Presidio Investment Holdings LLC ("Presidio" or the "Company"), a differentiated oil and gas operator focused on the acquisition and optimization of mature, producing oil and natural gas assets in the United States, and EQV Ventures Acquisition Corp. (NYSE:FTW) ("EQV"), a special purpose acquisition company, today announced that Presidio has entered into a letter of intent ("LOI") to acquire certain producing assets in the Arkoma Basin from companies controlled by Vortus Investments ("Vortus" or the "Seller") for $80 million (the "Acquisition"), subject to customary due diligence, definitive documentation, and closing conditions.
Presidio intends to fund a portion of the Acquisition with cash on hand, funds from its recently announced Goldman Sachs ABS Warehouse Facility, and approximately $20 million of Presidio equity provided to the Seller. Presidio anticipates negotiation of definitive documentation, signing and closing could occur within the second quarter of 2026. Presidio believes it will be able to increase its anticipated annual dividend from $1.35 to $1.50 after closing this transaction, subject to approval by the Board of Directors of the post-business combination company.