Peregrine continues to maximize value for Marcellus Shale Royalty Owners
DENVER, COLORADO, UNITED_STATES, January 15, 2019 /EINPresswire.com/ — Peregrine Energy Partners has agreed to acquire producing and non-producing oil and gas royalties in Greene County, Pennsylvania from an undisclosed seller.
“This acquisition features natural gas production from a core area to EQT, the largest natural gas producer in the U.S. by volume,” said Josh Prier, Peregrine’s Managing Director.
“EQT acquired these properties last year in a $6.7 Billion transaction with Rice Energy,” Mr. Prier continued. In the past 2 years, EQT has added nearly 500,000 acres to their development portfolio and are now focused on execution and capital efficiency. These properties sit in their Tier 1 acreage and we’re hopeful to have put ourselves in the line of future development.”
Over the past 3 years, Peregrine has been very active in the north-east basin known as the Marcellus Shale. “The Marcellus Shale is the largest known deposit of natural gas in the country and possibly in the world,” commented Peregrine’s Co-Founder C.J. Tibbs. “We continue to be impressed with the amount of resources operators are pouring into this region.”
This acquisition will go to help 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 Wolf Hanschen, Co-Founder of Peregrine. “Oil and gas royalties have been used for decades by investors existing brick and mortar real estate.”
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 an acquisition office in Denver, Peregrine is dedicated to providing value and optionality to royalty owners to maximize the value of their minerals while delivering institutional quality royalty properties to clients looking for long-term monthly income from a non-correlated asset class.