Fort Worth-based U.S. Energy Development Corp. said this week it will spend up to $1 billion this year primarily in Permian Basin. The announcement followed a record-breaking year during which USEDC deployed nearly $800 million into operated and non-operated projects. Jordan Jayson, chairman and CEO, said Monday, “Our long-term acquisition and production strategies continue to generate solid performance across a portfolio of more than 2,000 wells.”
The company expects Permian Basin to “remain the primary focus of its investment in 2025 due largely to the economics of drilling and operating wells in the basin.” The company “is confident in its ability to continue to acquire high-potential Permian Basin properties and efficiently manage the costs of operated and non-operated ventures.”
U.S. Energy Development Corp. completed 19 transactions in 2023 and 29 in 2024.