Arlington, Texas-based U.S. Energy Development Corp. said recently it is acquiring an interest in a horizontal well project targeting oil-producing zones in Wolfcamp in Loving County owned by Shell Oil Co. The energy investment company pledged $8.5 million to develop the assets, including three horizontal wells, in the Columbia project. Drilling and completion operations are finished, and initial production is expected in 2020Q4. Total project cost is $24.1 million. Jordan Jayson, chairman and CEO, said Sept. 16 U.S. Energy Development Corp. had previous success in Permian Basin. In 2019 it acquired operations in neighboring Ward County and began operating three wells in Wolfcamp.