Presidio Petroleum

Presidio Petroleum LLC operates as a specialized energy company focused on the acquisition and optimization of mature oil and natural gas properties in established U.S. onshore basins. Co-founded in January 2017 by Chris Hammack and Will Ulrich, who both serve as Co-CEOs, the firm was established with a clear objective: to apply engineering efficiency and technology to enhance the value of existing energy assets. Hammack brings over two decades of energy sector experience, with a background in operational efficiency and cost management, having previously served as CEO of Trinity River Energy. Ulrich contributes nearly 20 years of expertise in energy and finance, including a significant role at Atlas Energy, and holds an Economics degree from Harvard College.

The company's business model is centered on acquiring under-managed, producing oil and gas wells and improving their performance through technology, rather than engaging in capital-intensive drilling and exploration. This strategy involves deploying automation, real-time data analytics, and artificial intelligence to boost operational efficiency and profitability. Presidio's revenue is generated from the sale of oil and natural gas produced from its portfolio of assets. A core tenet of its strategy is aligning with the energy transition by declining oil and gas production and reducing emissions, in support of the IEA’s “Net Zero by 2050” roadmap. In July 2021, the company issued the first-ever investment-grade, sustainability-linked asset-backed securities by an oil and gas producer.

Since its inception, Presidio has executed a series of strategic acquisitions, backed by a majority equity investment from Morgan Stanley Energy Partners in May 2018. Key milestones include the acquisition of assets from Midstates Petroleum (May 2018), Apache Corporation (July 2019), and Templar Energy (July 2020), significantly expanding its footprint in the Anadarko Basin across Texas, Oklahoma, and Kansas. In August 2025, Presidio entered into a business combination agreement with EQV Ventures Acquisition Corp., a special purpose acquisition company (SPAC), to become a publicly listed company named Presidio Production Company. This transaction, valuing the combined entity at an enterprise value of approximately $660 million, is intended to provide a platform for scaling its yield-focused model and pursuing further accretive acquisitions.

Keywords: oil and gas optimization, mature assets, energy asset acquisition, Anadarko Basin, production efficiency, asset-backed securities, energy transition, emissions reduction, engineering efficiency, digital oilfield, SPAC merger, producing properties, petroleum production, hydrocarbon asset management, operational excellence, energy finance, yield-driven, Will Ulrich, Chris Hammack, Morgan Stanley Energy Partners