-based compensation liability	(265)	—	—
Member distributions	—	—	(60,000)
Net cash provided by (used in) financing activities	248,042	(1,398)	(70,445)
Net increase (decrease) in cash, cash equivalents, and restricted cash	16,422	3,636	(77,087)
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	$31,512	$18,977	$25,200
Supplemental cash flow information:
Cash paid for interest	$1,733	$3,721	$6,299
Stock issued for acquisitions	$67,850	$—	$—
Satisfaction of liability-classified share-based payment awards	$46,982	$—	$—
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$21	$42	$61

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