U.S. Energy Development acquires 20,000 net acres in Permian Basin for $390m

From Yahoo Finance: 2025-04-15 11:48:00

U.S. Energy Development Corporation (USEDC) expands in Permian Basin with $390m acquisition of 20,000 net acres in Texas. The deal enhances portfolio with proved producing assets and drilling inventory. Plans include operating dedicated drilling rig on new acreage as part of 2025 $1bn investment plan.
USEDC increases syndicated revolving credit facility from $165m to $300m, led by Citibank, with potential to reach $500m. Growing financial flexibility supports growth strategy. Legal counsel provided by Sidley Austin for credit facility.
USEDC’s CEO Jordan Jayson highlights acquisition’s positive impact on portfolio quality and resilience. RBC Richards Barr advised on acquisition process while Willkie Farr & Gallagher provided legal counsel. Company has invested over $3bn in operations across 13 states and Canada.
USEDC CFO Brandon Standifird emphasizes lenders’ confidence in company’s strategy with credit facility upsize. Strong support positions USEDC for future growth opportunities. Headquartered in Fort Worth, Texas, company continues strategic expansion in energy sector.

Read more: U.S. Energy Development extends Permian footprint with $390m asset acquisition