v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 1 Months Ended 2 Months Ended 3 Months Ended
Mar. 31, 2026
Mar. 03, 2026
Mar. 31, 2025
Successor      
Revenues:      
Total revenues $ 15,346    
Operating expenses:      
Lease operating expenses 5,890    
Production taxes 1,024    
Ad valorem taxes 358    
Depletion, oil and gas properties 4,406    
Depreciation and amortization, other property and equipment 263    
Accretion of asset retirement obligation 368    
General and administrative 1,699    
Acquisition and transaction costs 224    
Cost of field services revenue 4    
Gain on sale of assets (30)    
Total operating expenses 14,206    
Income (loss) from operations 1,140    
Other income (expense):      
Loss on commodity derivatives (33,165)    
Change in fair value of earnout liability 96    
Interest expense (1,715)    
Other income (expense) (275)    
Total other income (expense) (35,059)    
Net loss before income taxes (33,919)    
Income tax benefit 6,953    
Net loss (26,966)    
Net loss attributable to non-controlling interests (1,547)    
Net loss attributable to Presidio Production Company $ (25,419)    
Net loss per Class A common stock:      
Basic (in Dollars per share) $ (0.99)    
Diluted (in Dollars per share) $ (0.99)    
Weighted average Class A common stock outstanding:      
Basic (in Shares) 26,738,407    
Diluted (in Shares) 26,738,407    
Predecessor      
Revenues:      
Total revenues   $ 35,876 $ 51,942
Operating expenses:      
Lease operating expenses   12,277 18,955
Production taxes   2,098 2,989
Ad valorem taxes   758 1,284
Depletion, oil and gas properties   4,276 7,281
Depreciation and amortization, other property and equipment   673 790
Accretion of asset retirement obligation   643 1,008
General and administrative   48,649 16,506
Acquisition and transaction costs   6,993 422
Cost of field services revenue   9 179
Gain on sale of assets   (816) (4,899)
Total operating expenses   75,560 44,515
Income (loss) from operations   (39,684) 7,427
Other income (expense):      
Loss on commodity derivatives   (27,905) (18,524)
Change in fair value of earnout liability  
Interest expense   (3,920) (6,319)
Other income (expense)   170 (136)
Total other income (expense)   (31,655) (24,979)
Net loss before income taxes   (71,339) (17,552)
Income tax benefit  
Net loss   (71,339) (17,552)
Net loss attributable to non-controlling interests  
Net loss attributable to Presidio Production Company   (71,339) (17,552)
Oil sales | Successor      
Revenues:      
Total revenues $ 8,803    
Oil sales | Predecessor      
Revenues:      
Total revenues   12,017 22,482
Natural gas sales | Successor      
Revenues:      
Total revenues 2,030    
Natural gas sales | Predecessor      
Revenues:      
Total revenues   17,497 16,036
Natural gas liquids sales | Successor      
Revenues:      
Total revenues 4,425    
Natural gas liquids sales | Predecessor      
Revenues:      
Total revenues   6,207 13,065
Field services revenue | Successor      
Revenues:      
Total revenues $ 88    
Field services revenue | Predecessor      
Revenues:      
Total revenues   $ 155 $ 359
Class A Common Stock | Successor      
Net loss per Class A common stock:      
Basic (in Dollars per share) $ (0.99)    
Diluted (in Dollars per share) $ (0.99)    
Weighted average Class A common stock outstanding:      
Basic (in Shares) 26,738,407    
Diluted (in Shares) 26,738,407    
PIH Class A Unit | Predecessor      
Net loss per Class A common stock:      
Basic (in Dollars per share)   $ (616.17) $ (151.6)
Diluted (in Dollars per share)   $ (616.17) $ (151.6)
Weighted average Class A common stock outstanding:      
Basic (in Shares)   115,778 115,778
Diluted (in Shares)   115,778 115,778

Source

10-Q XBRL Zip