One-Page Deal Sheet
PE-Backed Presidio Buys Templar Energy MidCon Assets
Presidio Petroleum LLC Templar Energy LLC
Announced Date
July 13,2020
Close Date
August 06,2020
Transaction Type
Corporate
Enterprise Value (EV)($MM)
91
Asset/Basin:
["Anadarko Basin"]
TargetZones:
["Granite Wash", "ST
Net Acres
% Oil:
Location
Calculated Metrics( EV/Category)
Region
Mid-Continent
Country
United States
State
Oklahoma
County
Wheeler ,Hemphill ,Roberts ,Lipscomb
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Require Private Equity Subscription
Presidio Petroleum LLC has outbid frontrunner Zarvona for Templar Energy's assets with a $91 million "stalking horse" bid according to court documents.
The deal was finalized on August 6, 2020.
Prior to Presidio's offer, top bidders for the assets had included Tapstone at $65 million (June 25, 2020) and Zarvona at $88 million.
Presidio is backed by Morgan Stanley. Templar is backed by First Reserve Corp.
MidCon-focused Templar filed for bankruptcy in early June 2020 after its borrowing base was cut below its existing debt levels ($437 million in outstanding debt as of August 2019). Its credit…
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