Acquisition Stretches Across 36 Counties in the Northeast
DALLAS, TEXAS, November 10, 2020 – Peregrine Energy Partners (“Peregrine”) announced the recent acquisition of producing mineral interests covering almost 3,000 net mineral acres throughout the Appalachian Basin.
The diversified mineral portfolio spans 36 counties, the bulk of which are located in gas-heavy regions of Pennsylvania and West Virginia. The acquired acreage includes over 300 producing wells under 22 operators including Range Resources (NYSE: RRC), Cabot Oil & Gas Corporation (NYSE: COG), and EQT Corporation (NYSE: EQT).
“We are excited about this latest acquisition as the geographic and operational footprint adds to our already diverse portfolio in the Northeast,” said C.J. Tibbs, Peregrine Managing Partner. “These properties had all of the qualities we look for in terms of low decline rates and therefore steady cash flows. We are optimistic that the improved outlook for natural gas prices will drive further activity across the non-producing sections of this acreage.”
Over the past several months, Peregrine worked closely with a family office who decided to simplify their estate as they worked to limit succession issues and eliminate the family’s ongoing management burdens associated with such a complex mineral portfolio.
Tibbs continued, “The asset management component can become very time-consuming and expensive, especially if this isn’t your core business. We are having more and more of these conversations with royalty owners who are looking to simplify their lives and/or spend more time in their core business as opposed to the ongoing management of their royalty interests.”
About Peregrine Energy Partners
Peregrine Energy Partners are private purchasers of oil and natural gas royalties with over 50 years of combined experience. Over the past 16 years, the company’s founders have enjoyed working with hundreds of mineral owners in 30 states across millions of acres. To learn more about Peregrine Energy Partners, please visit www.peregrinelp.com.