Peregrine Energy Partners Acquires Producing Royalties in Doddridge County, West Virginia
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Peregrine Energy Partners has agreed to acquire producing royalties in Doddridge County, West Virginia from several private sellers.
Continuing their string of acquisitions in the Appalachian Basin, Peregrine finalized the acquisition of royalties in 17 producing natural gas wells across three units under Antero Resources and Jay-Bee Oil and Gas. Antero is the largest natural gas producer in West Virginia with over 451,000 net acres in the Marcellus Shale and another 91,000 net acres in the Utica Shale.
“We will continue to look for properties with a similar profile in the Marcellus; a diversified well count generating consistent cashflows with single digit decline rates under a well-capitalized, pure-play operator,” said Josh Prier, Peregrine managing director.
Peregrine is focused on working with and providing solutions for royalty owners and their families. Throughout the acquisition period, the company worked closely with multiple related royalty owners who had inherited this asset. The family’s initial goal was to solve succession issues to avoid fractionalizing the property further. However, after learning the significant financial opportunity and tax benefit of divesting now instead of receiving the passive income over the next handful of decades, the family decided to fast-forward the income.
The Texas-based royalty buyer has been actively acquiring in the Marcellus Shale as well as across the country since the company’s inception. The current state of the economy and fluidity of the oil & gas industry has Peregrine committed and focused in their efforts to provide clients with reliable and valuable insight throughout their client’s decision-making process.
“Today more than ever, our clients are realizing the importance of diversification. Most of a royalty owner’s wealth is either in their home or their royalties. You cannot diversify your house, but you can with your royalties, and we are here to help owners do just that,” said C.J. Tibbs, Peregrine Co-Founder.
About Peregrine Energy Partners
Peregrine Energy Partners are private purchasers of oil and natural gas royalties with over 50 years of combined experience. Over the past 16 years, the company’s founders have enjoyed working with hundreds of mineral owners in 30 states across millions of acres.
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