PRESIDIO PRODUCTION Co
For the period ended Jun 30, 2026. Filed Aug 13, 2026.
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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.
Jun 30, 2026 · Filed Aug 13, 2026
FTW$10.07-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, except per share amounts)
| Successor · Predecessor · Successor · Predecessor | |||||
|---|---|---|---|---|---|
| Three Months Ended | Three Months Ended | March 4, 2026 to | January 1, 2026 to | Six Months Ended | |
| June 30, 2026 | June 30, 2025 | June 30, 2026 | March 3, 2026 | 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 Statements of Redeemable Preferred Stock and Stockholders’/Members’ Equity (Deficit) (Unaudited)
(in thousands)
| Predecessor | Members’ Deficit |
|---|---|
| Balance at December 31, 2024 | $(27,858) |
| Capital distributions | (60,000) |
| Net loss | (17,552) |
| Balance at March 31, 2025 | $(105,410) |
| Capital distributions | — |
| Net income | 24,472 |
| Balance at June 30, 2025 | $(80,938) |
| Balance at December 31, 2025 | $(31,983) |
| Net loss | (71,339) |
| Balance at March 3, 2026 | $(103,322) |
| Redeemable Preferred Stock · Total Stockholders’ | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Series A · Series B Convertible · Equity Attributable | |||||||||||||
| Redeemable · Redeemable · Class A · Class B · Additional · to Presidio · Total | |||||||||||||
| Preferred Stock · Preferred Stock · Common Stock · Common Stock · Paid-In · Accumulated · Production · Non-controlling · Stockholders’ | |||||||||||||
| Successor | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Capital | Deficit | Company | Interest | Equity |
| Balance at March 4, 2026 | — | $— | — | $— | — | $— | — | $— | $— | $(13,085) | $(13,085) | $— | $(13,085) |
| Conversion of Class A ordinary shares and Class B ordinary shares into Class A common stock | 7,794,445 | 1 | 15,084 | 15,085 | 15,085 | ||||||||
| Reclassification of Class B ordinary shares subject to earnout arrangement | 1,851,161 | — | (14,896) | (14,896) | (14,896) | ||||||||
| Deferred tax effects of earnout arrangement | 3,325 | 3,325 | 3,325 | ||||||||||
| Issuance of equity consideration in Business Combination | 1,717,391 | — | 1,000,658 | 18,749 | 18,749 | 10,925 | 29,674 | ||||||
| Issuance of Class A and Class B common stock in settlement of PIH share-based compensation liability | 3,551,594 | 1 | 676,172 | 38,775 | 38,776 | 7,382 | 46,158 | ||||||
| Issuance of equity consideration in EQVR Acquisition | 3,422,260 | — | 37,363 | 37,363 | 37,363 | ||||||||
| Issuance of Series A redeemable preferred stock and warrants, net of issuance costs and discounts | 125,000 | 110,494 | 9,149 | 9,149 | 9,149 | ||||||||
| Preferred dividends attributable to Series A redeemable preferred stock | 375 | (1,125) | (1,125) | (1,125) | |||||||||
| Issuance of Series B convertible redeemable preferred stock, net of issuance costs and discounts | 27,173 | 24,701 | — | — | |||||||||
| Excise tax imposed on common stock redemptions | (1,303) | (1,303) | (1,303) | ||||||||||
| Issuance of Class A common stock in connection with PIPE financing, net of issuance costs | 9,315,217 | 1 | 82,250 | 82,251 | 82,251 | ||||||||
| Share-based compensation | 434 | 434 | 434 | ||||||||||
| Net loss | (25,419) | (25,419) | (1,547) | (26,966) | |||||||||
| Balance at March 31, 2026 | 125,000 | $110,869 | 27,173 | $24,701 | 27,652,068 | $3 | 1,676,830 | $— | $188,930 | $(39,629) | $149,304 | $16,760 | $166,064 |
| Class A dividends and dividend reinvestment program shares | 34,677 | — | 375 | (2,612) | (2,237) | (2,237) | |||||||
| Dividends attributable to Preferred Investor Warrants | (95) | (95) | (95) | ||||||||||
| Preferred dividends attributable to Series B redeemable preferred stock | (275) | (275) | (275) | ||||||||||
| Paid-in-kind preferred dividends issued attributable to Series A redeemable preferred stock | 375 | — | — | ||||||||||
| Preferred dividends attributable to Series A redeemable preferred stock | 1,254 | (3,761) | (3,761) | (3,761) | |||||||||
| Dividend equivalents on restricted stock units, net of forfeitures | (219) | (219) | (219) | ||||||||||
| Distributions to non-controlling interests | (170) | (170) | |||||||||||
| Share-based compensation | 2,219 | 2,219 | 2,219 | ||||||||||
| Net income | 14,425 | 14,425 | 1,054 | 15,479 | |||||||||
| Balance at June 30, 2026 | 125,375 | $112,123 | 27,173 | $24,701 | 27,686,745 | $3 | 1,676,830 | $— | $191,524 | $(32,166) | $159,361 | $17,644 | $177,005 |
The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.