Peregrine Energy Partners (“Peregrine”) has acquired additional royalty interests in Bakken Shale, with its most recent acquisition spanning multiple counties across the Williston Basin in western North Dakota.
Peregrine Energy Partners is a privately-held oil & gas company based in Dallas. They are a private purchaser of oil and natural gas minerals and royalties with over 50 years of combined experience.
Over the past 16 years, they have worked with hundreds of mineral rights owners in 30 states across millions of acres. The acquisition features over 20,000 acres from an undisclosed seller and represents acreage core to Resource Energy, among several additional operators.
“Throughout the oil downturn of 2020, we as a company elected to pivot from liquids to focus more on natural gas, which provided a great deal more stability relative to what was happening in the crude market,” said CJ Tibbs Peregrine, Managing Director.
Over the last six months, global oil demand has increased. Demand is higher today in many areas than pre-COVID in January of last year.
“While we’ve had a good run on the natural gas side of the industry,” Tibbs said, “We felt it was time to re-engage with royalty owners in more oil-heavy basins like the Bakken to discuss their options for taking some chips off the table while oil was close to $70.”
Managing Director Josh Prier added, “We’ve been fortunate to work with numerous families over the last several months who are concerned with the tax code the Biden Administration is planning to implement. Specifically, with the steep increase in capital gains taxation, royalty owners stand to lose quite a bit once the legislation is passed. We’re seeing more and more families interested in a discussion around how to take advantage of the high prices and low rates while they still can.”