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Presidio Petroleum
Presidio was founded in January 2017 by Will Ulrich, a Harvard economics graduate and former UBS banker, alongside Chris Hammack, a Texas A&M petroleum...
Presidio Petroleum
Presidio was founded in January 2017 by Will Ulrich, a Harvard economics graduate and former UBS banker, alongside Chris Hammack, a Texas A&M petroleum engineer. The firm focuses on acquiring and operating existing oil and gas wells rather than drilling new ones, a strategy the founders call 'managing the energy transition at scale' (per the firm). The company deploys capital across two channels: direct acquisitions of well interests and sustainability-linked asset-backed securities. It has deployed roughly $500 million to acquire interests in over 6,000 wells across the Anadarko Basin, including the 2018 acquisition of MidStates' Western Anadarko business and the 2019 acquisition of Apache's Western Anadarko assets (per the firm). In July 2020, Presidio issued what it describes as the oil and gas industry's first investment-grade sustainability-linked asset-backed securities (per the firm). The firm is a member of the United Nations Environment Programme's Oil and Gas Methane Partnership 2.0 (per the firm). Presidio operates from its Fort Worth headquarters and fields a management team of roughly a dozen executives covering operations, geology, finance, and legal. In March 2026, Presidio went public on the New York Stock Exchange under the ticker NYSE: FTW (per the firm). The firm also maintains an internal software development function led by David Mochulski. Presidio's structural differentiator is its explicit anti-drilling mandate: it buys wells to manage their natural decline, not to extend production. That positions the firm as an acquirer of last resort for majors selling legacy assets, while aligning its emissions reduction goal of preventing 50 million tons of CO2e by 2030 with the IEA's Net Zero roadmap.
General information
Firm type
Single Family Office
Year founded
2017
AUM
$500M - $1B (per the firm)
Location
Region
North America
Country
United States
City
Fort Worth
Corporate office
Fort Worth, TX, United States
Principals
Will Ulrich
co-CEO
Chris Hammack
co-CEO
John Brawley
CFO
Sector focus
Frequently asked questions
Who runs investment decisions at Presidio?
Investment decisions are made by co-CEOs Will Ulrich and Chris Hammack, who founded the firm in 2017. Ulrich focuses on capital allocation and returns; Hammack concentrates on field operations and personnel. The CFO, John Brawley, handles capital markets and reporting (per the firm).
How does Presidio source proprietary deal flow?
Presidio acquires interests in existing oil and gas wells, often from major operators divesting legacy assets. The firm's 2018 deal with MidStates and its 2019 acquisition of Apache's Western Anadarko business are examples of its sourcing from large sellers (per the firm).
Is Presidio structured as a family office or an asset manager?
Presidio is an asset manager that went public on the NYSE in March 2026 (ticker: FTW). Its ownership includes the founding principals and public shareholders, but the operating strategy — acquiring well interests and managing them through decline — resembles a concentrated single-asset family office approach to capital preservation.
Does Presidio participate in fund commitments or only direct deals?
Presidio does not raise external funds. It deploys balance-sheet capital and uses sustainability-linked asset-backed securities to finance acquisitions. It is a direct acquirer of well interests, not a fund-of-funds or limited partner in other vehicles (per the firm).
What investment stages does Presidio typically target?
Presidio targets mature oil and gas wells with depleting production curves. It does not engage in exploration, drilling, or development. The firm acquires assets where natural decline is already underway and operates them to maximize cash flow while minimizing emissions (per the firm).
Which sectors does Presidio explicitly avoid?
Presidio avoids any new drilling, exploration, or greenfield energy projects. It focuses exclusively on existing onshore US oil and gas wells, positioning itself as the steward of assets during the energy transition rather than a growth-oriented producer.
Where does the underlying wealth come from?
Presidio's wealth origin is not publicly disclosed. The firm is not known to manage capital for a single family dynasty. It went public in 2026, so ownership is now partially public. Prior to IPO, it was privately held by its co-founders and possibly institutional backers, but no source confirms the identity of any family behind the firm.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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