U.S. Energy Development Acquires Permian Asset Targeting Wolfcamp Shale

U.S. Energy Development is on track to continue making investments in the Permian Basin and intends to reach $150 million in projects focused in the Permian by year-end 2021, says CEO Jordan Jayson.

Hart Energy Staff
U.S. Energy Development Acquires Permian Basin Asset Targeting Wolfcamp Shale

The new project is located in Reeves County, Texas, in the core of the Delaware Basin and is targeting the Wolfcamp Shale, according to U.S. Energy Development. (Source: Hart Energy)

U.S. Energy Development Corp. recently acquired a new project in the Permian Basin for $14.1 million, bringing the firm’s total investments in the basin to $86 million within the past year. 

Based in Arlington, Texas, U.S. Energy is an E&P firm which provides direct investments in energy. Since its launch in 1980, the firm has deployed more than $1.5 billion on behalf of its partners through aggressive acquisition and development of oil and natural gas projects throughout North America, including the Permian Basin. In 2020, alone, the firm invested $32 million in U.S. Energy operated Permian Basin projects, according to its website.

“The Permian Basin continues to be an area where we actively pursue investment opportunities on behalf of our partners,” commented Jordan Jayson, CEO and chairman of the board for U.S. Energy, in a company release on Aug. 16. “We are on track to continue making investments in this area and intend to reach $150 million in projects by year-end 2021.”

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