DALLAS, TX, December 12, 2019 — Peregrine Energy Partners has agreed to acquire producing and non-producing oil and gas royalties in Webb County, Texas from an undisclosed seller.
This acquisition features production from an operator who’s been active in the Eagle Ford shale for nearly 20 years, and is among the largest operators in Webb County.
“We’re very excited about our latest acquisition as it features production under Lewis Energy, which is an operator with over 1,500 producing wells across 450,000 acres in the play,” said Peregrine’s Managing Director, CJ Tibbs. “The technical expertise that a Lewis brings is considerable as Webb County is in their back yard and has been for decades.” Continued Mr. Tibbs, “Lewis has been consistent in its ability to generate steady and predictable cashflow from these properties, and we’re optimistic to be royalty owners under some of their core acreage.”
“Many people are surprised to know that Webb County is the 2nd largest gas producing County in Texas” commented Josh Prier, Peregrine’s Director of Acquisitions. “These properties fit within our acquisition criteria well as they check a number of boxes for us including shallow declines, solid reserves and a very capable operator,” Mr. Prier added. “We expect this to be an asset that provides solid cashflow for years to come, and will continue to look for other similar properties nationwide.”
Peregrine has been very active working with mineral owners nationwide in 2019, deploying over $25 million 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 Wolf Hanschen, Managing Director of Peregrine. “Many of our clients don’t sit down and look at their royalties from a tax or estate planning perspective,” Hanschen 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 firstname.lastname@example.org.
Peregrine Energy Partners
email us here