v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Successor    
Current assets:    
Cash and cash equivalents $ 20,690  
Restricted cash 10,822  
Accounts receivable, oil and gas 21,791  
Accounts receivable, joint interest owners 11,094  
Derivative assets - current 52,856  
Prepaid expenses and other current assets 2,279  
Total current assets 119,532  
Oil and natural gas properties, successful efforts 698,766  
Less accumulated depletion, depreciation, and amortization (4,406)  
Total oil and natural gas properties, net 694,360  
Other property and equipment, net 5,020  
Derivative assets - noncurrent 4,340  
Right-of-use assets 102  
Deferred tax assets - noncurrent 4,053  
Other noncurrent assets 2,089  
Total assets 829,496  
LIABILITIES, REDEEMABLE PREFERRED STOCK, AND STOCKHOLDERS’ EQUITY / MEMBERS’ DEFICIT    
Accounts payable 24,457  
Production taxes payable 3,801  
Revenue and royalties payable 24,364  
Derivative liabilities - current 35,090  
Current portion of long-term debt 45,791  
Lease liabilities, current 106  
Other current liabilities 18,545  
Total current liabilities 152,154  
Long-term debt, net 259,388  
Asset retirement obligations 79,061  
Lease liabilities  
Derivative liabilities - noncurrent 22,459  
Earnout liability 14,800  
Total liabilities 527,862  
Commitments and Contingencies (Note 14)  
Stockholders’ equity / members’ deficit    
Members’ deficit  
Additional paid-in capital 188,930  
Accumulated deficit (39,629)  
Total stockholders’ equity attributable to Presidio Production Company / members’ deficit 149,304  
Non-controlling interest 16,760  
Total stockholders’ equity / members’ deficit 166,064  
Total liabilities, redeemable preferred stock and stockholders’ equity / members’ deficit 829,496  
Successor | Related Party    
LIABILITIES, REDEEMABLE PREFERRED STOCK, AND STOCKHOLDERS’ EQUITY / MEMBERS’ DEFICIT    
Related party payable  
Predecessor    
Current assets:    
Cash and cash equivalents   $ 4,119
Restricted cash   11,222
Accounts receivable, oil and gas   16,666
Accounts receivable, joint interest owners   11,815
Derivative assets - current  
Prepaid expenses and other current assets   1,927
Total current assets   45,749
Oil and natural gas properties, successful efforts   529,096
Less accumulated depletion, depreciation, and amortization   (204,639)
Total oil and natural gas properties, net   324,457
Other property and equipment, net   5,457
Derivative assets - noncurrent  
Right-of-use assets   135
Other noncurrent assets   2,119
Total assets   377,917
LIABILITIES, REDEEMABLE PREFERRED STOCK, AND STOCKHOLDERS’ EQUITY / MEMBERS’ DEFICIT    
Accounts payable   17,706
Production taxes payable   3,188
Revenue and royalties payable   20,223
Derivative liabilities - current   7,465
Current portion of long-term debt   45,363
Lease liabilities, current   144
Other current liabilities   23,032
Total current liabilities   118,504
Long-term debt, net   225,143
Asset retirement obligations   59,519
Lease liabilities  
Derivative liabilities - noncurrent   6,734
Earnout liability  
Total liabilities   409,900
Commitments and Contingencies (Note 14)  
Stockholders’ equity / members’ deficit    
Members’ deficit   (31,983)
Additional paid-in capital  
Accumulated deficit  
Total stockholders’ equity attributable to Presidio Production Company / members’ deficit   (31,983)
Non-controlling interest  
Total stockholders’ equity / members’ deficit   (31,983)
Total liabilities, redeemable preferred stock and stockholders’ equity / members’ deficit   377,917
Predecessor | Related Party    
LIABILITIES, REDEEMABLE PREFERRED STOCK, AND STOCKHOLDERS’ EQUITY / MEMBERS’ DEFICIT    
Related party payable   1,383
Series A Redeemable Preferred Stock | Successor    
LIABILITIES, REDEEMABLE PREFERRED STOCK, AND STOCKHOLDERS’ EQUITY / MEMBERS’ DEFICIT    
Preferred stock, value 110,869  
Series A Redeemable Preferred Stock | Predecessor    
LIABILITIES, REDEEMABLE PREFERRED STOCK, AND STOCKHOLDERS’ EQUITY / MEMBERS’ DEFICIT    
Preferred stock, value  
Series B Redeemable Preferred Stock | Successor    
LIABILITIES, REDEEMABLE PREFERRED STOCK, AND STOCKHOLDERS’ EQUITY / MEMBERS’ DEFICIT    
Preferred stock, value 24,701  
Series B Redeemable Preferred Stock | Predecessor    
LIABILITIES, REDEEMABLE PREFERRED STOCK, AND STOCKHOLDERS’ EQUITY / MEMBERS’ DEFICIT    
Preferred stock, value  
Class A Common Stock | Successor    
Stockholders’ equity / members’ deficit    
Common stock, value 3  
Class A Common Stock | Predecessor    
Stockholders’ equity / members’ deficit    
Common stock, value  
Class B Common Stock | Successor    
Stockholders’ equity / members’ deficit    
Common stock, value  
Class B Common Stock | Predecessor    
Stockholders’ equity / members’ deficit    
Common stock, value  

Source

10-Q XBRL Zip