DALLAS, TEXAS — March 28, 2019 — Peregrine Energy Partners has agreed to acquire producing and non-producing oil and gas royalties in Santa Rosa County, Florida from an undisclosed seller.

The acquisition features production from multiple wells located in the Smackover Trend in the northwest Panhandle of Florida and extends into southern Alabama.

“We're very excited about our latest acquisition as it features production from 40 wells in the Jay Field, which is part of a legacy basin known for generating steady and predictable cashflow,” said Peregrine's Managing Director C.J. Tibbs. “With Breitburn Energy operating these properties, we have the confidence of buying under a well-capitalized operator who also has the technical expertise to understand the play well.”

Breitburn estimates one billion barrels of original oil in place and currently employs enhanced recovery methods to optimize production from the Jay Field. “Any time you see enhanced recovery methods, and the infrastructure that comes with that, in place, it demonstrates a level of commitment to the properties,” Mr. Tibbs remarked. “These properties fit within our acquisition criteria well as they check a number of boxes for us: shallow declines, legacy reserves, and a capable operator. We expect this to be an asset that provides solid cashflow for years to come.”

Over the past 18 months, Peregrine has been very active working with mineral owners nationwide, deploying over $45 million to mineral owners looking for divestment options for part or all of their producing royalties.

“I think with the inherent fluctuation in commodity prices, some royalty owners want to take some of that risk and uncertainty off the table,” said Josh Prier, Managing Director of Peregrine. “Many of our clients don't sit down and look at their royalties from a tax or estate planning perspective. After completing our full analysis, many of our clients are surprised to learn what they stand to gain by divesting part or all of their interests.”

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.