Texas- based royalty buyer acquires over 400 net royalty acres in Midland & Reeves Counties.
DALLAS, UNITED STATES, August 17, 2021 /EINPresswire.com/ — Peregrine Energy Partners (“Peregrine”) has expanded their model, recently closing on two non-producing mineral properties in the Midland and Delaware Basins.
The acquisitions, from undisclosed sellers, features over 400 net royalty acres and represent acreage core to both Pioneer and Chevron with active development in the offsetting acreage.
“We’ve always been a PDP focused shop,” said Peregrine’s Co-Founder Wolf Hanschen, “But it was hard to ignore the demand out there for this type of asset.” Hanschen continued, “Because so much of our deal flow is organically sourced, it just didn’t make sense to ignore the opportunities we were seeing as we came across Permian owners looking for divestment options.”
Pioneer is one of the most active operators in the Basin, currently contributing 24 rigs to their ongoing development of the area.” Hanschen commented, “Our Delaware acquisition was a part of the 92,000 net acres Chevron recently acquired in Reeves County from Noble Energy. We faced notable competition over the course of both acquisitions, but our simple, quick and no-nonsense closing process won the Sellers over in the end.”
In each of these particular transactions, Peregrine worked with individual mineral owners interested in taking advantage of current acreage offers as well as potentially getting ahead of proposed tax legislation.
Peregrine’s Managing Director Josh Prier noted, “Higher oil prices and uncertainty in the tax code has definitely brought Sellers back to the table.” “We’ve spoken with a number of folks who have a large portion of their net worth tied to their minerals and are concerned with concentration risk as they go through their estate planning.”
To learn more about working with Peregrine on their efforts in the Permian, reach out to Wolf Hanschen at 214-483-1997 or email@example.com.
About Peregrine Energy Partners
Peregrine Energy Partners are private purchasers of oil and natural gas minerals and 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.