U.S. Energy Development Corporation Expands Permian Footprint Acquiring $390 Million Asset and Announces Upsized Credit Facility

U.S. Energy Development Corporation Expands Permian Footprint Acquiring $390 Million Asset and Announces Upsized Credit Facility

~20,000 net acres Significant multi-bench drilling inventoryUpsize of USEDC's syndicated revolving credit facility led by Citibank, N.A. from $165 million to $300 million

U.S. Energy Development Corporation expands Permian footprint acquiring $390 million asset and announces upsized credit facility – Oil & Gas 360

(Oil & Gas 360)  ~20,000 net acres Significant multi-bench drilling inventory Upsize of USEDC’s syndicated revolving credit facility led by Citibank, N.A. from $165 million to $300 million Fort Worth, TX – U.S. Energy Development Corporation (USEDC), a Fort Worth-based exploration and production company focused on developing oil and gas projects for itself and its partners, has acquired ~20,000 net acres in Reeves and Ward Counties, Texas. The

US Energy Development Acquires 20,000 Acres in Permian

U.S. Energy Development Corp.’s deal to buy 20,000 net acres in the Permian is the largest acquisition in the company’s 45-year history.

U.S. Energy Development extends Permian footprint with $390m asset acquisition

U.S. Energy Development Corporation (USEDC) has expanded its presence in the Permian Basin by acquiring approximately 20,000 net acres in Reeves and Ward Counties, Texas, for $390m. The acquisition significantly enhances USEDC's portfolio, adding a substantial proved producing component and a multi-year drilling inventory to its existing holdings in the region. USEDC plans to operate a dedicated drilling rig on the newly acquired acreage. This a…

U.S. Energy Development extends Permian footprint

USEDC has expanded its presence in the Permian Basin by acquiring approximately 20,000 net acres in Reeves and Ward Counties, Texas.