DALLAS, TEXAS, August 6, 2020 — Peregrine Energy Partners has agreed to acquire producing royalties in Fayette County, PA from a private seller.
Peregrine has been focused on working with and providing solutions for natural gas owners and their families, as this marks their 10th acquisition in the Marcellus Shale during 2020.
The company continues to pursue exclusively producing oil and gas royalties and works directly with mineral owners as well as land professionals and industry contacts across the United States to source royalty properties.
This year, Peregrine has found that an increased number of clients have decided to explore different financial options for themselves and their families. “Our clients are looking for quick and simple divestment solutions to provide them with flexibility as they reevaluate their retirement or succession plans. They want stability for their families and see that the immediate cash flow and tax benefits outweigh potential market volatility and a payout over time,” said C.J. Tibbs, Peregrine Co-Founder.
Tibbs continued, “At Peregrine, our goals are to deliver a transparent analysis of our client’s asset to them, help them understand all their options around that property so they can make decisions for both their short and long-term future, and to provide financial opportunities when appropriate.”
The transaction featured production from 15 wells currently operated by Chevron. “This acquisition had all of the characteristics we look for in royalty properties due largely in part to the more stable production and shallow decline rates,” says Josh Prier, Peregrine Managing Director. “We will continue to look for more opportunities, nationwide, where we can provide options and financial relief to royalty owners.”