Presidio Production Co has assembled an engineering team dedicated to developing and deploying artificial intelligence workflows tailored to oil and gas producers.
The Fort Worth, Texas-based company, whose business involves acquiring producing wells, appointed former Aerospike vice president for engineering Jason Hudak as chief technology officer to lead the new AI team. Hudak’s career spans nearly three decades in some of Silicon Valley’s leading companies, with prior roles at Foursquare, RapidAPI, Twilio and Yahoo, Presidio noted.
“Under his leadership, the team is developing Presidio’s AI platform, which the company is deploying first across its own operations, where Presidio already applies data and analytics to acquire and optimize producing oil and natural gas wells”, it said in a quarterly statement.
“Presidio applies a disciplined, data-driven playbook to modernize acquired oilfield operations, transforming oil and gas assets into high-efficiency operations through repeatable systems and empowered field execution”, the company said. “The next phase of this strategy is the development and deployment of new AI workflows to enhance operations”.
This year Presidio’s Asset Intelligence Group aims to raise production by three to five percent “without any capital expenditure”.
Last month Presidio completed what it said is its second acquisition as a public company. The Canyon Creek assets, bought from several sellers including Vortus Investments, mark Presidio’s entry into the Arkoma Basin.
“The acquired position generates approximately 21 MMcfed (3.5 MBoed) of net PDP production as of May 2026, weighted approximately 70 percent to natural gas and 30 percent to natural gas liquids, with an estimated base decline of approximately 11 percent per year, and expected levered returns in excess of 20 percent”, it said.
“The acquisition market remains active. The company’s broader acquisition pipeline totals approximately $17 billion. The company remains focused on opportunities that meet its strategic and return criteria”.
In the April-June quarter Presidio produced about 22,800 barrels of oil equivalent a day (boed) – 57 percent gas, 27 percent natural gas liquids and 16 percent oil.
Presidio reported a net profit of $14.4 million, or $0.34 per share. The New York-listed company declared a dividend of $0.3375 per share for the second quarter.
Revenue was $54 million, benefiting from a realized derivatives gain of $3.31 per boe. Operating expenses stood at $11.22 per boe.
Earnings before interest, taxes, depreciation and amortization, adjusted for nonrecurring items, totaled $33.2 million.
“Results benefited from the first full quarter of the restructured hedge portfolio, together with continued operating efficiencies across the asset base”, it said.
Net debt stood at $296.5 million. “Based on $351.5 million of net debt and annualized second-quarter adjusted EBITDA of approximately $132.7 million, leverage was approximately 2.7x”, Presidio said.
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