US Energy announces the acquisition of three new asset packages. They represent over $60 million in the Permian region. In order to carry out the operations, the company will collaborate with renowned operators for the 17 new wells.
A regional strategy for US Energy
US Energy expects new production volumes by the end of 2022. According to Jordan Jayson, the company’s president and CEO, these volumes would represent $100 million in new production. The company, focused on developing energy projects throughout North America, is planning more acquisitions.
US Energy plans to acquire an additional $400 to $500 million of assets in several other basins in the coming years. The acquisition of these assets in the Permian Basin offers opportunities to the company. The company thus perceives the region as a strategic location
Located in eastern New Mexico and western Texas, the Permian Basin covers 86,000 square miles. It is divided into three main sub-basins known as the Midland Basin, Marfa Basin and Delaware Basin. In addition, it is one of the largest hydrocarbon producing regions in the world.
A historic location
US Energy combines operational and financial innovation with a forward-looking approach. Founded in 1980, it is a private exploration and production company. Based in the Dallas Forth Worth Metroplex, Texas, it is certified for its environmental management system.
US Energy has been operating in North America for several decades. In addition, the company manages assets on behalf of itself and its partners. In addition, through its acquisitions, it wants to focus on operational and financial innovation.
To date, US Energy has invested in projects in 13 states and Canada. Thus, the company operates and about 4,000 wells. Finally, the company deployed over $2 billion on behalf of its partners.
