DALLAS, TEXAS — August 17, 2021 — Peregrine Energy Partners has expanded its acquisition model to include non-producing minerals in the Midland and Delaware Basins of the Permian.

The two non-producing mineral properties total over 400 net royalty acres, core to both Pioneer Natural Resources and Chevron with active development in the offsetting acreage.

Pioneer Natural Resources is the largest oil producer in Texas, with over 800,000 net acres in the Midland Basin. Chevron’s Delaware position, anchored by its 2020 Noble Energy acquisition, sits in the most actively-drilled part of the Permian.

“Pivoting from a strictly producing-royalty model to include high-quality non-producing minerals reflects continued demand from Permian operators for available acreage to develop,” the Peregrine team noted. “We expect to see these mineral acres permitted and drilled within the next 12–24 months.”

The expansion into non-producing minerals follows a year of strong Permian drilling activity, with rig counts in the basin recovering from the 2020 downturn to drive renewed leasing demand.

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.