Fort Stockton, TX, May 15, 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 Pecos and Karnes Counties, Texas.
The purchase features production from over 20 currently producing wells under PPC Operating Company in Pecos County, TX, part of the prolific Permian Basin.
“The Permian Basin is arguably the most well-known oil and gas basin in the world,” commented Peregrine Managing Director Josh Prier. “The current production exhibits the consistent characteristics we look for in an acquisition and the running room is pretty much a given based on the capital expenditures operators continue to pour into this area.”
The acquisition also covers an additional 17 producing wells under Devon, Marathon and ConocoPhillips in Karnes County, TX, located in the heart of the burgeoning Eagle Ford Shale.
“The Eagle Ford Shale is another basin we really like, and Karnes County is consistently in the top 2 or 3 producing counties in all of Texas,” remarked Mr. Prier. “Anytime we have the opportunity to purchase production in this region, especially under world-class operators like Devon and Marathon, it has the complete attention of our team.”
Over the past 2 years, Peregrine has been very active in most major basins across the U.S., including the Permian Basin and Eagle Ford Shale in Texas, the STACK/SCOOP area of Oklahoma, the Bakken Shale in North Dakota and the Marcellus Shale in Pennsylvania.
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 about available 1031 properties, contact Wolf Hanschen at (214)-483-1997 or Wolf@peregrinelp.com.