PRESIDIO PRODUCTION Co

$1bn committed across 1 active facility, next covenant test Sep 30, 2026. FTW · FTW-WT

Crude Petroleum & Natural Gas

Recent changes

Jul 8, 2026PRESIDIO PRODUCTION Co signs $1bn LOAN AND SECURITY AGREEMENT, matures Jul 2029 SEC ↗

CovenantTestedHeadroomLimit now

Tested quarterlyHeadroom not yet measured1.10x

Equity cure available.

With respect to the Closing Date Tranche, the Borrower will not permit the Debt Service Coverage Ratio thereof as of the last day of each fiscal quarter for the Measurement Period ending on such date to be less than 1.10 to 1.00.

Read the filing on sec.gov ↗

Tested quarterlyHeadroom not yet measured0.70

From thereafter · 0.65

Equity cure available.

With respect to the Closing Date Tranche, the Borrower will not permit the LTV Ratio as of the last day of each fiscal quarter (i) for the period commencing with the first full fiscal quarter ending after the Closing Date through the fifth full fiscal quarter, to be greater than seventy percent (70%)

Read the filing on sec.gov ↗

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LOAN AND SECURITY AGREEMENT

Signed Jul 1, 2026

Committed: $1bn
Matures: Jul 2029
Agent: Goldman Sachs Bank USA

Tranche	Size	Matures	Margin
Closing Date Tranche	$55m	Jul 2029	300–500 bps
Delayed Draw Tranche	$945m	n/a	300–500 bps

Priced over Term SOFR, floor 0 bps (Term Loan B, Delayed draw term loan).

Level	Condition	Margin	Unused fee
Level Initial period	from Credit Date until Initial Step-Up Period	300 bps	n/a
Level Initial Step-Up Period	during Initial Step-Up Period	400 bps	n/a
Level Second Step-Up Period	during Second Step-Up Period	500 bps	n/a

Lenders: Goldman Sachs Bank USA, Citizens Bank, N.A.

No amendments on file yet.

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