Vinson & Elkins Advises TD Cowen on $660 Million Presidio Petroleum SPAC Merger with EQV Ventures
On August 5, 2025, Presidio Petroleum, an oil and gas operator headquartered in Ft. Worth, Texas with more than 2,000 wells in Texas, Oklahoma, and Kansas, entered into a definitive business combination agreement with EQV Ventures Acquisition Corp. (“EQV”), a special purpose acquisition company sponsored by EQV Group, that will result in Presidio becoming a publicly listed company.
The newly formed entity is expected to have an enterprise value of $660 million, including assets acquired from EQV Resources in connection with the transaction. To finance the transaction, EQV has entered into agreements for approximately $85 million in common stock PIPE investments, which is anchored by strategic and institutional investors, including a major oil and gas company.
Vinson & Elkins advised TD Cowen, who served as financial advisor and lead capital markets advisor to EQV and as placement agent on the PIPE investment, in connection with the transaction. The Vinson & Elkins team was led by partner Ramey Layne and senior associate Layton Suchma, with assistance from associate Caroline Oakley.
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