Dallas, TX, May 04, 2018 --(PR.com
)-- Peregrine 1031 Energy Partners, a company assisting 1031 investors in diversifying their exchange, has agreed to acquire producing and non-producing oil and gas royalties in Tarrant and Johnson Counties, Texas.
The acquisition features production from over 30 currently producing wells in the Barnett Shale that spans over 9 counties across North Texas. “Because the Barnett Shale is right in our own backyard, it’s certainly an area we know well and have been active in over the years. The fact that the play has been online for nearly 20 years means the wells have settled in and are producing consistent, predictable reserves and cash flow,” commented Peregrine Managing Director Josh Prier.
Over the past 2 years, Peregrine has been very active in most major basins across the U.S., including the Barnett and Eagle Ford Shale in Texas, the STACK/SCOOP area of Oklahoma, the Bakken Shale in North Dakota and the Marcellus Shale in Pennsylvania. “Over the past two years, we’ve been able to work with mineral owners to deploy over $40 million into producing royalty rights in hundreds of oil and natural gas wells,” said Peregrine Co-Founder C.J. Tibbs.
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 in existing brick and mortar real estate.”
Peregrine 1031 Energy Partners are private purchasers of oil and natural gas royalties with over 45 years of combined experience. Over the past two decades, the founders at Peregrine have helped to source over $250 million in royalty assets for 1031 exchange clients.
With its corporate headquarters in Dallas and an acquisition office in Denver, Peregrine is dedicated to providing options for royalty owners looking to divest part or all or their royalty interest while delivering 1031 replacement properties to clients looking for opportunities outside of traditional real estate.
To hear more about divestment options or to learn more on available 1031 properties, contact Wolf Hanschen at (214)-483-1997 or Wolf@peregrinelp.com.