unrelated third parties and on its own behalf.
While U.S. Energy has been active in oil and gas development throughout the United States and currently maintains more than 475,000+ gross acres for potential future development, current activity is focused on the Eagle Ford Shale and Permian Basin in Texas. The company has successfully achieved a 98% drilling completion ratio since 2003.
To find potential investment opportunities, the company maintains relationships with Joint Venture industry partners with significant experience in areas where the drilling will occur. These partners provide access to, on average, more than 500 potential investment opportunities each year, each containing its own set of potential risks and rewards. U.S. Energy will analyze each project using a screening process which incorporates a series of internal check list criteria that are designed to narrow down the drilling and acquisition opportunities to those that best fit with our investment strategy. As a result, only the optimum opportunities are presented to our Investment and Acquisition Committee for final approval and investment.