US Energy Development Corp., (USEDC) Fort Worth, Tex., has acquired about 20,000 net acres in Reeves and Ward Counties, Tex., from an undisclosed seller.
The deal includes a proved producing component, USEDC said in a release Apr. 15, and expands the company's Permian basin holdings while increasing its multi-bench drilling inventory.
The company plans to run a dedicated drilling rig on the $390-million asset, incorporating it into its 2025 plans. In February, the company said it expects to deploy up to $1 billion in US oil and gas properties in 2025, primarily in the Permian basin.
Map from Grand Gulf Energy.
