(Source: U.S. Energy)
U.S. Energy Development Corp. (USEDC) plans to spend up to $1 billion on its Permian Basin-heavy program this year.
The spending plan follows a record year for Fort Worth-based USEDC, which spent around $800 million on operated and non-operated projects and closed 29 deals across the Lower 48 in 2024.
“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 USEDC Chairman and CEO Jordan Jayson in a Feb. 3 statement.
USEDC expects the Permian Basin to make up the lion’s share of its 2025 spending. The company brought on several operated projects in the Permian last year, including the five-well J.T. Morris Pad in Reeves County, Texas.
In 2023, USEDC deployed around $600 billion on projects and acquisitions in the Permian, the Barnett and Haynesville shales and the Powder River Basin.
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