USEDC expands Permian footprint with landmark acquisition
The US Energy Development Corp (USEDC) acquired approximately 20,000 net acres in Reeves and Ward Counties, Texas. The position includes a producing component and multi-year drilling inventory to supplement the firm’s existing footprint in the area. This transaction marks the largest single acquisition in the company’s 45-year history and significantly expands its total Permian Basin holdings.
USEDC said in a statement that it plans to run a dedicated drilling rig on the acquired acreage, making this acquisition a key component of USEDC’s 2025 plan to invest up to $1 billion in US oil and gas properties. In 2024, the firm deployed about $850 million in operated and non-operated oil and gas projects in the basin, and the firm’s team continues to evaluate opportunities.
