Arlington-based U.S. Energy Development Corp. announced this week its second transaction in five days in Permian Basin. CEO and board chairman Jordan Jayson said Monday the latest addition is located in Reeves County in the Delaware Basin targeting Wolfcamp purchased for $14.1 million. “The Permian Basin continues to be an area where we actively pursue investment opportunities,” Jayson said.
Last week U.S. Energy said it agreed to a joint venture with Midland’s Atlantic Energy Partners to develop and operate three horizontal wells in Ward County. The wells, also targeting Wolfcamp, are projected to be online in 2022Q1 with a total project development cost of $28 million. U.S. Energy has acquired $86 million in assets in Permian Basin in the past year with plans for $150 million in investments in the next 12 months.