Arlington-based U.S. Energy Development Corp., privately-held oil and gas operator, last week said it acquired interests in Shetland and WarWink oil development projects in Delaware Basin. Shetland is located in an opportunity zone in Eddy County, N.M., and contains an interest in 14 producing wells and 6 recently proposed oil wells targeting initial production in mid-2021. WarWink is located in Winkler County and contains an ownership interest in 2 oil wells also targeting initial production in mid-2021.
Jordan Jayson, chairman and CEO, said Feb. 23, “These projects offer favorable valuation, desirable locations and strong projected returns. They rank among the most attractive projects we have seen in our 40-year history.”