Peregrine Adds Mineral Rights in the Bakken and Utica
Drilling rig in the Bakken Shale
DALLAS, TEXAS, UNITED STATES, February 6, 2024 /EINPresswire.com/ -- Peregrine Energy Partners has closed on producing and non-producing royalty interests in both the Bakken and Utica Shales from multiple undisclosed sellers.
The acquisitions feature production from over 120 producing wells from core areas within each basin.
“The Bakken is an area that has appealed to us for the past two decades since shale’s early days,” commented Managing Director Josh Prier. “The production profile in North Dakota is mature, consistent and predictable which will help deliver solid cashflows for years to come.”
The Utica Shale in Ohio has been commercially produced since 2011 with operators such as EOG, SWN, Chesapeake and Ascent leading the charge. Mr. Prier continued, “The gas properties in the Utica lend themselves to future development and will complement the more mature oil heavy assets from the Bakken into a diversified portfolio generating predictable monthly income with opportunity for upside.”
Two years ago, Peregrine acquired one of their largest royalty positions, also in the Utica, spanning over 340,000 gross acres in 18 counties and has since become much more active in the area.
According to C.J. Tibbs, Managing Director, “The Utica continues to prove itself not only as a one of the major natural gas basins, but also as a significant oil play with operators like EOG delivering strong early results.”
While Peregrine continues to work with individual royalty owners to provide divestment options, the firm has been especially active in working with operators, funds, partnerships, and trusts who are looking to sell down non-core, passive interests in order to put that capital to work in more active assets that deliver a higher IRR.
“We’ve been able to create a simple, fair, and painless path to exit for these groups who appreciate cleaning up their books and re-directing capital from non-core interests into active assets that they have more control over,” commented Mr. Tibbs.
Peregrine Energy Partners are private purchasers of oil and natural gas royalties with over 50 years of combined experience. Over the past 20 years, the company’s founders have enjoyed working with thousands of mineral owners in 30 states across millions of acres.
To learn more or to obtain a valuation of your minerals, contact Josh Prier at (303)-256-6275 or josh@peregrinelp.com or C.J. Tibbs at (214-329-1452 or cj@peregrinelp.com.
Josh Prier
Peregrine Energy Partners
+1 303-256-6275
email us here
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