U.S. Energy Development Corporation Completes Midstream Infrastructure Project in Eagle Ford Shale
Texas-based firm continues focus on ESG initiatives by reducing flaring
ARLINGTON, Texas, May 25, 2021 /PRNewswire/ — U.S. Energy Development Corporation (U.S. Energy), an exploration & production (E&P) firm which provides direct investments in energy, announces the completion of the LLM South B, LLM South C, LLM North A, Sola Vaca Norte A (SVNA), Hideaway Ranch A and Hideaway Ranch E midstream infrastructure development projects located in the Eagle Ford Shale. These projects represent one of many ways the Texas-based firm is committed to advancing its ESG efforts (environmental, social and corporate governance).
The $607,000 pipeline project is a proactive approach by U.S. Energy to reduce flaring, thereby decreasing the firm’s carbon footprint and inherently benefitting its stakeholders. Often the economics of laying pipelines do not justify the value gained from selling the gas, which results in the gas being flared. As the Texas Railroad Commission continues to increase pressure on upstream companies to reduce flaring, U.S. Energy saw this project as an opportunity to get ahead of the curve by eliminating its Eagle Ford area flaring.
“This is an exciting announcement for U.S. Energy as flaring reduction has been an initiative of ours for over the past six months,” U.S. Energy’s Vice President of Operations Kevin Duncan said. “Tying in the LLM, SVNA and Hideaway Ranch A & E pipelines eliminates the flares from some of our most significant gas producers.”
Since December 2020, this project and similar developments have reduced field flaring by a total of 88%. The firm’s goal is to eliminate its flaring in the basin by the end of 2021.
“We are working in respect to recent RRC rulings to ensure this 3.4-mile pipeline project continues to be as environmentally friendly as possible,” said Jordan Jayson, CEO and chairman of the board for U.S. Energy. “As we continue to expand our project footprint, we will remain committed to aligning ESG with our core values to better serve the community, environment and our stakeholders.”
In 2020, U.S. Energy incorporated completion technologies which cut its projected freshwater usage by almost 1,500,000 barrels and reduced over 70,000 gallons of anticipated diesel fuel which lowered carbon emissions by ~800 tons across the firm’s SVNA 6-well pad frac and University Lands 43 20 3-well pad frac projects. Over the course of 2021, the firm plans on continuing to focus on its ESG initiatives by practicing ISO 26000 and obtaining an ISO 14001 certification. These ISO standards will certify that U.S. Energy has a functioning environmental management system which is aligned with its corporate and social responsibility goals.
About U.S. Energy Development Corporation
U.S. Energy Development Corporation is a privately held oil and gas operator established in 1980 which provides direct investments in energy. The firm was named the Best Investment Company in North America by World Finance in its 2020 Oil & Gas Awards. U.S. Energy has invested in, operated and/or drilled more than 2,400 wells in 13 states and Canada and deployed more than $1.5 billion on behalf of its partners.
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