MIDLAND, TEXAS — March 11, 2021 — Peregrine Energy Partners has agreed to acquire producing royalties in Andrews County, Texas from an undisclosed private seller.

The acquisition features production from multiple wells under two Permian Basin producers, Perdure Petroleum and Legacy Reserves, Inc. (NYSE: LGCY).

Peregrine worked alongside the client — a ranching family — to divest non-core royalties in order to free up capital to reinvest in desired ranching equipment.

“I was surprised and impressed with Peregrine’s communication and turnaround time,” the client commented on the acquisition.

Andrews County sits in the heart of the Wolfberry play, an interval that combines the Wolfcamp and Spraberry formations of the Midland Basin. The county has been one of the most active drilling targets in the Permian since the early 2010s.

The transaction extends Peregrine’s growing Permian footprint and reflects the firm’s focus on working directly with private sellers who have specific reinvestment goals.

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.