U.S. Energy Development Corporation is among a unique group of established independent oil & gas companies within North America. Since the early 2000’s, the company has deployed more than $1.1 billion in investor capital and has invested, operated, and/or drilled more than 2,300 wells throughout 13 states and Canada. The company has successfully achieved a 98% drilling completion ratio since 2003.
In addition to an experienced staff, U.S. Energy partners with industry-leading consultants with hands-on experience in multiple areas of operation. These consultants often provide the company with independent 3rd party geologic and engineering reviews; an invaluable tool when making investment decisions.
U.S. Energy is recognized by Inc. Magazine as one of the Fastest Growing Private Companies in the United States for 2009, 2010, 2011, 2012 & 2013. The company has also been ranked by Rigdata, a company which tracks drilling activity in the United States, as one of the Top 50 Independent Drillers in the United States by footage drilled in 2008 & 2009.
The shale revolution, fueled by technological advances in horizontal drilling and hydraulic fracturing, creates additional opportunities for oil & gas development throughout the United States. U.S. Energy continues a rapid expansion, deploying more than $1.1 billion in investor capital since the early 2000’s.
Increases in world-wide oil and gas prices results in more demand for capital for the oil & gas industry. During this time, U.S. Energy expands its operations by adding additional joint venture partners, increasing its acreage positions, and bolstering its field and corporate staff. The company positions itself for the future energy needs of America.
The company begins to drill wells outside of the Appalachian Basin and expands into new areas including Texas, Louisiana, and the province of Ontario, Canada. During this time, U.S. Energy is also growing through the acquisition of existing wells utilizing a disciplined investment strategy focused on risk mitigation, economic performance and tax advantages.
U.S. Energy Development Corporation formed as a successor to Oilmark & Company, Inc. which was founded in 1978. Both companies were successful operators of oil & gas wells located throughout Western NY and Northwestern PA.