Peregrine acquires mineral rights in northeast Pa.
Tuesday, October 6, 2020
Peregrine Energy Partners will acquire producing and non-producing mineral rights on 4,755 gross acres in Bedford County, Pa. from Chief Oil & Gas, according to EIN Presswire.
The purchase price was undisclosed. However, the deal is the third the company has made in this region of the Appalachian Basin this year.
“While we’ve traditionally been more active in the southwest portion of the state, we love the fundamentals of the northeast Marcellus Shale and have an internal goal to expand our footprint in those counties,” said Josh Prier, Managing Director of Peregrine.
Learn more: EIN Presswire > Peregrine Acquires Northeast Pa. Minerals
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What are mineral rights?
Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
Will I get free natural gas if I allow fracking on my property?
Maybe. It depends on your particular lease agreement. Some companies allow property owners a yearly free gas allowance. But, the process of connecting your property to the gas source may be more complicated. Some companies will provide a hookup, others require the landowner to provide one.