DENVER, COLORADO — January 15, 2019 — Peregrine Energy Partners has agreed to acquire producing and non-producing oil and gas royalties in Greene County, Pennsylvania from an undisclosed seller.
“This acquisition features natural gas production from a core area to EQT, the largest natural gas producer in the U.S. by volume,” said Josh Prier, Peregrine’s Managing Director. “EQT acquired these properties last year in a $6.7 billion transaction with Rice Energy.”
“In the past 2 years, EQT has added nearly 500,000 acres to their development portfolio and are now focused on execution and capital efficiency. These properties sit in their Tier 1 acreage and we’re hopeful to have put ourselves in the line of future development.”
“The Marcellus Shale is the largest known deposit of natural gas in the country and possibly in the world,” commented Peregrine’s Co-Founder C.J. Tibbs. “We continue to be impressed with the amount of resources operators are pouring into this region.”
This acquisition will go to help feed a growing demand from 1031 investors who are looking to diversify their exchange into more than traditional real estate. “Most real estate investors are just now learning that they have options when it comes to replacement property for their 1031 exchange,” said Wolf Hanschen, Co-Founder of Peregrine. “Oil and gas royalties have been used for decades by investors exiting brick and mortar real estate.”
Over the past 3 years, Peregrine has been very active in the northeast basin known as the Marcellus Shale.
About Peregrine Energy Partners — Peregrine Energy Partners is a private purchaser of oil and natural gas royalties with more than 50 years of combined experience. Since 2004, the company's founders have worked alongside hundreds of mineral owners in 30 states across millions of acres. With corporate headquarters in Dallas and an acquisition office in Denver, Peregrine provides value and optionality to royalty owners looking to maximize the value of their minerals.
For more information or to obtain a valuation, contact CJ Tibbs at (214) 329-1452 or cj@peregrinelp.com, or Josh Prier at (303) 256-6275 or josh@peregrinelp.com.