The Energy Development Corporation of the United States (US Energy), and exploration and production company, that is responsible for providing the direct investments in the energy, has announced that, the company has made an acquisition in the region of Permian Basin for 14.1 million dollars, that has been responsible in bringing the total investments of the company to around 86 million dollars in 2020.
This new project has been located in the Reeves County, located in Texas in the core of the Delaware Basin and it has also been focusing on the Wolfcamp Shale, and Jordan Jayson, chairman of the board and CEO of the US Energy said, the Permian Basin is continuing to be an area, where they have been actively pursuing the opportunities in the investment on behalf of their partners.
Jordan Jayson also said, they are now on the track for making continuous investments in this area and they are also intended to reach 150 million dollars in the projects by the end of 2021.
The Permian Basin has been one of the most widely recognized and oldest oil and gas producing regions based in North America, and it has also been covering around 86,000 square miles of the energy projects across the region of Texas and New Mexico, and this Permian has also been a dividend into the three main sub-basins including the Delaware, Midland and the Central Basins Platform. The company US Energy has been a privately owned oil and gas operator and it was founded in 1980.
