U.S. Energy Development Corp. (U.S. Energy), an exploration & production (E&P) firm that provides direct investments in energy, has announced the acquisition of interests in the Shetland and WarWink oil development projects. Both assets are core Permian projects located in the Delaware Basin close to the Texas and New Mexico state lines.
Located in an opportunity zone in Eddy County, N.M., the Shetland project contains an interest in 14 producing wells and six recently proposed oil wells targeting initial production in mid-2021. The WarWink project is located in Winkler County, Texas, and contains an ownership interest in two oil wells also targeting initial production in mid-2021. The recent acquisitions come on the heels of U.S. Energy deploying more than $100 million in new projects over the past 12 months. The firm continues to actively search for additional investment opportunities and joint ventures in 2021.
“The Shetland and WarWink projects are in
