DALLAS, TEXAS, UNITED STATES, February 19, 2019 /EINPresswire.com/ — FOR IMMEDIATE RELEASE
Peregrine Acquires Interest in Williams County, ND
Denver, CO – February 19, 2019
Peregrine Energy Partners has agreed to acquire producing and non-producing oil and gas royalties in Williams County, North Dakota from an undisclosed seller. This acquisition features production from a core area within a pure-play operators’ development plan in the prolific Bakken Shale.
According to Peregrine’s Managing Director CJ Tibbs, “Peregrine has been fortunate to work with royalty owners in the Bakken Shale for over a decade now. It’s an area we know well and will continue to look for strategic opportunities in as we believe in it long-term.”
Operated by Zavanna, the properties in Williams County are among the most important assets in the operator’s portfolio. “Zavanna is an operator focused exclusively on two counties within the Bakken Shale,” Mr. Tibbs remarked. “Because their operations are so granular in focus, they are among the most efficient operators in the Basin.”
“With Zavanna continuing to expand their footprint in the Bakken, as well as focus technologies towards an infill program,” Mr. Tibbs added, “we expect this to be an asset that provides solid cashflow for years to come.”
Over the past 18 months, Peregrine has been very active working with mineral owners nationwide, deploying over $40 million to mineral owners looking for divestment options for part or all of their producing royalties.
“I think with the fluctuating oil and gas prices out there, some royalty owners want to take some of that risk off the table” said Wolf Hanschen, Co-Founder 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 appraisal, 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.