Peregrine continues to add to its portfolio in Appalachian Basin
Friday, May 21, 2021
Peregrine Energy Partners continues adding to its portfolio in the Appalachian Basin, agreeing to acquire producing royalties in Bradford County, Pennsylvania from a private seller in its latest deal, according to EIN Presswire.
The deal includes production from natural gas wells across 1,700 gross acres under Repsol, who’s been operating in the Marcellus Shale since 2015 and currently manages over 1,050 producing wells in NE Pennsylvania.
The current administration’s proposal to increase taxes on long-term capital gains has been a motivator for many mineral owners to consider looking objectively at what a divestment might look like today versus down the road when the tax liabilities from the sale may be more.
Learn more: EIN Presswire > Peregrine Acquires Royalties in NE Pennsylvania
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.