U.S. Energy Development Corp. continues to grow its footprint in the Permian Basin through recent acquisitions in “attractive projects” close to the Texas and New Mexico state lines.
On Feb. 23, U.S. Energy Development said it had acquired interests in the Shetland and WarWink oil development projects in the Permian Basin. The deal follows the acquisition by U.S. Energy last September of an $8.5 million interest in a Permian project operated by Shell Oil Co. in Loving County, Texas.
The Shetland and WarWink projects are located in the Delaware Basin in New Mexico’s Eddy County and Texas’ Winkler County. Jordan Jayson, chairman and CEO of U.S. Energy, described both projects as “instrumental” in the company’s continued growth and expansion in the Permian Basin.
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