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Fast Facts

U.S. Energy Development Corporation – Fast Facts

Company History:

  • Founded in 1980; started as an Appalachian based operator in Pennsylvania and New York
  • Active in all major US oil & gas basins; with ownership interests in 13 states and Canada
  • 80+ Employees with expertise in geology, engineering, finance, banking, engineering, land leasing, legal, sales & marketing, investor services, acquisition & divestitures, accounting, purchasing, human resources, information technology and field operations
  • One of the largest sponsors of direct oil & gas investment programs

Operating History:

  • Invested in, operated and/or drilled more than 2,400+ oil & natural gas wells
  • Currently operate approximately 7,500 barrels of oil equivalent per day (boepd); consisting of 4,000 bopd and 35 mmcf/d
    • Drilled and/or currently operate 80+ horizontal wells
    • 60 in TX – drilled since 2015 (35+ Eagle Ford wells)
    • 20 in OK – horizontal Mississippian Lime wells drilled since 2012
    • 1,500+ in NY/PA – shallow, vertical oil and gas wells that were drilled primarily from 2003 to 2012

Extensive Project Inventory:

  • Over 35 active Joint Venture Partners
  • Several active project areas spanning 475,000+ gross acres; 200,000+ net acres; 145,000 net held by production (HBP) acres
  • Primary Development Areas:
    • Eagle Ford Shale (TX)
    • Permian Basin (TX)
    • Mississippian Lime / Woodford Shale / Hunton Lime (OK)
    • Marcellus (PA)
    • Bakken/Three Forks Shale (ND)