DALLAS, TEXAS — July 11, 2019 — Peregrine Energy Partners has agreed to acquire producing oil and gas royalties in Allegheny County, Pennsylvania from an undisclosed seller. The acquisition features production from multiple natural gas wells operated by Range Resources Corporation (NYSE: RRC).

“Range Resources continues to be one of the most capital-efficient operators in the southwest Marcellus,” said Peregrine Managing Director C.J. Tibbs. “They have committed 90% of their 2019 capital program to the Marcellus, which gives us confidence in the long-term development outlook under their wells.”

Range produced approximately 2,225 Mmcfe/day in the first quarter of 2019. The operator's southwest Pennsylvania position covers more than 850,000 net acres in the Marcellus and Utica Shales.

“Allegheny County may be best known for Pittsburgh, but the surrounding rural townships have some of the best natural gas wells in the basin,” added Josh Prier, Managing Director of Peregrine. “We continue to look for additional opportunities to add long-life Marcellus royalty cashflows to the portfolio.”

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.