DALLAS, TX, December 18, 2017 – Peregrine 1031 Energy Partners, a company assisting 1031 investors in diversifying their exchange, has agreed to acquire producing and non-producing oil and gas royalties in Kern County, California from an undisclosed seller.
One of Peregrine’s Directors, Josh Prier, applauds the acquisition efforts, stating, “We have been fortunate to work with this client a few times over our careers and couldn’t be happier with this latest transaction.”
The acquisition features production from hundreds of currently producing wells in the prolific Monterey Shale oil basin. Mr. Prier added, “Kern County is known for having some of the lowest decline profiles in the United States, which is important to long-term, consistent production and stability.”
This acquisition will feed a growing demand from 1031 investors who are looking to diversify their exchange into more than traditional real estate. “Most real estate investors are just now learning that they have options when it comes to replacement property for their 1031 exchange,” said the Co-Founder of Peregrine, Wolf Hanschen. “Oil and gas royalties have been used for decades by investors existing brick and mortar real estate.”
Peregrine 1031 Energy Partners is a private acquisition and divestment firm of oil and natural gas royalties with over 45 years of combined experience. Over the past two decades, the team of energy experts at Peregrine has worked to place over $250 million of cash and 1031 exchange dollars.