On August 5, 2025, Presidio Investment Holdings, LLC, a differentiated oil and gas operator focused on the optimization of mature, producing oil and natural gas assets in the United States, and EQV Ventures Acquisition Corp. (NYSE: EQV) (“EQV”), a special purpose acquisition company sponsored by EQV Group, an experienced acquirer and producer of oil and gas, announced that they have entered into a definitive business combination agreement (the “proposed business combination”). The combined company resulting from the proposed business combination is expected to be named Presidio Production Company (“Presidio”), which will be led by Presidio’s existing management team, including Will Ulrich and Chris Hammack as Co-CEOs. In connection with the proposed business combination, Presidio also entered into an agreement and plan of merger (the “proposed merger”) to acquire a complementary Texas Panhandle asset from EQV Resources LLC (“EQV Resources”), an affiliate of EQV. EQV’s sponsor and its affiliates will maintain a significant ownership stake in Presidio post-closing.

The proposed business combination will result in Presidio (as defined below) becoming a publicly listed company with an expected listing on the New York Stock Exchange under the ticker “FTW,” reflecting Presidio’s roots in Fort Worth, Texas, where it is headquartered. The combined company is expected to have an estimated post-transaction enterprise value of approximately $660 million.  

Baker Botts L.L.P. represented EQV Resources in the proposed merger.

About Presidio and EQV

Headquartered in Fort Worth, TX, Presidio is a leading operator of mature oil and gas wells across the Mid-Continent. The company is focused exclusively on optimizing existing production and generating sustainable cash flow from low-decline, producing assets.

EQV is a blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. EQV’s sponsor is an affiliate of EQV Group, which was formed in 2022 and is an active acquirer of producing reserves, completing 14 acquisitions and currently managing and operating more than 1,800 wells across 10 states.

Baker Botts Lawyers/Offices Involved:

Corporate: Doug Getten (Partner, Houston); Andrew Schulte (Partner, Houston); Clay Brett (Partner, Houston); Marisa White (Partner, New York); Catherine Ellis (Senior Associate, Houston); Parker Hinman (Senior Associate, Houston); Cade Luedde (Associate, Houston); Brevan Ward (Associate, Houston)

Global Projects: Alia Heintz (Special Counsel, Houston); Megan Young (Senior Associate, Houston); Andrew Crayden (Associate, Houston)

Finance: Clint Culpepper (Partner, Austin)

Tax: Jon Lobb (Partner, Houston); Jared Meier (Senior Associate, Houston)

Environmental: Elizabeth Singleton (Special Counsel, Houston)

Executive Compensation and Benefits: Jason Loden (Partner, Dallas)

Labor and Employment: Scott Nelson (Partner, Houston); Cynthia Washington (Special Counsel, Dallas)

International Trade: Paul Luther (Partner, Washington D.C.); Alex Reinert (Associate, Washington D.C.)

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