Presidio Investment, a portfolio company of Morgan Stanley Energy Partners, has secured an inaugural issuance of asset-backed securities in a private placement transaction with a syndicate of U.S.-based institutional investors.
According to Presidio, the notes are the largest single issuance of asset-backed securities by an energy producer, the first such issuance to a syndicate of note purchasers, and include two investment grade–rated tranches. Presidio plans to use the net proceeds to accelerate its acquisition-driven growth strategy in the mid-continent region of the United States and recapitalize its balance sheet.
Presidio was established as a differentiated oil and gas operator focused on the optimization of mature, producing oil and natural gas assets in the United States. Without drilling new wells, Presidio has achieved significant scale, growing to 38,000 barrels of oil equivalent per day of net production under management since the start of its partnershi
