Presidio Petroleum closed on an inaugural issuance of asset-backed securities expected to enable the Fort Worth, Texas-based team to pursue additional acquisitions.

“The Presidio management team has established a strong track record of strategic consolidation of legacy assets in the Anadarko Basin,” commented Robert Lee, managing director of Morgan Stanley Energy Partners, in a company release on Aug. 4.

The issuance of term asset-backed securities was made to Presidio Petroleum, a portfolio company of Morgan Stanley Energy Partners, in a private placement transaction with a syndicate of U.S.-based institutional investors. The transaction follows the successful integration of three previously announced acquisitions in the Midcontinent region since the establishment of Presidio’s partnership with Morgan Stanley Energy Partners in 2018.

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