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Peregrine Petroleum sets Ellis County record for drilling fastest lateral

Peregrine Petroleum Partners, Ltd. announced today that it set an Ellis county record for drilling the fastest lateral run with a depth greater than 10,000 ft. and 3,500 minimum footage drilled.

Houston, TX—Peregrine Petroleum Partners, Ltd. announced today that it set an Ellis county record for drilling the fastest lateral run with a depth greater than 10,000 ft. and 3,500 minimum footage drilled.

Peregrine Petroleum drilled the Johnston 1-32H well lateral in Ellis County, Oklahoma targeting the Lower Cleveland Sandstone production zone. To achieve this record, Peregrine used a customized Smith bit with ONYX 360* PDC cutter technology.  ONYX 360 cutter technology increased drill bit durability and footage drilled as the entire diamond edge was used to drill the formations while it rotated 360°. The technology enabled Peregrine Petroleum to drill 4,267 feet from 10,103 to 14,370 ft at 47.41 ft/hr.  The lateral wellbore was drilled with a steerable mud motor.

Peregrine Petroleum partners announces re-entry in the Permian Basin

Peregrine Petroleum Partners, Ltd. announced today that it has re-entered the Permian Basin with the closing of a joint venture to develop a resource asset in the southern Permian Basin.   Peregrine’s re-entry follows its recent sale of assets in the Midland Basin along with Midland Texas’ Reliance Energy to Concho Resources.

Peregrine Petroleum, with offices in Houston and Dallas, Texas, is a private exploration and production company generating sustainable long-term growth within the onshore continental United States.  The focus of Peregrine’s operations is in the Anadarko, Permian and Williston Basins. For more information, visit www.peregrinegp.com.

Peregrine Petroleum commences drilling in Ellis County, Oklahoma

Peregrine Petroleum Partners, Ltd., doing business as PPP Petroleum, LP, has commenced drilling operations on its USA 5-29H Well in Ellis County, Oklahoma.  The horizontal well, located in Section 29 of T17N-R23W, is designed to be drilled to a depth of 9,720’ TVD and 14,500’ MD in the lower Cleveland formation.  Peregrine owns 94.1% of the drilling venture.  Peregrine operates 49 wells and owns over 12,000 net acres in the lower Cleveland trend of Ellis and Roger Mills Counties, Oklahoma.

Peregrine Petroleum at Nape Summit

Members of the Peregrine Petroleum team will be in attendance at NAPE Summit in Houston Texas February 10-12, 2016.  We are seeking bolt-on acreage in Ellis and Roger Mills Counties in Oklahoma and Southern McKenzie County in North Dakota.  Please plan to visit us at booth #4437 and meet our team.  

Peregrine Petroleum at NAPE International

Key members of the Peregrine Petroleum team will be on hand for the NAPE International conference at the George R. Brown Convention Center in Houston this week. Come by and visit the Peregrine Petroleum booth (#3929) for more information on our company and our plans for 2014 and beyond. We are looking forward to seeing a lot of our old friends in addition to meeting new colleagues in the industry. See you there!

Peregrine Petroleum enters Anadarko Basin with significant acquisition

Peregrine secures operated, non-operated oil and gas positions in western Oklahoma

 

DALLAS and HOUSTON – Texas-based Peregrine Petroleum has completed a significant acquisition of operated and non-operated assets in Oklahoma’s Anadarko Basin, one of North America’s most abundant oil and natural gas regions.

The Anadarko Basin deal between privately held Peregrine and Oklahoma-based Primary Natural Resources III LLC was closed on Dec. 19, 2013. Peregrine is acquiring more than 10,000 net acres in Ellis and Roger Mills Counties in western Oklahoma with production from the Cleveland, Tonkawa and Atoka formations.

At closing, Peregrine assumed operatorship in 35 wells and non-operated interests in 31 wells. Currently, four operated and two non-operated wells are awaiting completion. Current net production (93% operated) is estimated to exceed 2,650 barrels of oil equivalent daily (BOE/D), with oil and natural gas liquids representing more than 70% of production.

Peregrine currently operates one horizontal rig and plans to drill more than 48 operated locations in the Lower Cleveland and Tonkawa formations. An additional 59 locations exist in the non-operated acreage. While these assets are largely held by production (HBP), Peregrine plans to drill 18 new wells in the Anadarko Basin in 2014 and accelerate drilling in 2015, primarily in the Lower Cleveland formation.

“Today’s announcement represents an important milestone for Peregrine by adding another core area of operations to our portfolio,” says Michael B. Wisenbaker Jr., Peregrine’s president. “This acquisition provides a significant operated position in a liquids-rich multi-horizon basin. The economics associated with applying unconventional technology to the Lower Cleveland are impressive and continue to improve with drilling and completion refinements. We anticipate further cost reductions and improved well performance as we ramp up our drilling operations. Additional drilling locations in the form of down spacing and additional horizons also help make this acquisition a great long-term asset for Peregrine, and we are excited about our prospects going forward.”

Peregrine has steadily grown a portfolio of successful U.S. oil and gas ventures since it was founded five years ago by a group of energy industry veterans from Hunt Petroleum Corp. In addition to its latest Anadarko Basin acquisition, Peregrine maintains current active operations in the Bakken and Three Forks formations in North Dakota’s Williston Basin and West Texas’ Permian Basin.

Peregrine was represented in the transaction by the law firm Thompson & Knight LLP. J.P. Morgan Securities, LLC, acted as Sole Bookrunner for the credit facility. Union Bank, N.A., Bank of Texas and Comerica Bank participated in the credit facility.

Peregrine Petroleum debuts new educational assistance program

Texas-based oil and gas company providing educational opportunities for employees

DALLAS and HOUSTON – Texas-based Peregrine Petroleum is helping its employees meet their higher education goals through a new program that provides reimbursement for completed coursework at accredited schools.

Peregrine, founded by a group of energy industry veterans from Hunt Petroleum Corp., is one of the nation’s leading private oil and gas companies.

“Some of the top energy professionals in the country work at Peregrine Petroleum, and we’re excited about helping them continue their education so they can provide the best possible results for our partners and investors alike,” says Michael B. Wisenbaker Jr., president of Peregrine. “We’re making a significant financial commitment for team members who want to build on their existing educational achievements.”

Under the new program, Peregrine’s full-time employees who qualify will be reimbursed for tuition, books and other associated fees for completing courses at approved, accredited schools, including correspondence courses, self-study programs, review courses, and license and certification testing.

Brandon Scott, operations engineer at Peregrine, is the first employee to participate in the educational assistance program. A graduate of Louisiana State University, where he earned a Bachelor of Science in petroleum engineering, Mr. Scott now is pursuing his Master of Business Administration at the Tulane University Freeman School of Business. He joined Peregrine in 2011 after previously working at Marathon Oil Corp.

“This advanced degree will not only benefit my work but also will help with advancement opportunities at Peregrine,” says Mr. Scott. “I’m proud to be the first participant in this new initiative, and I’m sure many of my co-workers soon will be pursuing advanced degrees themselves.”

Peregrine Petroleum continues North Dakota oil and gas ventures following lease acquisitions in Bakken, Three Forks Shale

DALLAS and HOUSTON – Texas-based Peregrine Petroleum is continuing the company’s oil and gas exploration and development activities in the Bakken and Three Forks Shale in North Dakota’s Williston Basin region following last year’s acquisition of 3,210 acres of producing leases from Colorado-based Ranch Oil Company.

 

Peregrine recently filed drilling spacing unit applications in the Pierre Creek field located in the Bakken Shale. These applications are part of Peregrine’s producing leases in McKenzie County, N.D.

Peregrine, founded by a group of energy industry veterans from Hunt Petroleum Corp., also has a non-operated position with Colorado-based Kodiak Oil and Gas Corp. in the Fort Berthold Indian Reservation in Dunn County, N.D. Kodiak and Peregrine completed their first horizontal well in the Bakken Shale in early 2009, and continue to drill and complete successful wells in Dunn County.

“Our work with Kodiak has been extremely successful since we began working together only a few years ago,” says Michael B. Wisenbaker Jr., president of Peregrine. “Kodiak has done a tremendous job as operator, and we look forward to continued success in the Bakken and Three Forks.”

Peregrine Petroleum expanding Houston operations to state-of-the-art offices

DALLAS and HOUSTON – Signaling the company’s growth in oil and gas exploration and development in Texas, North Dakota and across the U.S., Peregrine Petroleum has moved its Houston operations to new, larger offices in AIG’s America Tower.

 

Since its inception in 2008, Peregrine has steadily grown a portfolio of successful oil and gas ventures from offices in Dallas and Houston. Peregrine, which was founded by a group of energy industry veterans from Hunt Petroleum Corp., focuses on upstream onshore exploration and development in the continental United States. Peregrine currently maintains active operations in North Dakota’s Williston Basin and the Permian Basin in West Texas.

Peregrine’s new, state-of-the-art offices are located at 2929 Allen Parkway, Suite 1520, Houston, Texas, 77019. The company’s Houston offices previously were located in the city’s Westchase District.

The worldwide design and architecture firm Gensler completed Peregrine’s new space by drawing on the same elements its designers used to help build Peregrine’s Dallas offices. The complementary designs developed by the experts at Gensler provide visual continuity between Peregrine’s Texas offices.

“Our employees and visitors in Houston are thrilled with our new space,” says Michael B. Wisenbaker Jr., Peregrine’s president. “America Tower is one of the top locations in the city based on the many nearby amenities and downtown access. Gensler did a fantastic job continuing the look and feel of our Dallas offices in our new Houston space. Everyone here feels as if we are in the same office, which helps bring our company closer together.”

Peregrine’s new Houston office space was brokered by Chad Baker, senior vice president and national director for the international real estate services firm Jones Lang LaSalle.