News provided by U.S. ENERGY DEVELOPMENT CORPORATION
Feb 03, 2025, 08:06 ET
USEDC 2024 deployment nears $800 million
FORT WORTH, Texas, Feb. 3, 2025 /PRNewswire/ — U.S. Energy Development Corporation (“USEDC”), an exploration and production company focused on the development of energy projects for itself and its partners, today announced plans to deploy up to $1 billion during 2025, primarily in the Permian Basin.
The company’s announcement follows a record-breaking year during which USEDC deployed nearly $800 million into operated and non-operated projects. In 2024, USEDC evaluated over 220 opportunities and completed 29 transactions both increases from 2023 totals. The company also improved cost efficiency, seeing reductions in cost per lateral foot while maintaining strong productivity. In 2023, USEDC closed 19 transactions and deployed nearly $600 million, most in the Permian Basin, with other projects in the Barnett, Haynesville, and Powder River basins.
“Our long-term acquisition and production strategies continue to generate solid performance across a portfolio of more than 2,000 wells. Despite global price volatility and market uncertainty, the energy market remained relatively stable, and our reputation for completing deals resulted in a record flow of successful transactions and capital deployment in 2024,” stated Jordan Jayson, Chairman and CEO of U.S. Energy.
2025: Capturing Opportunities with a Long-Term Outlook
Building on the momentum of 2024, USEDC is entering 2025 with a similar growth mindset, aiming to invest up to $1 billion in U.S.-operated and non-operated oil and gas projects, primarily in the Permian Basin. “We have built a strong track record of sourcing and transacting on high-quality opportunities, and our ability to deploy capital efficiently continues to drive strong results,” said Jayson. “Our approach remains the same – we will continue to evaluate opportunities that align with our disciplined investment strategy and deliver value to our partners. With a strong foundation and a targeted approach, we are well-positioned to build on our momentum entering 2025.”
2024: Strategic Growth and Operational Efficiency
In 2024, USEDC solidified its performance through consistent production growth and capital, operational discipline and a highly skilled team of energy and investment experts to evaluate a steady stream of opportunities. USEDC expects the 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 has experienced consistent results and 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.
About USEDC
Founded in 1980, USEDC is a privately held exploration and production (E&P) firm that manages assets for itself and its partners. USEDC has blended operational and financial innovation with a forward-looking approach. Headquartered in the Dallas-Fort Worth metro area, USEDC has invested in, operated, and/or drilled approximately 4,000 wells in 13 states and Canada and deployed more than $2 billion on behalf of itself and its partners. For more information, please visit usedc.com and follow USEDC on LinkedIn.
SOURCE U.S. ENERGY DEVELOPMENT CORPORATION