MOUNDSVILLE, WEST VIRGINIA — March 2, 2021 — Peregrine Energy Partners has agreed to acquire additional producing and non-producing oil and gas royalties in Marshall County, West Virginia from an undisclosed seller.
The acquisition features production from multiple oil and gas wells under Marcellus Shale producer, Chevron (NYSE: CVX), whose production in the region was taken over by EQT (NYSE: EQT) in October of 2020.
“We have been following EQT’s development of their Appalachian assets over the past few years and continue to be impressed with their results,” said Peregrine Co-Founder, Wolf Hanschen. “When they announced their acquisition of Chevron’s Appalachia interests in October of last year, we started looking closer at properties that would be included in this purchase, especially knowing EQT is one of the most active operators in the region.”
“Shallow declines, a best-in-class operator, and legacy reserves,” added Managing Director Josh Prier. “We expect this to be an asset that provides solid cashflow for years to come and will continue to look for additional similar opportunities both here in West Virginia and nationwide.”
EQT is the largest natural gas producer in the United States by volume, with over 1.9 million net acres in the core of the Appalachian Basin. The 2020 Chevron acquisition added approximately 125,000 net acres in the Marcellus and Utica Shales to EQT’s footprint.
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.