v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 2 Months Ended 3 Months Ended 4 Months Ended 6 Months Ended
Mar. 03, 2026
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Successor          
Revenues:          
Total revenues   $ 54,000   $ 69,345  
Operating expenses:          
Lease operating expenses   19,454   25,345  
Production taxes   2,945   3,968  
Ad valorem taxes   850   1,208  
Depletion, oil and gas properties   15,130   19,535  
Depreciation and amortization, other property and equipment   859   1,122  
Accretion of asset retirement obligation   1,150   1,518  
General and administrative   7,164   8,864  
Acquisition and transaction costs   544   768  
Cost of field services revenue     4  
Gain on sale of assets   (158)   (188)  
Total operating expenses   47,938   62,144  
Income (loss) from operations   6,062   7,201  
Other income (expense):          
Gain (loss) on commodity derivatives   24,823   (8,342)  
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)   (6,001)  
Other income (expense)   288   13  
Total other income (expense)   13,378   (21,681)  
Net income (loss) before income taxes   19,440   (14,480)  
Income tax benefit (expense)   (3,961)   2,993  
Net income (loss)   15,479   (11,487)  
Net income (loss) attributable to non-controlling interests   1,054   (493)  
Net income (loss) attributable to Presidio Production Company   14,425   (10,994)  
Predecessor          
Revenues:          
Total revenues $ 35,876   $ 42,623   $ 94,565
Operating expenses:          
Lease operating expenses 12,277   20,244   39,199
Production taxes 2,098   2,214   5,203
Ad valorem taxes 758   1,359   2,643
Depletion, oil and gas properties 4,276   7,283   14,564
Depreciation and amortization, other property and equipment 673   759   1,549
Accretion of asset retirement obligation 643   1,027   2,035
General and administrative 48,649   1,195   17,701
Acquisition and transaction costs 6,993   353   775
Cost of field services revenue 9   (43)   136
Gain on sale of assets (816)   (894)   (5,793)
Total operating expenses 75,560   33,497   78,012
Income (loss) from operations (39,684)   9,126   16,553
Other income (expense):          
Gain (loss) on commodity derivatives (27,905)   22,580   4,056
Change in fair value of earnout liability    
Loss on early extinguishment of debt    
Interest expense (3,920)   (6,115)   (12,434)
Other income (expense) 170   (157)   (293)
Total other income (expense) (31,655)   16,308   (8,671)
Net income (loss) before income taxes (71,339)   25,434   7,882
Income tax benefit (expense)   (962)   (962)
Net income (loss) (71,339)   24,472   6,920
Net income (loss) attributable to non-controlling interests    
Net income (loss) attributable to Presidio Production Company (71,339)   24,472   6,920
Oil sales | Successor          
Revenues:          
Total revenues   30,673   39,476  
Oil sales | Predecessor          
Revenues:          
Total revenues 12,017   20,580   43,062
Natural gas sales | Successor          
Revenues:          
Total revenues   7,645   9,675  
Natural gas sales | Predecessor          
Revenues:          
Total revenues 17,497   10,754   26,790
Natural gas liquids sales | Successor          
Revenues:          
Total revenues   15,381   19,806  
Natural gas liquids sales | Predecessor          
Revenues:          
Total revenues 6,207   11,015   24,080
Field services revenue | Successor          
Revenues:          
Total revenues   $ 301   $ 388  
Field services revenue | Predecessor          
Revenues:          
Total revenues $ 155   $ 274   $ 633
Class A Common Stock | Successor          
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  
PIH Class A Unit | Predecessor          
Net income (loss) per Class A common stock:          
Basic $ (616.17)   $ 211.37   $ 59.77
Diluted $ (616.17)   $ 211.37   $ 59.77
Weighted average Class A common stock outstanding:          
Basic 115,778   115,778   115,778
Diluted 115,778   115,778   115,778

Source

10-Q XBRL Zip