DALLAS, TEXAS, UNITED STATES, July 11, 2023/EINPresswire.com/ — Peregrine Energy Partners rounds out an active Q2 with acquisitions of producing mineral rights in the Eagleford and Permian Basins.
“Sometimes the upside expectations in basins like these can preclude Peregrine from being competitive,” commented Josh Prier, Peregrine’s Managing Director. “In this case, however, we were fortunate to work with sellers who had already enjoyed the bulk of development on their properties and were now more interested in monetizing the tail on the engineering curve and redeploying those proceeds into other more core areas.”
While a deal size was not specified, Mr. Prier said that the cash flow from the two properties averaged around $300,000 per month.
Peregrine has been one of the more active players in the producing royalty space over the past few years, acquiring over 4,400 mineral acres in major basins including the Permian, Eagle Ford, Marcellus, Anadarko, Bakken, Piceance, and the North Slope in Alaska. The company focuses exclusively on producing oil and gas royalties and works directly with mineral owners as well as industry professionals and operators to source royalty properties.
“Most of our success these past couple of years has been working with groups in the energy space who are looking to clean-up their books, streamline their accounting, and divest royalty interests that they have, often by accident, acquired over time,” said Peregrine’s Co-Founder Wolf Hanschen. “While these groups have nothing against royalties, continued Mr. Hanschen, “they’ve realized the opportunity cost of keeping these non-core, passive interests on the balance sheet, especially when debt financing is significantly higher today.”
The acquisition of producing mineral rights is certainly not a new concept, with hundreds of firms like Peregrine targeting interests across the U.S. When asked about Peregrine’s point of difference, C.J. Tibbs, Peregrine’s Co-Founder commented, “Peregrine is 100% internally funded which means a lot less red tape and bureaucracy compared to other groups. If sellers want a painless evaluation and quick closing, our combined 50 years in the producing mineral space lends itself to just that.”
About Peregrine Energy Partners
Peregrine Energy Partners is a private purchaser of oil and natural gas royalties with over 50 years of combined experience. Over the past 19 years, the company’s founders have enjoyed working with dozens of operators as well as hundreds of mineral owners in 30 states across millions of acres.
To learn more about Peregrine Energy Partners contact C.J. Tibbs at (214)-329-1452 CJ@peregrinelp.com or Josh Prier at (303)-256-6275 josh@peregrinelp.com.
