U.S. Energy Development Corp Boosts Permian Presence with $390M Asset Acquisition 

U.S. Energy Development Corporation (USEDC) has acquired approximately 20,000 net acres in Reeves and Ward Counties, Texas, for $390 million, significantly expanding its footprint in the Permian Basin. The acquisition, the largest in USEDC’s 45-year history, adds substantial proved producing assets and a multi-year drilling inventory to its portfolio. The company plans to deploy a dedicated drilling rig on the new acreage. 

This transaction is a cornerstone of USEDC’s 2025 strategy to invest up to $1 billion in U.S. oil and gas properties. In 2024, USEDC allocated approximately $850 million to operated and non-operated projects in the Permian Basin, continuing its focus on strategic opportunities. 

“This transaction greatly enhances the overall quality and resilience of our portfolio, supplementing our reserves with additional proved producing assets, adding years of multi-bench drilling inventory, and expanding our operated economies of scale,” said Jordan Jayson, CEO and Chairman of USEDC. 

RBC Richards Barr served as the financial advisor, and Willkie Farr & Gallagher provided legal counsel for the acquisition. 

In tandem, USEDC upsized its syndicated revolving credit facility, led by Citibank, from $165 million to $300 million, with a maximum capacity of $500 million. The facility, arranged by Citibank alongside TCBI Securities, U.S. Bank National Association, Washington Federal Bank, and KeyBank, enhances USEDC’s financial flexibility for future growth. Sidley Austin acted as legal counsel for the credit facility. 

Based in Fort Worth, Texas, USEDC has invested in, operated, or drilled approximately 4,000 wells across 13 states and Canada, deploying over $3 billion on behalf of itself and its partners.