DENVER, COLORADO — April 8, 2021 — Peregrine Energy Partners has agreed to acquire producing royalties across Garfield and Mesa Counties, Colorado from a private seller.

Peregrine finalized the royalty acquisition with over 100 natural gas wells under Caerus Oil & Gas, an active and private oil & gas producer. Caerus is a leading local operator in the Piceance and Uinta Basins, with core assets that include more than 6,800 producing wells and a substantial undeveloped acreage position with over 8,000 future drilling locations.

Peregrine's client in this transaction was a colleague in the oil and gas royalty space. The acquisition developed as the client reviewed options around their portfolio and underwent strategic planning for the future — interested in high-grading their portfolio and fast-forwarding cashflow from a passive income stream to redeploy capital toward more core areas of their business. Peregrine was approached because of its standing reputation for transparency throughout the process and ability to close quickly. The speedy and accurate process allowed the client to receive capital within a matter of weeks.

“We are starting to have more and more conversations with colleagues from the industry in this same vein,” said Peregrine Managing Partner C.J. Tibbs. “With pricing coming back to above pre-pandemic levels, there are folks in the royalty space now interested in potentially divesting pieces of their portfolios to return some liquidity to their investors and simplify some of the back-office accounting challenges associated with fractionalized 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.