DALLAS, TEXAS, UNITED STATES, October 17, 2023 /
EINPresswire.com/ -- Peregrine Energy Partners has closed on producing and non-producing royalty interests in Kern and Fresno Counties, California.
The acquisition features production from over 40 producing wells under California Resource Corporation, California’s largest oil and gas operator.
“California is an area that has appealed to us for the past two decades,” commented Managing Director Josh Prier. “The production profile in Kern County is mature, consistent and predictable which is something that we need to see in every asset we acquire.”
According to Mr. Prier, this interest was held by a trust that was divesting its assets as it wound up the entity. “We’ve seen a lot of entity wind-ups over the past few years,” remarked Prier. “Whether it’s a trust, a partnership, or an operator selling down their non-core, passive assets, Peregrine has worked to be a quick, fair, and seamless option for them to do so.”
Peregrine has been active in the San Joaquin Basin for many years, an area sometimes downplayed within the energy industry. “I think most people forget just how much oil comes from this area, specifically Kern County,” said Prier. “Kern ranks as the 7th highest oil-producing county in the entire country and supplies California with almost 3/4ths of their oil demand, which itself ranks as the second highest in the nation.”
Peregrine Energy Partners are private purchasers of oil and natural gas royalties with over 50 years of combined experience. Over the past 19 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
+ 13032566275
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