DALLAS, TEXAS, October 1, 2020 — Peregrine Energy Partners has agreed to acquire producing mineral rights across 4,755 gross acres in Bradford County, PA for an undisclosed sum.
The producing natural gas acquisition is operated by Chief Oil & Gas and includes both producing and non-producing mineral rights. This represents the third acquisition of the year for Peregrine in this region of the Appalachia Basin.
“While we’ve traditionally been more active in the southwest portion of the state, we love the fundamentals of the northeast Marcellus Shale and have an internal goal to expand our footprint in those counties,” said Josh Prier, Managing Director of Peregrine.
Peregrine worked alongside the private sellers, a retired couple, who had the end-goal of simplifying their estate and reducing their overall tax bill. After reviewing the engineered evaluation of the property and comparing the estimated taxes on long-term gains vs. ordinary income, the couple decided it made sense to divest the interest and fast-forward the income.
Wolf Hanschen, Peregrine’s Co-Founder, commented, “One of our top objectives is to be a reliable and valued resource for our clients, whether they decide to sell or not. We know the decision to divest part or all of their royalties can be complicated, and each client’s situation is different. Accordingly, we strive to give them insight based on their specific circumstances as they look to understand the options in front of them.”
Despite the turbulent energy market in 2020, Peregrine has remained an active buyer of producing royalties throughout the year, often partnering with local land professionals to help connect with owners looking for a fast, fair, and simple sale process.
“The fourth quarter is usually one of our busier times of the year,” said C.J. Tibbs, Co-Founder of Peregrine.” Mr. Tibbs continues, “Around this time of year, owners are focused on estate clean-up and tax planning while local land professionals are looking for a strong finish to the year.”
To obtain an evaluation of your royalty interest or discuss ways to partner on potential acquisitions, please reach out to C.J. Tibbs at (214) 329-1432 or cj@peregrinelp.com or Josh Prier at (303) 256-6275 or josh@peregrinelp.com.
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.
