Over the next 12 months, US Energy plans to invest over $750 million, primarily targeting projects in the Permian region.

US Energy Development Corporation to invest $750 million on Permian projects

/0 Comments/in /by

U.S. Energy Development Corporation (U.S. Energy) is expanding its operations in the prolific Permian basin. U.S. Energy is poised for significant growth and development in one of the most productive oil and gas regions in the United States.

Over the next 12 months, the company expects to deploy upwards of $750 million, with the majority of this capital earmarked for projects in the Permian.

Following closely on the heels of its success with the JT Morris pad, U.S. Energy brought its Westway 2122 two-well pad online in mid-June. Similar to JT Morris, the Westway project was completed under budget and ahead of schedule.

Click here to read the full article
Source: Oil & Gas 360

—

If you have any questions or thoughts about the topic, feel free to contact us here or leave a comment below.

You might also like
The oil and gas industry has experienced a number of booms and busts over the past few decades, but for now, it appears to be flush with cash.Oil and gas companies are swimming in so much cash that they’re cutting back on borrowing at a faster pace
Crude oil prices surged over the summer as OPEC curtailed production, followed by the outbreak in early October of the Israel-Hamas warOil’s rising price poised to boost energy sector
The Texas Electricity Supply Chain Map now includes more information that will assist state emergency officials during disasters.Texas regulators unveil new oil, gas, utility infrastructure map to assist during extreme weather
Production in the oil-and-gas-rich Permian Basin hits records recently, juicing oil company profits and easing energy supply worries.US Permian Basin oil production — and profits — have surged
Year-to-date through July 2023, TX accounts for 43.3% of all oil production and 27.4% of all natural gas marketed production in the country.Report: Texas oil and natural gas industry breaks decades-old production records
The Permian Basin is pumping a record 6.3 million barrels of oil daily, with projections to hit 6.6 mb/d next year, driven by tech advances and disciplined practices.Basin’s oil production goes ever higher
Exxon Mobil Corp. and Chevron Corp. surpassed earnings forecasts. Exxon rose as much as 1.6% in New York and Chevron climbed 2.8%.Booming shale production lifts Exxon, Chevron forecasts as oil and gas earning season kicks off
Exxon, Chevron and Oxy led the way in a blockbuster year for Texas oil mergers amid a consolidation wave that is projected to continue.How a spree of oil and gas mergers are setting the stage for 2024
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *