DALLAS, TEXAS, January 13, 2020 — Peregrine Energy Partners has agreed to acquire producing and non-producing oil and gas royalties in Orange and Los Angeles Counties, California from an undisclosed seller.
This acquisition features production from a pure-play operator in one of the oldest producing oilfields in the LA Basin.
“We’re very excited about our latest acquisition as it features production from 170 wells in the Brea-Olinda Oil Field which is a legacy field that’s been in production since the early 1900’s and has been consistent in its ability to generate steady and predictable cash flow.” According to Peregrine’s Managing Director Josh Prier. “With Bridge Energy operating these properties,” Mr. Prier added, “we have the confidence in buying under a well-capitalized operator whose entire corporate focus and expertise lie in operating these specific properties as efficiently as possible.”
“Royalty interests in an area like the Brea-Olinda Field are rare to come across, largely in part to the prolific reserves and stable production profile this area is known to hold.” Mr. Prier continued. “These properties fit within our acquisition criteria well as they check a number of boxes for us; shallow declines, legacy reserves and a very capable operator.” Mr. Prier continued, “we expect this to be an asset that provides solid cash flow for years to come, and will continue to look for other similar properties nationwide.”
Peregrine has been very active working with mineral owners nationwide, deploying over $25 million annually to mineral owners looking for divestment options for part or all of their producing royalties.
“I think with the inherent fluctuation in commodity prices, some royalty owners want to take some of that risk and uncertainty off the table” said CJ Tibbs, Managing Director of Peregrine. “Many of our clients don’t sit down and look at their royalties from a tax or estate planning perspective,” Tibbs remarked. “After completing our full analysis, many of our clients are surprised to learn what they stand to gain by divesting part or all of their interests.”
Peregrine Energy Partners are private purchasers of oil and natural gas royalties with over 50 years of combined experience. Over the past 15 years, the company’s founders have enjoyed working with hundreds of mineral owners in 30 states across millions of acres.
With its corporate headquarters in Dallas and acquisition offices in Denver, Peregrine is dedicated to providing value and optionality to royalty owners to maximize the value of their minerals.
To learn more or to obtain a valuation of your minerals, contact Josh Prier at (303)-256-6275 or josh@peregrinelp.com.
Josh Prier
Peregrine Energy Partners
+1 303-828-8318
email us here
